Melton West is a mid-sized suburb in Victoria within the Melton local government area (postcode 3337). With a population of 8,784, the suburb has a mix of young professionals and families with a median age of 36. Households earn a median income of $75K per year, with an average household size of 2.8 people. The most common occupations are technicians & trades, community & personal service, clerical & administrative. The top ancestries reported are English, Australian, Scottish.
The median house price in Melton West is $525,000, having declined 4.5% over the past year. Units have a median price of $413,000 (+4.2% YoY). The current median weekly rent is $470. This gives a gross rental yield of approximately 4.7%. The median monthly mortgage repayment is $1,500.
Melton West is served by 5 schools, including 3 primary, 1 secondary, 1 combined. The average ICSEA score is 980, which is around the national average of 1,000. Public transport access includes 54 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Melton LGA is moderate at 7,219 incidents per 100,000 population.
From an investment perspective, Melton West offers a gross rental yield of 4.7%, rated as moderate yield. Property prices sit below the state median ($525K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 7.0x is considered moderate. House prices have moved -4.5% year-on-year.
Melton West is a mid-sized suburb in Victoria within the Melton local government area (postcode 3337). With a population of 8,784, the suburb has a mix of young professionals and families with a median age of 36. Households earn a median income of $75K per year, with an average household size of 2.8 people. The most common occupations are technicians & trades, community & personal service, clerical & administrative. The top ancestries reported are English, Australian, Scottish.
The median house price in Melton West is $525,000, having declined 4.5% over the past year. Units have a median price of $413,000 (+4.2% YoY). The current median weekly rent is $470. This gives a gross rental yield of approximately 4.7%. The median monthly mortgage repayment is $1,500.
Melton West is served by 5 schools, including 3 primary, 1 secondary, 1 combined. The average ICSEA score is 980, which is around the national average of 1,000. Public transport access includes 54 bus stops. Healthcare facilities include 1 public hospital. The crime rate in the Melton LGA is moderate at 7,219 incidents per 100,000 population.
From an investment perspective, Melton West offers a gross rental yield of 4.7%, rated as moderate yield. Property prices sit below the state median ($525K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 7.0x is considered moderate. House prices have moved -4.5% year-on-year.