Melville is a mid-sized suburb in Western Australia within the Melville local government area (postcode 6156). With a population of 6,204, the suburb has an established demographic with a median age of 42. Households earn a median income of $114K per year, with an average household size of 2.6 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Irish.
The median house price in Melville is $1.3 million, having surged 18.2% over the past year. Units have a median price of $610,000 (+11.9% YoY). The current median weekly rent is $780. This gives a gross rental yield of approximately 3.1%. 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 offers a gross rental yield of 3.1%, 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.
Melville is a mid-sized suburb in Western Australia within the Melville local government area (postcode 6156). With a population of 6,204, the suburb has an established demographic with a median age of 42. Households earn a median income of $114K per year, with an average household size of 2.6 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Irish.
The median house price in Melville is $1.3 million, having surged 18.2% over the past year. Units have a median price of $610,000 (+11.9% YoY). The current median weekly rent is $780. This gives a gross rental yield of approximately 3.1%. 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 offers a gross rental yield of 3.1%, 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.