Suburb Profile Report for Melba ACT (2615)

Melba House: Median price $795,000, Annual capital growth -13.29%, Number of sales 51, Weekly median advertised rent $280

Melba Unit: Median price $618,500, Annual capital growth 0.00%, Number of sales 12, Weekly median advertised rent $230

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

Source: Monthly data update for Jan 2022 as supplied by CoreLogic. Data is reported to the period ending Oct 2021. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

Over the last year, property investments in Melba, 2615 have given investors a capital gain of -13.29%. This compares badly with the -2.25% for ACT as a whole.

While Melba,2615 ranked number 42th in ACT for increase in median house value (annualised) increase, it is ranked 55th over the last 5 years.

Property investors looking for a bargain in Melba should be aiming for at least 0.00% off the asking price, which is the average vendor discount being achieved at the moment.

Melba, 2615’s gross rental yield is 4.70%

If you compare the increase in value of investment property in Melba, 2615 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this ACT suburb was 0.00%.

When looking at the potential capital gains offered to property investors over the last 3 years, Melba comes in at number 36th in ACT.

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 Melba, 2615. Typically our figures indicate that 0.00% is being offered, which puts this ACT suburb at 1023th most discounted overall in Australia.

With the median price for a house in Melba being $618500 and the advertised rent reaching $230 the gross rental yield for property investors calculates out to be 9.27%

Metrics i HOUSE UNIT
$795,000 $618,500
-9.49% -9.47%
-13.29% 0.00%
-13.29% 0.00%
$280 $230
51 12
4.70% 9.27%
81.6666666666667 0

Source: Monthly data update for Jan 2022 as supplied by CoreLogic. Data is reported to the period ending Oct 2021. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Very good (U), Very good (H)
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Demographics
Total population 3200
Median household income ($/weekly) 1858
Median age of persons 37
Median housing loan repayment ($/monthly) 1950
Average household size 2.7
  • Census Count Percent(%)
    5-14 years 369 11.5
    25-34 years 424 13.3
    35-44 years 468 14.6
    45-54 years 411 12.8
    55-64 years 422 13.2
    Others 1105 34.5
    Age Group
    Census Count Percent(%)
    Registered Married 1250 53.0
    Not Married 879 37.3
    Defacto Relationship 228 9.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 2462 79.8
    Croatia 41 1.3
    Papua New Guinea 44 1.4
    United Kingdom 145 4.7
    Other 127 4.1
    Others 268 8.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 38 1.3
    Christianity 1895 63.7
    Hinduism 23 0.8
    Islam 43 1.4
    No Religion 949 31.9
    Others 25 0.8
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 150 14.6
    $2,000-$2,499 104 10.1
    $2,500-$2,999 117 11.4
    $3,000-$3,499 115 11.2
    $4,000 or more 91 8.9
    Others 450 43.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1084 43.9
    Not in the labour force 765 30.9
    Employed, worked part-time 461 18.6
    Employed, away from work 116 4.7
    Unemployed, looking for work 46 1.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 233 14.0
    Professionals 454 27.4
    Technicians & trades workers 171 10.3
    Community & personal service workers 185 11.2
    Clerical & administrative workers 333 20.1
    Others 283 17.1
    Occupation
    Census Count Percent(%)
    Pre-school 60 7.7
    Infants/Primary 246 31.6
    Secondary 196 25.2
    Technical or Further Educational Institution 86 11.1
    University or other Tertiary Institutions 162 20.8
    Others 28 3.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2659 88.9
    Semi-detached, row or terrace house, townhouse 303 10.1
    Flat, unit or apartment 29 1.0
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 482 42.5
    Fully owned 406 35.8
    Rented 240 21.2
    Other tenure type 6 0.5
    Tenure Type
Census 2011, ABS
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