Suburb Profile Report for Melville WA (6156)

Melville House: Median price $786,000, Annual capital growth 5.82%, Number of sales 102, Weekly median advertised rent $480

Melville Unit: Median price $497,000, Annual capital growth 6.05%, Number of sales 26, Weekly median advertised rent $390

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

Source: CoreLogic

  • House Report
  • Unit Report

Over the last year, property investments in Melville, 6156 have given investors a capital gain of 0.45%. This compares very favourably with the -5.25% for WA as a whole.

Taking the average capital gain, or increase in median house value, Melville,6156 has racked up an average of 0.45% over the period. This ranks it number 3235th in the whole country for real estate investors looking at median house price increases.

Property buyers and investors in Melville 6156 should be seeing an average reduction in asking price of around -5.82% . This means that Melville is holding prices well when compared to other suburbs in WA.

In the last year 102 properties changed hands in Melville, which puts it as the 108th most active market in WA when comparing the number of sales per suburb.

A $480 per week rent on the median house gives suburb investors a gross yield of circa 3.18%, without taking into account capital value appreciation, which has been averaging out at 5.82%.

Investment property in Melville has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -17.17%

Melville,6156 has offered an average of -17.17% return per annum in house price rises to property investors over the last three years.

Vendor discounting in Melville is giving property investors an average Vendor Discount of around -6.10%. This puts suburb at number 76th in WA when ranking the most discounted suburbs.

HOUSE UNIT
$786,000 $497,000
0.77% -4.24%
0.45% -17.17%
5.82% 6.05%
$480 $390
102 26
3.18% 4.08%
77.81 111.35

Source: CoreLogic

DSR Score for property investment : Balanced (H), Balanced (U)
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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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