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Melton South, VIC 3338

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If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Melton South, VIC 3338 located in Melbourne to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

2BR

3BR

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

3BR

Yield 

1BR

2BR

3BR

Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Melton South, VIC 3338”

  1. The total adult population (15 years or older) of Melton South 3338 VIC is 8,702, with a median age of 35. Of those, 40.38% are married, 15.59% are divorced or separated, 38.66% are single and 5.38% are widowed.

    The average household size is 2.6 people per dwelling, and the median household monthly income is estimated to be $5,608. The median monthly mortgage repayment for households in this suburb is $1,300 which is 23.18% of their earnings.

    Source: ABS Census Data (2021)

  2. Nestled in the heart of Victoria, the suburb of Melton South 3338, home to approximately 5,749 households, presents an intriguing property market, particularly for the housing sector. As of Q3 2023, the typical prices for houses in Melton South 3338 are approximately $576,736, with weekly rentals figured around the median of $352. This gives the realm a seemingly lucrative indicative yield of 3.17%, placing it slightly above the minimum attractive market requirement for investors prioritising steady cash flow.

    An examination of the socio-economic landscape shows an IRSAD score of 856 out of a possible 1217, suggesting a moderate socio-economic inclination among the populace. The area also vaunts a respectable renter to owner ratio of 35%, placing it a shade above the optimal benchmark but remaining a viable bet for investors given the overall competitiveness of the local rental market. In Melton South, the units to houses ratio is an attractive 12%, indicating lesser competition amongst landlords for tenants, provided the area’s predilection for houses over units.

    Melton South’s housing market presents an affordability index standard of 40 years. While this stands above the 30-year mortgage concept, it should be taken into consideration that factors such as current interest rates, median family income, and typical property prices are integral in these calculations, often magnifying the perspective.

    From a supply viewpoint, the area demonstrates a balanced scenario, keeping to the middle ground with a stock on market Percentage of 1.21% and observing an inventory level of roughly 3.47 months. With a building approvals ratio of 5.57%, below the saturation point, it ensures a steady introduction of new stock into the local property market.

    Demand metrics are quite neutral in Melton South, with houses staying for an average of 52 days on the market before getting snatched and a vacancy rate, inclusive of both houses and units, being 1.97%. The buy search index for houses sits at 3, signifying relatively neutral demand.

    While it’s critical to keep an eye on these metrics, understanding their implications and adapting strategies towards favourable outcomes are of equal importance. Remember, it’s entirely acceptable to have some metrics veering towards unfavourable ranges, given that most others lean to the favourable end. Thanks to modern data analytics like HtAG Analytics’ RCS (Relative Composite Score), investors can make informed decisions relying on the collective analysis of a myriad of key metrics.

    Melton South 3338’s property market demonstrates a balance of supply and demand factors with promising prospects, making it an interesting region to keep an eye on for property investors and buyers alike.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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