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Melton, VIC 3337

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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, VIC 3337 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, VIC 3337”

  1. The total adult population (15 years or older) of Melton 3337 VIC is 6,467, with a median age of 40. Of those, 37.68% are married, 17.27% are divorced or separated, 38.92% are single and 6.08% are widowed.

    The average household size is 2.4 people per dwelling, and the median household monthly income is estimated to be $5,212. The median monthly mortgage repayment for households in this suburb is $1,300 which is 24.94% of their earnings.

    Source: ABS Census Data (2021)

  2. Overview:
    Melton, with the postal code 3337, is a vibrant suburb located in Victoria, Australia. As of the Q3 numbers for 2023, it is estimated to host around 4,688 varied households, providing a myriad of opportunities for property investors and buyers’ agents.

    Detailed Property Market Statistics:
    In the third quarter of 2023, the median house price in Melton stands at an attractive $510,262. With a median weekly rent of $353, this produces a healthy indicative yield of approximately 3.6% – this sits right in line with the market sweet spot for cash-flow centred investors.

    Delving into the socio-economic aspects of the suburb, Melton possesses an IRSAD score of 845 out of a potential 1217. This score signals a healthy socio-economic status for the suburb’s residents.

    The renter to owner ratio of Melton stands at 34%, representing a balanced market, allowing both investors and homeowners to thrive. Furthermore, Melton presents minimal competition regarding rentals, with the units to house ratio being only 12%.

    However, the affordability index paints a slightly challenging picture. At 38 years, it takes relatively longer for residents to fully own properties compared to suburbs with an index below 30 years.

    The supply metrics show a somewhat neutral picture. With a stock on market percentage of 0.57% and an inventory level of 1.84 months, there’s a balanced scale of supply that could offer opportunities for savvy investors. Additionally, the building approvals ratio for houses is at a low of 0.02%, conveying a favourable future supply situation.

    The demand for houses in Melton appears to be stable. The average house remains on market for 48 days, and the suburb’s vacancy rate for combined houses and units is 1.43% – a rate that indicates normal demand. The buy search index for houses is 4, which, although standard, should be monitored for any significant fluctuations over time.

    In summary, despite certain challenging elements such as the affordability index, Melton’s property market displays several favourable metrics for thoughtful investors. It is crucial, though, to continually observe the market trends and evolving conditions in this area. The RCS (Relative Composite Score) can be a beneficial tool in doing so, delivering detailed research automation across a variety of relevant market metrics.

    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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