Suburb Profile Report for Melton VIC (3337)

Melton House: Median price $410,000, Annual capital growth 7.90%, Number of sales 198, Weekly median advertised rent $310

Melton Unit: Median price $317,000, Annual capital growth 6.41%, Number of sales 37, Weekly median advertised rent $280

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
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Property investors who have had real estate in Melton, 3337 should be pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 25.19%

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

Sellers are offering property buyers an average discount of -4.59% to buyers in Melton at the moment, which is less than average for the rest of VIC.

Over the last year, property investments in Melton, 3337 have given investors a capital gain of 29.39%. This compares very favourably with the 7.50% for VIC as a whole.

The five-year average increase in median property values for Melton,3337 has given property investors a potential capital gain of 37.83% across each of those five years.

Our latest figures would indicate that property sellers in Melton are currently offering property investors an average price cut of -3.90% below the asking price at the moment.

Often selling an investment property can take time, and in Melton the average time real estate has been on the market is 34.38 days.

Melton, 3337’s gross rental yield is 4.59%

Metrics i HOUSE UNIT
$410,000 $317,000
3.54% 3.09%
25.19% 29.39%
7.90% 6.41%
$310 $280
198 37
3.93% 4.59%
32.53 34.38

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