AREA REPORTS

Melba

ACT/
Melba

Suburb Profile

Melba - FREE SUBURB PROFILE REPORT
POSTAL CODE: ACT,2615

house
unit

MELBA, 2615 ranks 715th on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 13.1% for property investors.

Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.

The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $617,500.

The upward trend in home prices in MELBA, 2615 averaged 6.63% per annum over a 3-year period.

Average weekly rents on listings have reached the $550 mark, reflecting a 4.63% increase in returns based on the current median price in MELBA.

An average of 3.33 real estate transactions take place per month in MELBA which translates to 40 per annum.

40 properties were sold in MELBA in 2016, making it the 38th most active market in ACT based on total real estate transactions.

MELBA, 2615 places 37th in Australia based on median property value growth during the quarter.

Data report can be found below

KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $617,500 $467,500
GROWTH REPORT
Median Quarterly 1.23% 3.89%
Median 12 month 13.1% N/A
Median 3 years 19.9% N/A
Median 5 years 18.16% 21.43%
10 years average annual 4.66% N/A
Weekly media advert. rent $550 $395
Time on Market 71.6 days 0.0 days
Gross Rental Yield Percent 4.63% 4.39%
demographics (median values)
Total Population
3266
Weekly Household Income
1480
Household Size
2.70
demographics
select a category
Age group
Top 10 Birth Countries
Dwelling Structures
Education
Household Income
Labour Force
Marital Status
Occupation
Religious Affiliation
Tenure Type

Subscribe to get the latest news and updates

Apartment building

‘Great buying opportunities’ for careful investors looking at new-builds

Situations like Sydney’s Opal Tower fiasco have buyers cautious of the new-build market, but there are bargains to be had for those who ar...

suburbs

1 capital city records value spike, others hold steady and drop

Values across major capital city markets remained largely steady or in decline last week, but one capital recorded an overall rise in house ...

Wood cladding

$1m-plus fines loom as new building compliance deadlines approach

Both NSW and Queensland have deadlines fast approaching relating to proper use of building materials, with penalties for non- compliance rea...

Kenneth Hayne

Borrowers up for ‘significantly’ more with post-royal commission changes

The head of a mortgage broker aggregator has spoken out against the banking royal commission final report, claiming if the recommendations o...

Aerial suburbs

How real estate agents’ activity are influenced by market conditions

Despite the softening of property markets across Australia, Real Estate Business’ Tim Neary said that the best real estate agents are ‘s...

Aerial shot of suburbs

Investors not ‘playing’ the game could miss out big

While timing in the market is not as important as time in the market, it can still mean the difference between getting and missing out on a ...