Melville is in the TOP 20% in WA when comparing median price capital growth over the last year. Melville gave property investors a very good capital gain figure when compared to the rest of the state, with 9.46%.
Comparing Melville,6156 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period
Vendor discounting in Melville is giving property investors an average Vendor Discount of around -6.05%. This puts suburb at number 309th in WA when ranking the most discounted suburbs.
Renters in Suburb are facing rents around $25870 per annum or $497.5 every week.
WA has seen average median house prices change by -4.63% which means that Melville, 6156 has not done well for property investors by showing a capital gain of -5.36% over the last year
Over the longer term, Melville has seen property prices show investors a -17.96% return over the last 3 years. This is an improvement over the last 12 months
Vendor discounting in Melville is giving property investors an average Vendor Discount of around -8.05%. This puts suburb at number 41th in WA when ranking the most discounted suburbs.
Residents and property investors in Melville have been waiting around 109.632 days to sell a property.
Property investors should expect to get $350 weekly from the median priced house in this suburb.
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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.