Suburb Profile Report for Melton South VIC (3338)

Melton South House: Median price $285,000, Annual capital growth 5.21%, Number of sales 253, Weekly median advertised rent $285

Melton South Unit: Median price $231,250, Annual capital growth 4.89%, Number of sales 57, Weekly median advertised rent $260

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

Source: CoreLogic

  • House Report
  • Unit Report

If you compare the increase in value of investment property in Melton South, 3338 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 11.76%.

A 15.74% growth in median value for property investors in Melton South,3338 puts this suburb at number 336th in terms of best performing suburbs in VIC

Our latest figures would indicate that property sellers in Melton South are currently offering property investors an average price cut of -5.34% below the asking price at the moment.

Often selling an investment property can take time, and in Melton South the average time real estate has been on the market is 62.52 days.

Using the current median advertised rental of $285 and the average annual increase in value of a median property of 5.21%, investors should hope to achieve an overall return of 5.20%

If you compare the increase in value of investment property in Melton South, 3338 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 5.59%.

The five-year average increase in median property values for Melton South,3338 has given property investors a potential capital gain of -1.60% across each of those five years.

At number 157th of VIC’s most discounted properties, Melton South is in the middle of the state/territory when listing in order of most discounted to least.

At number 696 in a list of fastest selling suburbs, Melton South is just in the top half of suburbs in Australia with an average of days on market 75.64 for properties listed there.

With the median price for a house in Melton South being $231250 and the advertised rent reaching $260 the gross rental yield for property investors calculates out to be 5.85%

Metrics i HOUSE UNIT
$285,000 $231,250
1.79% 1.43%
11.76% 5.59%
5.21% 4.89%
$285 $260
253 57
5.20% 5.85%
62.52 75.64

Source: CoreLogic

DSR Score for property investment : Good (U), Above average (H)
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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
Chart Table
Recent sales & rentals