Property investors who have had real estate in Melton, 3337 should be relatively unhappy with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -7.32%
If we look at median property appreciation over just the last three months, Melton has given property investors a paper return of -1.30%. This puts Suburb as 563 on a list of fastest fasting appreciating suburbs in VIC
LACK OF BUYER INTEREST may well be the reason that Melton is offering property investors an average of -6.94. This rate of discount on properties puts Suburb at number 102th in terms of most discounted suburbs in VIC
With the median price for a house in Melton being $380000 and the advertised rent reaching $320 the gross rental yield for property investors calculates out to be 4.38%
At number 828th in the list of Australian suburbs ordered by increase in median house value over the last year, Melton, 3337 is in the BOTTOM 50% with a property value increase of -2.67% recorded in median house prices.
Melton,3337 was ranked 1083 in Australia by increase in median property value over the quarter.
Our latest figures would indicate that property sellers in Melton are currently offering property investors an average price cut of -4.97% below the asking price at the moment.
Using the current median advertised rental of $290 and the average annual increase in value of a median property of 4.46%, investors should hope to achieve an overall return of 4.86%