Rockbank is a smaller residential area in Victoria within the Melton local government area (postcode 3335). It is home to about 2,583 residents, with a predominantly early-career demographic and a median age of 31. Households earn a median income of $93K per year, with an average household size of 2.6 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +5.8% year-on-year at the LGA level. VIC employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are machinery operators & drivers, professionals, clerical & administrative. Employment in the area leans toward transport & logistics and healthcare. The top ancestries reported are Indian, Australian, English.
The median house price in Rockbank is $545,000, having dropped significantly by 14.2% over the past year. Units have a median price of $536,000 (+3.9% YoY). The current median weekly rent is $480. This gives a gross rental yield of approximately 4.6%. The median monthly mortgage repayment is $1,800.
Rockbank is served by 1 school, including 1 primary. The average ICSEA score is 1027, which is around the national average of 1,000. Public transport access includes 8 bus stops. The crime rate in the Melton LGA is moderate at 7,219 incidents per 100,000 population.
From an investment perspective, Gross rental yield sits at around 4.6% (moderate yield). Property prices sit below the state median ($545K/$875K), which can point to relative value. The price-to-income ratio of 5.9x is considered affordable. House prices have moved -14.2% year-on-year. Population growth of +5.8% year-on-year points to strong growth demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.