Located in Victoria within the Melton local government area, Weir Views is a smaller residential area (postcode 3338). It is home to about 4,348 residents, with a young professional demographic and a median age of 27. Households earn a median income of $93K per year, with an average household size of 3.3 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, community & personal service, professionals. Employment in the area leans toward healthcare and transport & logistics. The top ancestries reported are Australian, English, Indian.
Median house prices in Weir Views stand at $566,000, having edged higher by 1.1% over the last twelve months. The current median weekly rent is $480. This gives a gross rental yield of approximately 4.4%. The median monthly mortgage repayment is $1,800.
Weir Views is served by 1 school, including 1 primary. The average ICSEA score is 1024, which is around the national average of 1,000. Public transport access includes 6 bus stops. The crime rate in the Melton LGA is moderate at 7,219 incidents per 100,000 population.
From an investment perspective, Weir Views shows a gross rental yield of approximately 4.4%, rated as moderate yield. Property prices sit below the state median ($566K/$875K), which can point to relative value. The price-to-income ratio of 6.1x is considered moderate. House prices have moved +1.1% 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.