Melba is a smaller suburb in Australian Capital Territory within the Unincorporated ACT local government area (postcode 2615). With a population of 3,383, the suburb has an established demographic with a median age of 38. Households earn a median income of $121K per year, with an average household size of 2.7 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are Australian, English, Irish.
The median house price in Melba is $928,000, having dropped significantly 9% over the past year. Units have a median price of $634,000 (+5.6% YoY). The median weekly rent is $400 (Census 2021). This gives a gross rental yield of approximately 2.2%. The median monthly mortgage repayment is $2,100.
Melba is served by 2 schools, including 1 primary, 1 secondary. The average ICSEA score is 1048, which is around the national average of 1,000. Public transport access includes 43 bus stops. The crime rate in the Unincorporated ACT LGA is below average at 2,158 incidents per 100,000 population.
From an investment perspective, Melba offers a gross rental yield of 2.2%, rated as low yield. Property prices are near the state median ($928K/$1.0M). The price-to-income ratio of 7.7x is considered moderate. House prices have moved -9.0% year-on-year.
Melba is a smaller suburb in Australian Capital Territory within the Unincorporated ACT local government area (postcode 2615). With a population of 3,383, the suburb has an established demographic with a median age of 38. Households earn a median income of $121K per year, with an average household size of 2.7 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are Australian, English, Irish.
The median house price in Melba is $928,000, having dropped significantly 9% over the past year. Units have a median price of $634,000 (+5.6% YoY). The median weekly rent is $400 (Census 2021). This gives a gross rental yield of approximately 2.2%. The median monthly mortgage repayment is $2,100.
Melba is served by 2 schools, including 1 primary, 1 secondary. The average ICSEA score is 1048, which is around the national average of 1,000. Public transport access includes 43 bus stops. The crime rate in the Unincorporated ACT LGA is below average at 2,158 incidents per 100,000 population.
From an investment perspective, Melba offers a gross rental yield of 2.2%, rated as low yield. Property prices are near the state median ($928K/$1.0M). The price-to-income ratio of 7.7x is considered moderate. House prices have moved -9.0% year-on-year.