Suburb Profile Report for Melville WA (6156)

Melville House: Median price $747,500, Annual capital growth 2.87%, Number of sales 98, Weekly median advertised rent $500

Melville Unit: Median price $402,000, Annual capital growth -0.32%, Number of sales 30, Weekly median advertised rent $360

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

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

  • Expert Report
  • House Report
  • Unit Report

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:


August 2017

M
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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
$747,500 $402,000
1.53% 0.00%
3.82% -2.84%
2.87% -0.32%
$500 $360
98 30
3.48% 4.66%
74.3055555555556 129.066666666667

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

DSR Score for property investment : Balanced (H), Balanced (U)
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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
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