Suburb Profile Report for Melton VIC (3337)

Melton House: Median price $400,000, Annual capital growth 7.38%, Number of sales 152, Weekly median advertised rent $320

Melton Unit: Median price $315,000, Annual capital growth 5.92%, Number of sales 19, Weekly median advertised rent $290

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

Source: Monthly data update for Jul 2019 as supplied by CoreLogic. Data is reported to the period ending Apr 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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  • Unit Report

Melton has had a pretty average year for property investment returns compared to the rest of VIC, giving investors a capital gain of 1.52% to date .

When looking at the potential capital gains offered to property investors over the last 3 years, Melton comes in at number 33th in VIC.

Melton, 3337 is offering VIC ‘s 53th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 10% of discounts offered by this VIC.

In the last year 152 properties changed hands in Melton, which puts it as the 147th most active market in VIC when comparing the number of sales per suburb.

With the median price for a house in Melton being $400000 and the advertised rent reaching $320 the gross rental yield for property investors calculates out to be 4.15%

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 9.00%

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.

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

Melton is 82th on a list of best yielding suburbs for rents in VIC with a 4.79% return

Metrics i HOUSE UNIT
$400,000 $315,000
-2.20% -1.41%
1.52% 9.00%
7.38% 5.92%
$320 $290
152 19
4.15% 4.79%
58.170544 72.17647

Source: Monthly data update for Jul 2019 as supplied by CoreLogic. Data is reported to the period ending Apr 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (H), Balanced (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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