Melrose Park is a smaller suburb in South Australia within the Mitcham local government area (postcode 5039). With a population of 2,319, the suburb has an established demographic with a median age of 38. Households earn a median income of $82K per year, with an average household size of 2.4 people. The most common occupations are professionals, community & personal service, technicians & trades. The top ancestries reported are English, Australian, Irish.
The median house price in Melrose Park is $1.1 million, having surged 17.6% over the past year. The current median weekly rent is $555. This gives a gross rental yield of approximately 2.6%. The median monthly mortgage repayment is $1,900.
Melrose Park is served by 1 school, including 1 primary. The average ICSEA score is 1098, which is above the national average of 1,000. Public transport access includes 15 bus stops. The crime rate in the Mitcham LGA is moderate at 6,511 incidents per 100,000 population.
From an investment perspective, Melrose Park offers a gross rental yield of 2.6%, rated as low yield. Property prices are near the state median ($1.1M/$950K). The price-to-income ratio of 13.7x is considered stretched. House prices have moved +17.6% year-on-year.
Melrose Park is a smaller suburb in South Australia within the Mitcham local government area (postcode 5039). With a population of 2,319, the suburb has an established demographic with a median age of 38. Households earn a median income of $82K per year, with an average household size of 2.4 people. The most common occupations are professionals, community & personal service, technicians & trades. The top ancestries reported are English, Australian, Irish.
The median house price in Melrose Park is $1.1 million, having surged 17.6% over the past year. The current median weekly rent is $555. This gives a gross rental yield of approximately 2.6%. The median monthly mortgage repayment is $1,900.
Melrose Park is served by 1 school, including 1 primary. The average ICSEA score is 1098, which is above the national average of 1,000. Public transport access includes 15 bus stops. The crime rate in the Mitcham LGA is moderate at 6,511 incidents per 100,000 population.
From an investment perspective, Melrose Park offers a gross rental yield of 2.6%, rated as low yield. Property prices are near the state median ($1.1M/$950K). The price-to-income ratio of 13.7x is considered stretched. House prices have moved +17.6% year-on-year.