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Median values are calculated based on data over a 12 month period.

Data is provided by CoreLogic. CoreLogic is a leading provider of consumer, financial and property information, analytics and services to business and government.
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Market Report

West Melbourne has 24 houses available for sale. The median property price for a house is currently 1,270,000 with annual capital growth of -8.47 . There were 17 house sales in the past 12 months. On average, houses spend 27 days on market.

If you're thinking about buying an investment property in West Melbourne, consider that rental yields for houses are currently 2.94 with an average median rent of 690 weekly. Houses have seen 0.00 growth in the past quarter, and -8.47 growth in the past 12 months.

The size of West Melbourne is approximately 6.7 square kilometres. It has 14 parks covering nearly 2.4% of total area. The population of West Melbourne in 2011 was 3,743 people. By 2016 the population was 5,511 showing a population growth of 47.2% in the area during that time. The predominant age group in West Melbourne is 20-29 years.

Households in West Melbourne are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in West Melbourne work in a professional occupation. In 2011, 38.9% of the homes in West Melbourne were owner-occupied compared with 34.5% in 2016.

West Melbourne has 252 units available for sale. The median property price for a unit is currently 510,000 with annual capital growth of 2.00 . There were 113 unit sales in the past 12 months. On average, units spend 43 days on market.

If you're thinking about buying an investment property in West Melbourne, consider that rental yields for units are currently 5.85 with an average median rent of 580 weekly. Units have seen -0.73 growth in the past quarter, and 2.00 growth in the past 12 months.

The size of West Melbourne is approximately 6.7 square kilometres. It has 14 parks covering nearly 2.4% of total area. The population of West Melbourne in 2011 was 3,743 people. By 2016 the population was 5,511 showing a population growth of 47.2% in the area during that time. The predominant age group in West Melbourne is 20-29 years.

Households in West Melbourne are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in West Melbourne work in a professional occupation. In 2011, 38.9% of the homes in West Melbourne were owner-occupied compared with 34.5% in 2016.

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Key Market Data House Unit
Median price 1,270,000 510,000
Quarterly growth 0.00 -0.73
12-month growth -8.47 +2.00
Average annual growth +1.58 -0.33
Weekly median rent 690 580
Gross rental yield 2.94 5.85
Number of Sales (12m) 17 113
Avg. Days on Market (12m) 27 43
Jump to Market Trends
Key Demographics 2011 2016
Total population 3,743 5,511
Population change (5y) +23.21 +47.20
Median household income (p/w) 1,718 1,796
Household income change (5y) +19.97 +4.54
Median age of persons 30 29
Jump to Demographics Trends
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