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.
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Apartment sales benefit from city lifestyle
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.