With a capital gain of 3.82% for the last 12 months, Melville, 6156 has performed for property investments than its average annual 2.87% property growth over the last 5 years.
When looking at the potential capital gains offered to property investors over the last 3 years, Melville comes in at number 137th in WA.
LACK OF BUYER INTEREST may well be the reason that Melville is offering property investors an average of -8.58. This rate of discount on properties puts Suburb at number 323th in terms of most discounted suburbs in WA
Using the current median advertised rental of $500 and the average annual increase in value of a median property of 2.87%, investors should hope to achieve an overall return of 3.48%
WA has seen average median house prices change by -6.57% which means that Melville, 6156 has not done well for property investors by showing a capital gain of -2.84% over the last year
The five-year average increase in median property values for Melville,6156 has given property investors a potential capital gain of -21.94% across each of those five years.
Vendor discounting in Melville is giving property investors an average Vendor Discount of around -11.29%. This puts suburb at number 14th in WA when ranking the most discounted suburbs.
Advertised rents are around the $360 mark per week – giving a return of 4.66% based on the median price in Suburb
Information supplied by:
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.