Suburb Profile Report for Melton South VIC (3338)

Melton South House: Median price $398,000, Annual capital growth 8.53%, Number of sales 280, Weekly median advertised rent $308

Melton South Unit: Median price $287,000, Annual capital growth 6.10%, Number of sales 73, Weekly median advertised rent $265

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

Source: CoreLogic

  • House Report
  • Unit Report

Investment property in Melton South 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 36.30%

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

Property buyers and investors in Melton South 3338 should be seeing an average reduction in asking price of around -4.01% . This means that Melton South is holding prices well when compared to other suburbs in VIC.

With the median price for a house in Melton South being $398000 and the advertised rent reaching $307.5 the gross rental yield for property investors calculates out to be 4.02%

Property value increases in Melton South have tracked higher than the VIC average of 8.36% over the last 12 months.

If we look at median property appreciation over just the last three months, Melton South has given property investors a paper return of 4.36%. This puts Suburb as 91 on a list of fastest fasting appreciating suburbs in VIC

LACK OF BUYER INTEREST may well be the reason that Melton South is offering property investors an average of -4.67. This rate of discount on properties puts Suburb at number 285th in terms of most discounted suburbs in VIC

At number 84 in a list of fastest selling suburbs, Melton South is in the TOP 10% of suburbs in Australia with an average of days on market 33.8 for properties listed there.

The VIC suburb of Melton South, 3338 is in the Melton local government area.

Metrics i HOUSE UNIT
$398,000 $287,000
5.85% 4.36%
36.30% 22.13%
8.53% 6.10%
$308 $265
280 73
4.02% 4.80%
31.46 33.8

Source: CoreLogic

DSR Score for property investment : Good (H), Very good (U)
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Demographics
Total population 8916
Median household income ($/weekly) 924
Median age of persons 36
Median housing loan repayment ($/monthly) 1192
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 1102 12.4
    25-34 years 1249 14.0
    35-44 years 1164 13.1
    45-54 years 1155 13.0
    55-64 years 1323 14.8
    Others 2924 32.8
    Age Group
    Census Count Percent(%)
    Not Married 3192 50.0
    Registered Married 2543 39.8
    Defacto Relationship 648 10.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 6515 79.5
    Netherlands 126 1.5
    Papua New Guinea 123 1.5
    United Kingdom 433 5.3
    Other 281 3.4
    Others 719 8.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 81 1.0
    Christianity 5287 68.0
    Islam 108 1.4
    Other Religious Groups 99 1.3
    No Religion 2145 27.6
    Others 60 0.8
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 412 14.0
    $600-$799 384 13.1
    $800-$999 355 12.1
    $1,000-$1,249 351 11.9
    $1,500-$1,999 314 10.7
    Others 1126 38.3
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 2678 40.4
    Employed, worked full-time 2268 34.3
    Employed, worked part-time 1039 15.7
    Unemployed, looking for work 375 5.7
    Employed, away from work 261 3.9
    Person Characteristics
  • Census Count Percent(%)
    Technicians & trades workers 610 17.1
    Community & personal service workers 413 11.6
    Clerical & administrative workers 577 16.2
    Machinery operators & drivers 521 14.6
    Labourers 454 12.7
    Others 993 27.8
    Occupation
    Census Count Percent(%)
    Pre-school 133 7.9
    Infants/Primary 622 36.8
    Secondary 515 30.5
    Technical or Further Educational Institution 164 9.7
    University or other Tertiary Institutions 185 10.9
    Others 72 4.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 7303 89.4
    Semi-detached, row or terrace house, townhouse 575 7.0
    Flat, unit or apartment 285 3.5
    House or flat attached to a shop, office 10 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 1246 39.4
    Rented 995 31.5
    Fully owned 904 28.6
    Other tenure type 14 0.4
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals