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.