Suburb Profile Report for Melville WA (6156)

Melville House: Median price $867,500, Annual capital growth 1.87%, Number of sales 120, Weekly median advertised rent $500

Melville Unit: Median price $507,500, Annual capital growth 2.89%, Number of sales 30, Weekly median advertised rent $425

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

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.

  • Expert Report
  • House Report
  • Unit Report

Melville, 6156 ranked 328th in WA when comparing growth in median property values or capital gain over the last 12 months. Melville is one of 1662 in our list for WA

When looking at the potential capital gains offered to property investors over the last 3 years, Melville comes in at number 55th in WA.

Melville6156 is located in WA which offers an average discount of -4.59% to property investors. Melville itself is showing figures that indicate -3.77% is the average achievable by property buyers investing in the suburb.

Residents and property investors in Melville have been waiting around 32.8068 days to sell a property.

Situated 11.19km from the CBD, Melville is one of Melville (C) localities in the postcode 6156.

Investment property in Melville has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 7.18%

While Melville,6156 ranked number 79th in WA for increase in median house value (annualised) increase, it is ranked 24th over the last 5 years.

Often selling an investment property can take time, and in Melville the average time real estate has been on the market is 64 days.

The WA suburb of Melville, 6156 is in the Melville (C) local government area.

Information supplied by:


August 2017

M
O

W
E

Apartment sales benefit from city lifestyle

Postcode: 6156

Median unit price: $511,875

Three-year growth: 5.00%

Rental yield: 3.66%

A 25-minute drive southwest of Perth will bring you to the suburb of Melville, nestled in the city that shares its name. Despite WA’s generally poor reputation in the national property market, Melville has performed well on the whole.

Unit values fell slightly by 1.47% in the past year, but rebounded in the May 2017 quarter with over 16% growth. With an average rental yield of 3.66%, this is a good place for investors to stake a claim on as Perth waits to bottom out.

Melville places a heavy emphasis on community, and hosts many events for the youth and the arts. There are also libraries and museums in the area, in addition to sports facilities and community centres.  

Metrics i HOUSE UNIT
$867,500 $507,500
1.17% 2.01%
7.43% 7.18%
1.87% 2.89%
$500 $425
120 30
3.00% 4.35%
32.8068181818182 64

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 : Good (U), Good (H)
Find a mortgage broker in Melville WA
Demographics
Total population 5198
Median household income ($/weekly) 1567
Median age of persons 40
Median housing loan repayment ($/monthly) 2000
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 688 13.2
    25-34 years 571 11.0
    35-44 years 887 17.1
    45-54 years 712 13.7
    55-64 years 510 9.8
    Others 1829 35.2
    Age Group
    Census Count Percent(%)
    Registered Married 2038 54.0
    Not Married 1391 36.8
    Defacto Relationship 346 9.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 3833 76.9
    Japan 67 1.3
    Papua New Guinea 121 2.4
    United Kingdom 459 9.2
    Other 143 2.9
    Others 364 7.3
    Country of Birth
    Census Count Percent(%)
    Buddhism 44 0.9
    Christianity 3303 69.1
    Islam 27 0.6
    Other Religious Groups 29 0.6
    No Religion 1348 28.2
    Others 28 0.6
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 179 10.2
    $1,500-$1,999 208 11.9
    $2,000-$2,499 149 8.5
    $2,500-$2,999 222 12.7
    $3,000-$3,499 150 8.6
    Others 843 48.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1546 38.7
    Not in the labour force 1315 32.9
    Employed, worked part-time 876 21.9
    Employed, away from work 170 4.3
    Unemployed, looking for work 86 2.2
    Person Characteristics
  • Census Count Percent(%)
    Managers 355 13.7
    Professionals 740 28.5
    Technicians & trades workers 354 13.6
    Community & personal service workers 271 10.4
    Clerical & administrative workers 431 16.6
    Others 445 17.1
    Occupation
    Census Count Percent(%)
    Pre-school 96 7.8
    Infants/Primary 510 41.7
    Secondary 270 22.1
    Technical or Further Educational Institution 89 7.3
    University or other Tertiary Institutions 231 18.9
    Others 28 2.3
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4530 93.5
    Flat, unit or apartment 165 3.4
    Semi-detached, row or terrace house, townhouse 150 3.1
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 800 41.1
    Being purchased 785 40.3
    Rented 347 17.8
    Other tenure type 14 0.7
    Tenure Type
Census 2011, ABS
Chart Table