Suburb Profile Report for Melton South VIC (3338)

Melton South House: Median price $273,000, Annual capital growth 4.68%, Number of sales 216, Weekly median advertised rent $278

Melton South Unit: Median price $220,000, Annual capital growth 4.70%, Number of sales 51, Weekly median advertised rent $260

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

Source: CoreLogic

  • House Report
  • Unit Report

Over the last year, property investments in Melton South, 3338 have given investors a capital gain of 12.23%. This compares favourably with the 7.80% for VIC as a whole.

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Melton South has increased when compared to the 5 year average annual rate.

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.04% offered to property buyers. Sellers in Melton South itself are offering an average vendor discount of -5.81% to real estate investors.

At number 1308 in a list of fastest selling suburbs, Melton South is in the TOP 40% of suburbs in Australia with an average of days on market 67.71 for properties listed there.

Property investors should expect to get $277.5 weekly from the median priced house in this suburb.

Melton South is an average performer in VIC when comparing median price capital growth over the last year. Melton South gave property investors a average capital gain figure when compared to the rest of the state, with 3.77%.

Across a shorter period, Melton South, 3338 has seen a median price increase of 1.38% over the last quarter.

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.22% offered to property buyers. Sellers in Melton South itself are offering an average vendor discount of -5.75% to real estate investors.

In the last year 51 properties changed hands in Melton South, which puts it as the 180th most active market in VIC when comparing the number of sales per suburb.

HOUSE UNIT
$273,000 $220,000
2.25% 1.38%
12.23% 3.77%
4.68% 4.70%
$278 $260
216 51
5.29% 6.15%
67.71 79.48

Source: CoreLogic

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