Melton South

POSTAL CODE: VIC, 3338

HOUSE

UNIT

MELTON SOUTH ranks 258th in VIC when it comes to estimated capital gains experienced by property investors over the past three years.

The suburb’s capital gain of 6.95% for the past year is higher than average compared to its 31.21% growth within a five-year period.

Also in MELTON SOUTH, the median home price is sitting at $581,250, and the average rent at $430, this suggests property owners could potentially earn a 3.85% increase in gross rental yield.

Property investors have seen a -0.56% drop in MELTON SOUTH based on a decrease 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 8.81% growth over a ten-year period. It ranks 732nd on our list of suburbs that property investors should look into.

A steady increase in median property prices over a five-year period in MELTON SOUTH, 3338 translates to a 14.86% capital gain.

MELTON SOUTH, 3338 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 $425,000.

Augmented property values in MELTON SOUTH are trailing above the VIC average of 4.05% for the past year.

Real estate investors could earn a rental income of $385 based on current median home prices for the suburb.

Home owners selling their properties and realtors in MELTON SOUTH usually have to wait an average of 40.8 days days before their assets are lifted off the market.

MELTON SOUTH ranks 143rd on the list of best yielding suburbs for rental properties in VIC, posting a 4.71% return.

MELTON SOUTH, 3338 places 56th in Australia based on median property value growth during the quarter.

Surburb overview

Melton South is a residential suburb in Melbourne’s outer west, located within the City of Melton, approximately 35 kilometres west of Melbourne’s central business district.

Situated south of central Melton and bounded in part by the Western Freeway and Toolern Creek, the suburb forms a key part of the broader Melton urban area.

According to the 2021 Census, Melton South had a population of 12,108, reflecting ongoing growth driven by housing development in Melbourne’s western corridor.

Residential areas include a mix of established housing dating from the 1970s and 1980s, along with more recent subdivisions that have expanded the suburb’s footprint.

Melton South railway station provides V/Line services to Melbourne’s CBD via the Ballarat line, making the suburb one of the primary public transport access points for the municipality.

Local bus services connect the surrounding neighbourhoods to the station and to retail and community facilities across Melton.

Educational facilities in the suburb include several primary schools and Staughton College, with additional schooling options available in neighbouring suburbs.

Retail services are provided through local shopping strips and centres, while larger commercial facilities are located nearby in central Melton, including Woodgrove Shopping Centre.

Recreational amenities include sporting reserves, playgrounds and shared paths along Toolern Creek, supporting active and passive recreation.

Melton South experiences a temperate climate with warm-to-hot summers and cool winters, typical of Melbourne’s western plains.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$581,250	$425,000
Growth Report
Median Quarterly	-0.56%	3.66%
Median 12 month	6.95%	10.39%
Median 3 years	21.09%	14.86%
Median 5 years	31.21%	32.81%
10 years average annual	8.81%	7.13%
Weekly media advert. rent	$430	$385
Time on Market	53.7 days	40.8 days
Gross Rental Yield Percent	3.85%	4.71%

Demographics (Median Values)*

Total Population 23412

Weekly Household Income 1337

Household Size 2.80

Average Age 33

Monthly Loan Repayment 1517

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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