Suburb Profile Report for Melville WA (6156)

Melville House: Median price $785,000, Annual capital growth 4.18%, Number of sales 99, Weekly median advertised rent $428

Melville Unit: Median price $440,000, Annual capital growth 1.63%, Number of sales 25, Weekly median advertised rent $360

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

Source: CoreLogic

  • House Report
  • Unit Report

WA has seen average median house prices change by -5.20% which means that Melville, 6156 has not done well for property investors by showing a capital gain of -0.76% over the last year

The five-year average increase in median property values for Melville,6156 has given property investors a potential capital gain of 13.77% across each of those five years.

LACK OF BUYER INTEREST may well be the reason that Melville is offering property investors an average of -8.26. This rate of discount on properties puts Suburb at number 327th in terms of most discounted suburbs in WA

Renters in Suburb are facing rents around $5130 per annum or $427.5 every week.

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 -21.43%

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

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Melville, 6156. Typically our figures indicate that -8.22% is being offered, which puts this WA suburb at 149th most discounted overall in Australia.

Residents and property investors in Melville have been waiting around 155.84 days to sell a property.

HOUSE UNIT
$785,000 $440,000
-0.13% -0.23%
-0.76% -21.43%
4.18% 1.63%
$428 $360
99 25
2.83% 4.25%
76.92 155.84

Source: CoreLogic

DSR Score for property investment : Above average (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