Suburb Profile Report for Melville WA (6156)

Melville House: Median price $793,000, Annual capital growth 3.27%, Number of sales 96, Weekly median advertised rent $440

Melville Unit: Median price $505,000, Annual capital growth 1.50%, Number of sales 25, Weekly median advertised rent $378

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

Source: CoreLogic

  • House Report
  • Unit Report

Melville has had a A very good year for property investment returns compared to the rest of WA, giving investors a capital gain of 2.65% to date .

Over the longer term, Melville has seen property prices show investors a 1.67% return over the last 3 years. This is an improvement over the last 12 months

Melville, 6156 is offering WA ‘s 371th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 20% of discounts offered by this WA.

Residents and property investors in Melville have been waiting around 78.4 days to sell a property.

A $440 per week rent on the median house gives suburb investors a gross yield of circa 2.89%, without taking into account capital value appreciation, which has been averaging out at 3.27%.

At number 1300th in the list of Australian suburbs ordered by increase in median house value over the last year, Melville, 6156 is in the BOTTOM 30% with a property value increase of -2.79% recorded in median house prices.

A 17.44% growth in median value for property investors in Melville,6156 puts this suburb at number 18th in terms of best performing suburbs in WA

Vendor discounting in Melville is giving property investors an average Vendor Discount of around -6.91%. This puts suburb at number 74th in WA when ranking the most discounted suburbs.

The WA suburb of Melville, 6156 is in the Melville local government area.

Metrics i HOUSE UNIT
$793,000 $505,000
0.76% 3.06%
2.65% -2.79%
3.27% 1.50%
$440 $378
96 25
2.89% 3.89%
78.4 103.25

Source: CoreLogic

DSR Score for property investment : Balanced (U), Balanced (H)
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Demographics
Total population 5198
Median household income ($/weekly) 1567
Median age of persons 40
Median housing loan repayment ($/monthly) 2000
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 688 13.2
    25-34 years 571 11.0
    35-44 years 887 17.1
    45-54 years 712 13.7
    55-64 years 510 9.8
    Others 1829 35.2
    Age Group
    Census Count Percent(%)
    Registered Married 2038 54.0
    Not Married 1391 36.8
    Defacto Relationship 346 9.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 3833 76.9
    Japan 67 1.3
    Papua New Guinea 121 2.4
    United Kingdom 459 9.2
    Other 143 2.9
    Others 364 7.3
    Country of Birth
    Census Count Percent(%)
    Buddhism 44 0.9
    Christianity 3303 69.1
    Islam 27 0.6
    Other Religious Groups 29 0.6
    No Religion 1348 28.2
    Others 28 0.6
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 179 10.2
    $1,500-$1,999 208 11.9
    $2,000-$2,499 149 8.5
    $2,500-$2,999 222 12.7
    $3,000-$3,499 150 8.6
    Others 843 48.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1546 38.7
    Not in the labour force 1315 32.9
    Employed, worked part-time 876 21.9
    Employed, away from work 170 4.3
    Unemployed, looking for work 86 2.2
    Person Characteristics
  • Census Count Percent(%)
    Managers 355 13.7
    Professionals 740 28.5
    Technicians & trades workers 354 13.6
    Community & personal service workers 271 10.4
    Clerical & administrative workers 431 16.6
    Others 445 17.1
    Occupation
    Census Count Percent(%)
    Pre-school 96 7.8
    Infants/Primary 510 41.7
    Secondary 270 22.1
    Technical or Further Educational Institution 89 7.3
    University or other Tertiary Institutions 231 18.9
    Others 28 2.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4530 93.5
    Flat, unit or apartment 165 3.4
    Semi-detached, row or terrace house, townhouse 150 3.1
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 800 41.1
    Being purchased 785 40.3
    Rented 347 17.8
    Other tenure type 14 0.7
    Tenure Type
Census 2011, ABS
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Recent sales & rentals