Melton South is a well-established suburb in Victoria within the Melton local government area (postcode 3338). With a population of 11,362, the suburb has a mix of young professionals and families with a median age of 35. Households earn a median income of $63K per year, with an average household size of 2.6 people. The most common occupations are machinery operators & drivers, technicians & trades, community & personal service. The top ancestries reported are Australian, English, Irish.
The median house price in Melton South is $514,000, having increased 3.8% over the past year. Units have a median price of $370,000 (+1.4% YoY). The current median weekly rent is $470. This gives a gross rental yield of approximately 4.8%. The median monthly mortgage repayment is $1,300.
Melton South is served by 5 schools, including 3 primary, 1 secondary, 1 combined. The average ICSEA score is 982, which is around the national average of 1,000. Public transport access includes 13 rail stations, 27 bus stops. The crime rate in the Melton LGA is moderate at 7,219 incidents per 100,000 population.
From an investment perspective, Melton South offers a gross rental yield of 4.8%, rated as moderate yield. Property prices sit below the state median ($514K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 8.2x is considered moderate. House prices have moved +3.8% year-on-year.
Melton South is a well-established suburb in Victoria within the Melton local government area (postcode 3338). With a population of 11,362, the suburb has a mix of young professionals and families with a median age of 35. Households earn a median income of $63K per year, with an average household size of 2.6 people. The most common occupations are machinery operators & drivers, technicians & trades, community & personal service. The top ancestries reported are Australian, English, Irish.
The median house price in Melton South is $514,000, having increased 3.8% over the past year. Units have a median price of $370,000 (+1.4% YoY). The current median weekly rent is $470. This gives a gross rental yield of approximately 4.8%. The median monthly mortgage repayment is $1,300.
Melton South is served by 5 schools, including 3 primary, 1 secondary, 1 combined. The average ICSEA score is 982, which is around the national average of 1,000. Public transport access includes 13 rail stations, 27 bus stops. The crime rate in the Melton LGA is moderate at 7,219 incidents per 100,000 population.
From an investment perspective, Melton South offers a gross rental yield of 4.8%, rated as moderate yield. Property prices sit below the state median ($514K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 8.2x is considered moderate. House prices have moved +3.8% year-on-year.