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Melton West
AREA REPORTS

Melton West

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

house

MELTON WEST, 3337 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Average median house prices in VIC have risen as a whole, pulling MELTON WEST, 3337 values up and netting property investors a capital gain of 9.57% for the past year.

Investors saw the median home price rise to $515,000.

Profits due to an upward trend in home prices in the suburb averaged 4.81% per annum over a 3-year period.

MELTON WEST now ranks at the 568th place on a list of fastest growing suburbs in the territory.

Figures from the previous quarter show that capital gains for real estate buyers in MELTON WEST are low, as opposed to average gains per annum over the past five years.

Because of this real estate investors could earn a rental income of $350 based on current median home prices.

Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In MELTON WEST, homes and units usually stay on listing for an average of 34.0 days.

In 2016, 221 properties were sold in MELTON WEST during the past year, making it the 460th most active market in VIC based on total real estate transactions.

Data report can be found below

Melton West
KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $515,000 N/A
GROWTH REPORT
Median Quarterly 1.98% N/A
Median 12 month 9.57% N/A
Median 3 years 14.44% N/A
Median 5 years 55.12% N/A
10 years average annual 5.91% N/A
Weekly media advert. rent $350 N/A
Time on Market 34.0 days N/A
Gross Rental Yield Percent 3.53% N/A
demographics (median values)*
Total Population
36454
Weekly Household Income
1296
Household Size
2.80
Age
33
Monthly Loan Repayment
1465
* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.
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