Located in Western Australia within the Melville local government area, Melville is a medium-sized suburb (postcode 6156). It is home to about 6,204 residents, with an established demographic and a median age of 42. Households earn a median income of $114K 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 +1.8% year-on-year at the LGA level. WA employment has moved +1.1% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. WA also had 31 Commonwealth-backed major projects under construction, 7 underway, and 16 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 professionals, managers, clerical & administrative. Employment in the area leans toward healthcare and education. The top ancestries reported are English, Australian, Irish.
Melville has a median house price of $1.3 million, which has jumped by 18.2% year-on-year. Units have a median price of $610,000 (+11.9% YoY). The current median weekly rent is $820. This gives a gross rental yield of approximately 3.3%. The median monthly mortgage repayment is $2,325.
Melville is served by 2 schools, including 1 primary, 1 secondary. The average ICSEA score is 1095, which is above the national average of 1,000. Public transport access includes 25 bus stops.
From an investment perspective, Melville shows a gross rental yield of approximately 3.3%, rated as moderate yield. Property prices are above the state median ($1.3M/$951K), placing it in the premium segment. The price-to-income ratio of 11.5x is considered stretched. House prices have moved +18.2% year-on-year. Population growth of +1.8% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.