Suburb Profile Report for Melton South VIC (3338)

Melton South House: Median price $294,750, Annual capital growth 5.70%, Number of sales 247, Weekly median advertised rent $285

Melton South Unit: Median price $234,750, Annual capital growth 4.88%, Number of sales 59, Weekly median advertised rent $260

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

Source: CoreLogic

  • House Report
  • Unit Report

Investment property in Melton South has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 13.37%

While Melton South,3338 ranked number 349th in VIC for increase in median house value (annualised) increase, it is ranked 423th over the last 5 years.

Property investors looking for a bargain in Melton South should be aiming for at least -4.30% off the asking price, which is the average vendor discount being achieved at the moment.

In the last year 247 properties changed hands in Melton South, which puts it as the 83th most active market in VIC when comparing the number of sales per suburb.

Melton South is 120th on a list of best yielding suburbs for rents in VIC with a 5.03% return

VIC has seen average median house prices change by 4.28% which means that Melton South, 3338 has done well for property investors by showing a capital gain of 9.70% over the last year

A 2.51% growth in median value for property investors in Melton South,3338 puts this suburb at number 225th in terms of best performing suburbs in VIC

At number 159th 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.

In the last year 59 properties changed hands in Melton South, which puts it as the 149th most active market in VIC when comparing the number of sales per suburb.

Advertised rents are around the $260 mark per week – giving a return of 5.76% based on the median price in Suburb

Metrics i HOUSE UNIT
$294,750 $234,750
2.52% 0.32%
13.37% 9.70%
5.70% 4.88%
$285 $260
247 59
5.03% 5.76%
53.77 73.3

Source: CoreLogic

DSR Score for property investment : Good (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
Chart Table
Recent sales & rentals