Suburb Profile Report for Melton South VIC (3338)

Melton South House: Median price $400,000, Annual capital growth 7.47%, Number of sales 175, Weekly median advertised rent $320

Melton South Unit: Median price $299,500, Annual capital growth 5.99%, Number of sales 38, Weekly median advertised rent $290

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

Source: Monthly data update for Oct 2019 as supplied by CoreLogic. Data is reported to the period ending Jul 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

Property investors who have had real estate in Melton South, 3338 should be ok 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 -2.44%

If we look at median property appreciation over just the last three months, Melton South has given property investors a paper return of -2.44%. This puts Suburb as 499 on a list of fastest fasting appreciating suburbs in VIC

The most recent median price for Melton South is $400000, with sellers offering an average of -7.86% off the asking price.

Residents and property investors in Melton South have been waiting around 63.2963 days to sell a property.

Melton South is 176th on a list of best yielding suburbs for rents in VIC with a 4.16% return

Property value increases in Melton South have tracked just lower than the VIC average of 0.10% over the last 12 months.

Over the longer term, Melton South has seen property prices show investors a 37.39% return over the last 3 years. This is worse than over the last 12 months

Property buyers and investors in Melton South 3338 should be seeing an average reduction in asking price of around -6.28% . 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 $299500 and the advertised rent reaching $290 the gross rental yield for property investors calculates out to be 5.04%

Metrics i HOUSE UNIT
$400,000 $299,500
-2.44% -3.39%
-2.44% -3.39%
7.47% 5.99%
$320 $290
175 38
4.16% 5.04%
63.2962962962963 57

Source: Monthly data update for Oct 2019 as supplied by CoreLogic. Data is reported to the period ending Jul 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (H), Good (U)
Find a mortgage broker in Melton South VIC
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