Suburb Profile Report for Melton VIC (3337)

Melton House: Median price $278,000, Annual capital growth 4.71%, Number of sales 151, Weekly median advertised rent $280

Melton Unit: Median price $229,000, Annual capital growth 3.72%, Number of sales 33, Weekly median advertised rent $275

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
TOP 100 suburbs

Source: CoreLogic

  • House Report
  • Unit Report

Property value increases in Melton have tracked close to the VIC average of 8.06% over the last 12 months.

When looking at the potential capital gains offered to property investors over the last 3 years, Melton comes in at number 476th in VIC.

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.03% offered to property buyers. Sellers in Melton itself are offering an average vendor discount of -4.27% to real estate investors.

Property value increases in Melton have tracked just higher than the VIC average of 3.11% over the last 12 months.

Across a shorter period, Melton, 3337 has seen a median price increase of 0.33% over the last quarter.

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Melton, 3337. Typically our figures indicate that -5.66% is being offered, which puts this VIC suburb at 581th most discounted overall in Australia.

Advertised rents are around the $275 mark per week – giving a return of 6.24% based on the median price in Suburb

HOUSE UNIT
$278,000 $229,000
4.91% 0.33%
10.10% 5.41%
4.71% 3.72%
$280 $275
151 33
5.24% 6.24%
49.36 111.6

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
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Demographics
Total population 7592
Median household income ($/weekly) 878
Median age of persons 38
Median housing loan repayment ($/monthly) 1200
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 864 11.4
    25-34 years 1048 13.8
    35-44 years 969 12.8
    45-54 years 886 11.7
    55-64 years 1205 15.9
    Others 2621 34.5
    Age Group
    Census Count Percent(%)
    Not Married 2891 49.8
    Registered Married 2323 40.0
    Defacto Relationship 590 10.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 5518 76.7
    Netherlands 107 1.5
    Papua New Guinea 184 2.6
    United Kingdom 423 5.9
    Other 310 4.3
    Others 648 9.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 78 1.1
    Christianity 4831 70.2
    Hinduism 42 0.6
    Islam 134 1.9
    No Religion 1759 25.5
    Others 41 0.6
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 363 13.5
    $600-$799 360 13.4
    $800-$999 321 11.9
    $1,000-$1,249 310 11.5
    $1,500-$1,999 286 10.6
    Others 1054 39.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 2513 42.6
    Employed, worked full-time 1959 33.2
    Employed, worked part-time 872 14.8
    Unemployed, looking for work 313 5.3
    Employed, away from work 240 4.1
    Person Characteristics
  • Census Count Percent(%)
    Technicians & trades workers 506 16.5
    Community & personal service workers 353 11.5
    Clerical & administrative workers 491 16.0
    Machinery operators & drivers 426 13.9
    Labourers 362 11.8
    Others 932 30.4
    Occupation
    Census Count Percent(%)
    Pre-school 108 7.4
    Infants/Primary 544 37.4
    Secondary 419 28.8
    Technical or Further Educational Institution 147 10.1
    University or other Tertiary Institutions 161 11.1
    Others 74 5.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 6528 89.7
    Flat, unit or apartment 494 6.8
    Semi-detached, row or terrace house, townhouse 240 3.3
    House or flat attached to a shop, office 19 0.3
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 992 34.2
    Fully owned 955 33.0
    Rented 935 32.3
    Other tenure type 15 0.5
    Tenure Type
Census 2011, ABS
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Recent sales & rentals