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Investment Property West Melbourne, VIC, 3003

Suburb Snapshot

West Melbourne is a suburb in the Melbourne Region of Victoria. West Melbourne has a population of 5,517 people and 49.96% of its occupants live in rental accommodation. The median listing price for houses is $1,000,000 and this has changed -16.67% over the past year and changed -23.08% over 2 years.

The median rent in West Melbourne for houses is $695 per week and the median rental yield is 3.61%. Stock on the market for houses/townhouses has changed 18.75% compared to last year and the average time to sell a house/townhouse is 105 days.The median listing price for units is $514,500 and this has changed -6.46% over the past year. The average unit takes 186 days to sell and the median rent for a unit in West Melbourne is $570 per week, producing a rental yield of 5.76%.

Supply & Demand in West Melbourne, Melbourne

2.94%

Current vacancy rate


170

Rental stock available


5,517

Population


49.96%

Rental population


2.64%

Current vacancy rate


3,541

Rental stock available


135,965

Population


52.20%

Rental population


0.94%

Current vacancy rate


29,256

Rental stock available


5,926,624

Population


24.77%

Rental population


This is information is brought to you by realestateinvestar.com.au - The online home for property investors

Statistical data for West Melbourne, Melbourne

  House Townhouses Units
Median listing price $1,000,000 $1,850,000 $514,500
Median price change - last quarter -18.37% 15.62% 2.90%
Median price change - 1 year -16.67% 68.94% -6.46%
Median price change - 2 years -23.08% NA -7.55%
  House Townhouses Units
Median weekly rent $695 $880 $570
Median yield % 3.61% 2.47% 5.76%
Median rent change - 1 year 6.92% 13.54% 3.63%
  House Units
Previous month sales 4 45
Stock on market previous month 19 160
Stock variance vs. last year 18.75% -10.61%
Average days on market 105 186

West Melbourne investment property listings

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