VIC/
Melton

Suburb Profile

Melton - FREE SUBURB PROFILE REPORT
POSTAL CODE: VIC,3337

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A 31.67% increase in median property prices in MELTON, 3337 has allowed this suburb to join the ranks of best performing suburbs in VIC, settling at number 21st.

A steady increase in median property prices over a five-year period in the suburb translates to a 64.58% capital gain.

It 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 $395,000

The augmented property values in the suburb are trailing above the territorial average of 9.93% in 2016.

On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $305.

Home owners selling their properties and realtors in MELTON usually have to wait an average of 30.8 days days before their assets are lifted off the market.

The VIC suburb ranks 186th on the list of best yielding suburbs for rental properties in VIC, posting a 4.02% return.

It also places places 72nd in Australia based on median property value growth during the quarter.

KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $395,000 $307,500
GROWTH REPORT
Median Quarterly 6.76% 5.31%
Median 12 month 31.67% 36.67%
Median 3 years 64.58% 36.67%
Median 5 years 63.9% 32.54%
10 years average annual 8.06% 6.67%
Weekly media advert. rent $305 $280
Time on Market 30.8 days 32.1 days
Gross Rental Yield Percent 4.02% 4.73%
demographics (median values)
Total Population
7303
Weekly Household Income
783.2
Household Size
2.50
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Melton, VIC
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