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Investment Property Melton, VIC, 3337

Suburb Snapshot

Melton is a suburb in the Melton Region of Victoria. Melton has a population of 8,069 people and 28.28% of its occupants live in rental accommodation. The median listing price for houses is $480,000 and this has changed 0.20% over the past year and changed -1.85% over 2 years.

The median rent in Melton for houses is $400 per week and the median rental yield is 4.33%. Stock on the market for houses/townhouses has changed -48.35% compared to last year and the average time to sell a house/townhouse is 119 days.The median listing price for units is $369,000 and this has changed 2.50% over the past year. The average unit takes 49 days to sell and the median rent for a unit in Melton is $350 per week, producing a rental yield of 4.93%.

Supply & Demand in Melton, Melton

1.55%

Current vacancy rate


61

Rental stock available


8,069

Population


28.28%

Rental population


1.02%

Current vacancy rate


615

Rental stock available


135,440

Population


19.54%

Rental population


0.93%

Current vacancy rate


28,886

Rental stock available


5,926,624

Population


24.77%

Rental population


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Statistical data for Melton, Melton

  House Townhouses Units
Median listing price $480,000 NA $369,000
Median price change - last quarter 0.20% NA 0.00%
Median price change - 1 year 0.20% NA 2.50%
Median price change - 2 years -1.85% NA 8.52%
  House Townhouses Units
Median weekly rent $400 $415 $350
Median yield % 4.33% NA 4.93%
Median rent change - 1 year 8.10% NA 6.06%
  House Units
Previous month sales 11 2
Stock on market previous month 47 5
Stock variance vs. last year -48.35% -50.00%
Average days on market 119 49

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