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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 $590,000.
The upward trend in home prices in MELROSE PARK, 5039 averaged 2.59% per annum over a 3-year period.
Average weekly rents on listings have reached the $500 mark, reflecting a 4.41% increase in returns based on the current median price in MELROSE PARK.
An average of 2.25 real estate transactions take place per month in MELROSE PARK which translates to 27 per annum.
27 properties were sold in MELROSE PARK in 2016, making it the 252nd most active market in SA based on total real estate transactions.
MELROSE PARK, 5039 places 256th in Australia based on median property value growth during the quarter.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $590,000 | N/A |
| GROWTH REPORT | ||
| Median Quarterly | 0.68% | N/A |
| Median 12 month | -5.68% | N/A |
| Median 3 years | 7.76% | N/A |
| Median 5 years | 19.74% | N/A |
| 10 years average annual | 3.06% | N/A |
| Weekly media advert. rent | $500 | N/A |
| Time on Market | 0.0 days | N/A |
| Gross Rental Yield Percent | 4.41% | N/A |
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