Suburb Profile Report for Melton South VIC (3338)

Melton South House: Median price $391,500, Annual capital growth 6.48%, Number of sales 168, Weekly median advertised rent $330

Melton South Unit: Median price $299,750, Annual capital growth 4.37%, Number of sales 46, Weekly median advertised rent $290

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

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

Over the last year, property investments in Melton South, 3338 have given investors a capital gain of -4.51%. This compares very badly with the 2.87% for VIC as a whole.

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.

Vendor discounting in Melton South is giving property investors an average Vendor Discount of around -7.44%. This puts suburb at number 139th in VIC when ranking the most discounted suburbs.

Situated 36.52km from the CBD, Melton South is one of Melton (C) localities in the postcode 3338.

At number 1079th in the list of Australian suburbs ordered by increase in median house value over the last year, Melton South, 3338 is in the BOTTOM 30% with a property value increase of -4.84% recorded in median house prices.

When looking at the potential capital gains offered to property investors over the last 3 years, Melton South comes in at number 65th in VIC.

Vendor discounting in Melton South is giving property investors an average Vendor Discount of around -6.57%. This puts suburb at number 81th in VIC when ranking the most discounted suburbs.

Property investors should expect to get $290 weekly from the median priced house in this suburb.

Metrics i HOUSE UNIT
$391,500 $299,750
0.38% 1.44%
-4.51% -4.84%
6.48% 4.37%
$330 $290
168 46
4.38% 5.03%
65.6062992125984 62.0540540540541

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Balanced (H), 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
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