At number 3868th in the list of Australian suburbs ordered by increase in median house value over the last year, Melville, 6156 is in the BOTTOM 10% with a property value increase of -8.44% recorded in median house prices.
The five-year average increase in median property values for Melville,6156 has given property investors a potential capital gain of -1.08% across each of those five years.
Property investors looking for a bargain in Melville should be aiming for at least -9.78% off the asking price, which is the average vendor discount being achieved at the moment.
Over the last year, property investments in Melville, 6156 have given investors a capital gain of -17.36%. This compares very badly with the -4.34% for WA as a whole.
Melville,6156 has offered an average of -17.36% return per annum in house price rises to property investors over the last three years.
Melville, 6156 is offering WA ‘s 59th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this WA.
Situated 10.75km from the CBD, Melville is one of Melville localities in the postcode 6156.
Despite WA’s generally poor reputation in the national property market, Melville's property market has performed well on the whole.Full summary
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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. Close