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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 20.96% for the past year.
Investors saw the median home price rise to $441,500.
Profits due to an upward trend in home prices in the suburb averaged 13.39% per annum over a 3-year period.
MELTON WEST now ranks at the 138th 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 $330 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 42.1 days.
In 2016, 232 properties were sold in MELTON WEST during the past year, making it the 406th most active market in VIC based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $441,500 | $370,000 |
| GROWTH REPORT | ||
| Median Quarterly | 3.88% | N/A |
| Median 12 month | 20.96% | 37.93% |
| Median 3 years | 40.16% | 53.85% |
| Median 5 years | 44.75% | 34.55% |
| 10 years average annual | 6.89% | 6.29% |
| Weekly media advert. rent | $330 | $277.5 |
| Time on Market | 42.1 days | 49.9 days |
| Gross Rental Yield Percent | 3.89% | 3.9% |
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