Melbourne is a major suburb in Victoria within the Melbourne local government area (postcode 3000). With a population of 54,941, the suburb has a young professional demographic with a median age of 29. Households earn a median income of $75K per year, with an average household size of 1.7 people. The most common occupations are professionals, community & personal service, managers. The top ancestries reported are Chinese, English, Australian.
Units have a median price of $575,000 (+5.5% YoY). The current median weekly rent is $570. This gives a gross rental yield of approximately 5.2%. The median monthly mortgage repayment is $1,800.
Melbourne is served by 6 schools, including 2 secondary, 2 combined, 2 special. The average ICSEA score is 1077, which is above the national average of 1,000. Public transport access includes 29 rail stations, 158 bus stops. Healthcare facilities include 4 public and 4 private hospitals. The crime rate in the Melbourne LGA is higher than average at 23,998 incidents per 100,000 population.
From an investment perspective, Melbourne offers a gross rental yield of 5.2%, rated as high yield. Property prices sit below the state median ($575K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 7.6x is considered moderate. House prices have moved +5.5% year-on-year.
Melbourne is a major suburb in Victoria within the Melbourne local government area (postcode 3000). With a population of 54,941, the suburb has a young professional demographic with a median age of 29. Households earn a median income of $75K per year, with an average household size of 1.7 people. The most common occupations are professionals, community & personal service, managers. The top ancestries reported are Chinese, English, Australian.
Units have a median price of $575,000 (+5.5% YoY). The current median weekly rent is $570. This gives a gross rental yield of approximately 5.2%. The median monthly mortgage repayment is $1,800.
Melbourne is served by 6 schools, including 2 secondary, 2 combined, 2 special. The average ICSEA score is 1077, which is above the national average of 1,000. Public transport access includes 29 rail stations, 158 bus stops. Healthcare facilities include 4 public and 4 private hospitals. The crime rate in the Melbourne LGA is higher than average at 23,998 incidents per 100,000 population.
From an investment perspective, Melbourne offers a gross rental yield of 5.2%, rated as high yield. Property prices sit below the state median ($575K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 7.6x is considered moderate. House prices have moved +5.5% year-on-year.