Suburb Profile Report for Melton South VIC (3338)

Melton South House: Median price $283,500, Annual capital growth 5.17%, Number of sales 261, Weekly median advertised rent $280

Melton South Unit: Median price $230,000, Annual capital growth 4.72%, Number of sales 60, Weekly median advertised rent $260

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

Source: CoreLogic

  • House Report
  • Unit Report

Property value increases in Melton South have tracked just higher than the VIC average of 8.06% over the last 12 months.

Taking the average capital gain, or increase in median house value, Melton South,3338 has racked up an average of 13.17% over the period. This ranks it number 1903th in the whole country for real estate investors looking at median house price increases.

LACK OF BUYER INTEREST may well be the reason that Melton South is offering property investors an average of -6.03. This rate of discount on properties puts Suburb at number 328th in terms of most discounted suburbs in VIC

At number 1076 in a list of fastest selling suburbs, Melton South is in the TOP 30% of suburbs in Australia with an average of days on market 64.54 for properties listed there.

Property investors should expect to get $280 weekly from the median priced house in this suburb.

Melton South has had a pretty good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 7.48% to date .

While Melton South,3338 ranked number 51th in VIC for increase in median house value (annualised) increase, it is ranked 314th over the last 5 years.

Sellers are offering property buyers an average discount of -4.84% to buyers in Melton South at the moment, which is less than average for the rest of VIC.

HOUSE UNIT
$283,500 $230,000
3.09% 4.55%
13.17% 7.48%
5.17% 4.72%
$280 $260
261 60
5.14% 5.88%
64.54 69.87

Source: CoreLogic

DSR Score for property investment : Above average (H), Good (U)
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Demographics
Total population 8916
Median household income ($/weekly) 924
Median age of persons 36
Median housing loan repayment ($/monthly) 1192
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 1102 12.4
    25-34 years 1249 14.0
    35-44 years 1164 13.1
    45-54 years 1155 13.0
    55-64 years 1323 14.8
    Others 2924 32.8
    Age Group
    Census Count Percent(%)
    Not Married 3192 50.0
    Registered Married 2543 39.8
    Defacto Relationship 648 10.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 6515 79.5
    Netherlands 126 1.5
    Papua New Guinea 123 1.5
    United Kingdom 433 5.3
    Other 281 3.4
    Others 719 8.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 81 1.0
    Christianity 5287 68.0
    Islam 108 1.4
    Other Religious Groups 99 1.3
    No Religion 2145 27.6
    Others 60 0.8
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 412 14.0
    $600-$799 384 13.1
    $800-$999 355 12.1
    $1,000-$1,249 351 11.9
    $1,500-$1,999 314 10.7
    Others 1126 38.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 2678 40.4
    Employed, worked full-time 2268 34.3
    Employed, worked part-time 1039 15.7
    Unemployed, looking for work 375 5.7
    Employed, away from work 261 3.9
    Person Characteristics
  • Census Count Percent(%)
    Technicians & trades workers 610 17.1
    Community & personal service workers 413 11.6
    Clerical & administrative workers 577 16.2
    Machinery operators & drivers 521 14.6
    Labourers 454 12.7
    Others 993 27.8
    Occupation
    Census Count Percent(%)
    Pre-school 133 7.9
    Infants/Primary 622 36.8
    Secondary 515 30.5
    Technical or Further Educational Institution 164 9.7
    University or other Tertiary Institutions 185 10.9
    Others 72 4.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 7303 89.4
    Semi-detached, row or terrace house, townhouse 575 7.0
    Flat, unit or apartment 285 3.5
    House or flat attached to a shop, office 10 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1246 39.4
    Rented 995 31.5
    Fully owned 904 28.6
    Other tenure type 14 0.4
    Tenure Type
Census 2011, ABS
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Recent sales & rentals