Suburb Profile Report for Melton VIC (3337)

Melton House: Median price $335,000, Annual capital growth 6.84%, Number of sales 208, Weekly median advertised rent $290

Melton Unit: Median price $240,000, Annual capital growth 4.30%, Number of sales 35, 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

With a capital gain of 26.42% for the last 12 months, Melton, 3337 has performed for property investments than its average annual 6.84% property growth over the last 5 years.

Taking the average capital gain, or increase in median house value, Melton,3337 has racked up an average of 26.42% over the period. This ranks it number 981th in the whole country for real estate investors looking at median house price increases.

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 -3.49% is being offered, which puts this VIC suburb at 3290th most discounted overall in Australia.

The VIC suburb of Melton, 3337 is in the Melton local government area.

Over the last year, property investments in Melton, 3337 have given investors a capital gain of 9.09%. This compares favourably with the 5.66% for VIC as a whole.

If we look at median property appreciation over just the last three months, Melton has given property investors a paper return of 5.49%. This puts Suburb as 58 on a list of fastest fasting appreciating suburbs in VIC

Vendor discounting in Melton is giving property investors an average Vendor Discount of around -4.26%. This puts suburb at number 167th in VIC when ranking the most discounted suburbs.

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

Metrics i HOUSE UNIT
$335,000 $240,000
7.20% 5.49%
26.42% 9.09%
6.84% 4.30%
$290 $275
208 35
4.50% 5.96%
29.08 69.17

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (U)
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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