Suburb Profile Report for Melton VIC (3337)

Melton House: Median price $406,000, Annual capital growth 8.02%, Number of sales 211, Weekly median advertised rent $310

Melton Unit: Median price $310,000, Annual capital growth 6.38%, Number of sales 41, Weekly median advertised rent $280

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
TOP 100 suburbs

Source: CoreLogic

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  • Unit Report

Property value increases in Melton have tracked higher than the VIC average of 8.91% over the last 12 months.

Taking the average capital gain, or increase in median house value, Melton,3337 has racked up an average of 26.88% over the period. This ranks it number 84th in the whole country for real estate investors looking at median house price increases.

At number 388th of VIC’s most discounted properties, Melton is in the middle of the state/territory when listing in order of most discounted to least.

With the median price for a house in Melton being $406000 and the advertised rent reaching $310 the gross rental yield for property investors calculates out to be 3.97%

Investment property in Melton has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 31.91%

Taking the average capital gain, or increase in median house value, Melton,3337 has racked up an average of 31.91% over the period. This ranks it number 193th in the whole country for real estate investors looking at median house price increases.

Property investors looking for a bargain in Melton should be aiming for at least -3.64% off the asking price, which is the average vendor discount being achieved at the moment.

Situated 34.78km from the CBD, Melton is one of Melton localities in the postcode 3337.

Metrics i HOUSE UNIT
$406,000 $310,000
2.78% 2.31%
26.88% 31.91%
8.02% 6.38%
$310 $280
211 41
3.97% 4.70%
31.6 32.17

Source: CoreLogic

DSR Score for property investment : Above average (H), Very good (U)
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Demographics
Total population 7592
Median household income ($/weekly) 878
Median age of persons 38
Median housing loan repayment ($/monthly) 1200
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 864 11.4
    25-34 years 1048 13.8
    35-44 years 969 12.8
    45-54 years 886 11.7
    55-64 years 1205 15.9
    Others 2621 34.5
    Age Group
    Census Count Percent(%)
    Not Married 2891 49.8
    Registered Married 2323 40.0
    Defacto Relationship 590 10.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 5518 76.7
    Netherlands 107 1.5
    Papua New Guinea 184 2.6
    United Kingdom 423 5.9
    Other 310 4.3
    Others 648 9.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 78 1.1
    Christianity 4831 70.2
    Hinduism 42 0.6
    Islam 134 1.9
    No Religion 1759 25.5
    Others 41 0.6
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 363 13.5
    $600-$799 360 13.4
    $800-$999 321 11.9
    $1,000-$1,249 310 11.5
    $1,500-$1,999 286 10.6
    Others 1054 39.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 2513 42.6
    Employed, worked full-time 1959 33.2
    Employed, worked part-time 872 14.8
    Unemployed, looking for work 313 5.3
    Employed, away from work 240 4.1
    Person Characteristics
  • Census Count Percent(%)
    Technicians & trades workers 506 16.5
    Community & personal service workers 353 11.5
    Clerical & administrative workers 491 16.0
    Machinery operators & drivers 426 13.9
    Labourers 362 11.8
    Others 932 30.4
    Occupation
    Census Count Percent(%)
    Pre-school 108 7.4
    Infants/Primary 544 37.4
    Secondary 419 28.8
    Technical or Further Educational Institution 147 10.1
    University or other Tertiary Institutions 161 11.1
    Others 74 5.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 6528 89.7
    Flat, unit or apartment 494 6.8
    Semi-detached, row or terrace house, townhouse 240 3.3
    House or flat attached to a shop, office 19 0.3
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 992 34.2
    Fully owned 955 33.0
    Rented 935 32.3
    Other tenure type 15 0.5
    Tenure Type
Census 2011, ABS
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Recent sales & rentals