Powered by MOMENTUM MEDIA
AREA REPORTS

Melville

Suburb Profile

Melville - FREE SUBURB PROFILE REPORT
POSTAL CODE: WA,6156

house
unit

MELVILLE, 6156 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.

Average median house prices in WA have risen as a whole, pulling MELVILLE, 6156 values up and netting property investors a capital gain of 8.36% for the past year.

Investors saw the median home price rise to $842,500.

Profits due to an upward trend in home prices in the suburb averaged 5.14% per annum over a 3-year period.

MELVILLE now ranks at the 176th 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 MELVILLE are high, as opposed to average gains per annum over the past five years.

Because of this real estate investors could earn a rental income of $480 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 MELVILLE, homes and units usually stay on listing for an average of 53.0 days.

In 2016, 86 properties were sold in MELVILLE during the past year, making it the 28th most active market in WA based on total real estate transactions.

Data report can be found below

KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $842,500 $506,000
GROWTH REPORT
Median Quarterly 3.06% 9.76%
Median 12 month 8.36% 26.18%
Median 3 years 15.41% -0.49%
Median 5 years 7.67% -9.64%
10 years average annual 1.21% 1.91%
Weekly media advert. rent $480 $400
Time on Market 53.0 days 98.1 days
Gross Rental Yield Percent 2.96% 4.11%
demographics (median values)
Total Population
4823
Weekly Household Income
1090
Household Size
2.40
demographics
select a category
Age group
Top 10 Birth Countries
Dwelling Structures
Education
Household Income
Labour Force
Marital Status
Occupation
Religious Affiliation
Tenure Type

Subscribe to get the latest news and updates

luxury suburbs

$3m-plus suburbs double during the pandemic as allure of luxury property grows

With more Australians racking up more savings than ever before and affordability improving across the real estate market, the allure of luxu...

Mollymook Beach

Here are the suburbs where it’s cheaper to buy than rent

As mortgage rates hit historical lows, Aussies are increasingly wondering whether it’s cheaper to buy or rent. ...

Poor wage growth

Poor wage growth could impede home price growth

With wages growth at record-low levels, a property expert has warned continuing low and flat wages could impede home price growth. ...

auction markets

How auction markets are tipped to change in 2021

Despite momentary disruptions, the auction market found a way to thrive and boom amid the impact of COVID-19. ...

Housing construction

Housing construction costs rise as demand persists

Residential housing construction costs are trending higher as dwelling approvals for houses continue to reach record highs, a new report has...

go country

As 1 in 5 city residents prepares to ‘go country’, calls increase for regional housing reform

With one in five city residents tipped to move to the regions, experts are pressing for reforms to improve limited supply, inadequate infras...

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.