Suburb Profile Report for Melton VIC (3337)

Melton House: Median price $419,000, Annual capital growth 5.54%, Number of sales 151, Weekly median advertised rent $320

Melton Unit: Median price $330,000, Annual capital growth 3.90%, Number of sales 35, Weekly median advertised rent $308

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

Source: Monthly data update for Sep 2021 as supplied by CoreLogic. Data is reported to the period ending Jun 2021. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

At number 3148th in the list of Australian suburbs ordered by increase in median house value over the last year, Melton, 3337 is in the BOTTOM 30% with a property value increase of 7.44% recorded in median house prices.

Over the longer term, Melton has seen property prices show investors a 2.44% return over the last 3 years. This is an improvement over the last 12 months

Our latest figures would indicate that property sellers in Melton are currently offering property investors an average price cut of -4.39% 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 44.3362 days.

A $320 per week rent on the median house gives suburb investors a gross yield of circa 3.97%, without taking into account capital value appreciation, which has been averaging out at 5.54%.

At number 973th 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 4.76% recorded in median house prices.

When looking at the potential capital gains offered to property investors over the last 3 years, Melton comes in at number 266th in VIC.

The most recent median price for Melton is $330000, with sellers offering an average of -2.65% off the asking price.

Melton, 3337’s gross rental yield is 4.85%

Metrics i HOUSE UNIT
$419,000 $330,000
4.75% 0.61%
7.44% 4.76%
5.54% 3.90%
$320 $308
151 35
3.97% 4.85%
44.3362068965517 26.7037037037037

Source: Monthly data update for Sep 2021 as supplied by CoreLogic. Data is reported to the period ending Jun 2021. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Very good (U), Above average (H)
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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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