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Melrose Park

POSTAL CODE: NSW, 2114
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MELROSE PARK ranks 708th in NSW when it comes to estimated capital gains experienced by property investors over the past three years.

The suburb’s capital gain of 8.29% for the past year is lower than average compared to its 64.5% growth within a five-year period.

Also in MELROSE PARK, the median home price is sitting at $2,452,700, and the average rent at $850, this suggests property owners could potentially earn a 1.8% increase in gross rental yield.

Property investors have seen a 2.2% gain in MELROSE PARK based on an increase in median home prices for the past three months.

A survey of average capital gains or median home price increase in suburbs across the country shows that this suburb obtained a 6.76% growth over a ten-year period. It ranks 2118th on our list of suburbs that property investors should look into.

Surburb overview

Melrose Park, situated approximately 12 kilometres north-west of Sydney's central business district, is a riverside suburb within the City of Ryde and City of Parramatta. The suburb spans about 1.08 square kilometres and borders the Parramatta River to the south. It features seven parks, including Ryde-Parramatta Golf Course and Memorial Park, which offer a range of recreational amenities and scenic views.

As per the 2021 Census, Melrose Park had a population of 2,059 residents. The community is culturally diverse, with 56.7% of residents born in Australia, followed by 9.3% from China and 5.6% from South Korea. Languages spoken at home include English (54.4%), Mandarin (9.8%), Korean (7.7%), and Cantonese (5.5%). The median age is 37 years, and households are primarily family-oriented, with an average of 2.7 people per household.

Several bus routes, including the 501, 513, 524, and 544, facilitate public transportation in Melrose Park, connecting to West Ryde, Parramatta, and other areas. The nearest train station is Meadowbank Station on the T9 Northern Line, approximately a 27-minute walk away, offering direct services to Central Station in about 25 minutes. Meadowbank Wharf provides access to the F3 Parramatta River ferry, with services to Barangaroo departing every 20 minutes.

Essential establishments in Melrose Park include Melrose Park Public School, located at 110 Wharf Road. The school is undergoing a significant redevelopment to increase its capacity from 170 to over 700 students. Additionally, a new public high school is planned adjacent to the existing primary school, with construction scheduled to commence in 2025 and the school opening anticipated in 2027.

Recreational activities are abundant, with parks like Memorial Park offering playgrounds, picnic areas, and walking paths along the Parramatta River. The suburb's proximity to the river provides opportunities for water-based activities and scenic walks. The Ryde-Parramatta Golf Course offers facilities for golf enthusiasts.

Melrose Park is undergoing a $5 billion urban renewal project aimed at transforming the suburb into a sustainable community. The development includes plans for approximately 5,000 new apartments, affordable housing, public parks, community facilities, and improved transport links, including electric shuttle buses and enhanced cycleways.

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