Suburb Profile Report for Melton VIC (3337)

Melton House: Median price $320,000, Annual capital growth 6.34%, Number of sales 212, Weekly median advertised rent $290

Melton Unit: Median price $235,000, Annual capital growth 4.45%, Number of sales 39, 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

VIC has seen average median house prices change by 10.43% which means that Melton, 3337 has done well for property investors by showing a capital gain of 25.49% over the last year

Over the longer term, Melton has seen property prices show investors a 30.61% return over the last 3 years. This is worse than over the last 12 months

Melton, 3337 is offering VIC ‘s 514th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 20% of discounts offered by this VIC.

At number 174 in a list of fastest selling suburbs, Melton is in the TOP 10% of suburbs in Australia with an average of days on market 33.81 for properties listed there.

Melton is 146th on a list of best yielding suburbs for rents in VIC with a 4.71% return

With a capital gain of 2.96% for the last 12 months, Melton, 3337 has performed for property investments than its average annual 4.45% property growth over the last 5 years.

A 5.15% growth in median value for property investors in Melton,3337 puts this suburb at number 108th in terms of best performing suburbs in VIC

Sellers are offering property buyers an average discount of -4.57% to buyers in Melton at the moment, which is less than average for the rest of VIC.

Renters in Suburb are facing rents around $3300 per annum or $275 every week.

Metrics i HOUSE UNIT
$320,000 $235,000
8.47% 3.30%
25.49% 2.96%
6.34% 4.45%
$290 $275
212 39
4.71% 6.09%
33.81 85.5

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
Chart Table
Recent sales & rentals