Suburb Profile Report for Melton West VIC (3337)

Melton West House: Median price $385,000, Annual capital growth 5.93%, Number of sales 344, Weekly median advertised rent $320

Melton West Unit: Median price $305,000, Annual capital growth 4.35%, Number of sales 19, Weekly median advertised rent $285

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

Source: CoreLogic

  • House Report
  • Unit Report

Melton West is an average performer in VIC when comparing median price capital growth over the last year. Melton West gave property investors a average capital gain figure when compared to the rest of the state, with 11.59%.

Melton West,3337 was ranked 633 in Australia by increase in median property value over the quarter.

The most recent median price for Melton West is $385000, with sellers offering an average of -2.29% off the asking price.

On average over the past year, suburb has had 28.67 sales per month, which equates to 344 per year.

With a capital gain of 13.38% for the last 12 months, Melton West, 3337 has performed for property investments than its average annual 4.35% property growth over the last 5 years.

While Melton West,3337 ranked number 17th in VIC for increase in median house value (annualised) increase, it is ranked 195th over the last 5 years.

On average over the past year, suburb has had 1.58 sales per month, which equates to 19 per year.

With the median price for a house in Melton West being $305000 and the advertised rent reaching $285 the gross rental yield for property investors calculates out to be 4.86%

Metrics i HOUSE UNIT
$385,000 $305,000
5.48% 12.13%
11.59% 13.38%
5.93% 4.35%
$320 $285
344 19
4.32% 4.86%
19.22 N/A

Source: CoreLogic

DSR Score for property investment : Very good (U), Good (H)
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Demographics
Total population 14171
Median household income ($/weekly) 1296
Median age of persons 30
Median housing loan repayment ($/monthly) 1625
Average household size 2.9
  • Census Count Percent(%)
    5-14 years 2194 15.5
    25-34 years 2405 17.0
    35-44 years 2098 14.8
    45-54 years 1674 11.8
    55-64 years 1508 10.6
    Others 4293 30.3
    Age Group
    Census Count Percent(%)
    Registered Married 4780 48.2
    Not Married 4003 40.4
    Defacto Relationship 1131 11.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 10564 79.6
    Netherlands 177 1.3
    Papua New Guinea 331 2.5
    United Kingdom 589 4.4
    Other 581 4.4
    Others 1022 7.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 179 1.4
    Christianity 8829 69.3
    Hinduism 107 0.8
    Islam 234 1.8
    No Religion 3307 26.0
    Others 78 0.6
    Religious Affiliation
  • Census Count Percent(%)
    $800-$999 435 10.5
    $1,000-$1,249 474 11.4
    $1,250-$1,499 433 10.4
    $1,500-$1,999 656 15.8
    $2,000-$2,499 498 12.0
    Others 1659 39.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 4461 44.2
    Not in the labour force 2959 29.3
    Employed, worked part-time 1772 17.6
    Employed, away from work 454 4.5
    Unemployed, looking for work 436 4.3
    Person Characteristics
  • Census Count Percent(%)
    Professionals 765 11.4
    Technicians & trades workers 1136 17.0
    Community & personal service workers 762 11.4
    Clerical & administrative workers 1123 16.8
    Machinery operators & drivers 754 11.3
    Others 2145 32.1
    Occupation
    Census Count Percent(%)
    Pre-school 276 8.1
    Infants/Primary 1330 39.1
    Secondary 1009 29.6
    Technical or Further Educational Institution 274 8.0
    University or other Tertiary Institutions 375 11.0
    Others 141 4.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 12998 96.7
    Semi-detached, row or terrace house, townhouse 314 2.3
    Flat, unit or apartment 117 0.9
    Caravan, cabin, houseboat 3 0.0
    House or flat attached to a shop, office 3 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 2540 56.2
    Rented 1023 22.6
    Fully owned 943 20.8
    Other tenure type 17 0.4
    Tenure Type
Census 2011, ABS
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Recent sales & rentals