Melbourne
3000 VIC
With a diverse population, Melbourne has a mix of age groups dominated by young adults. The suburb offers various commuting options, with a significant number of residents working from home. The area has a high education advantage for students attending government schools.
For houses, Melbourne presents an opportunity for renovators due to a high sale price IQR ratio and a notable discount median, indicating potential for value-add opportunities. On the other hand, units offer a steady rental yield with a lower sale price IQR ratio, making them attractive for investors seeking stable returns.
Melbourne, VIC 3000, boasts a dynamic demographic profile and a range of commuting options, with a high educational advantage for students. For investors, the suburb provides different opportunities based on property type, with potential for renovation projects in houses and stable rental returns in units.
Sources:
- proptechdata.com.au
- Australian Bureau of Statistics (ABS) Census 2021
- Australian Curriculum, Assessment and Reporting Authority (ACARA) School Profiles 2022
Suburb Highlights
Pricing and long-term growth profile for Melbourne houses.
Median Price
$1.073M
# Sales
8
12M Growth
-14.9%
10Y Ave Growth
12.3%
Why Buyers Look Here
Proven growth — 12.3% average annual growth over 10 years.
Fast selling market — Properties sell in a median of 1 days — high buyer competition.
Affluent area — IRSAD rank 92/10 — high socio-economic advantage.
Capital Growth
Pricing and long-term growth profile for Melbourne houses.
Median Price
$1.073M
# Sales
8
12M Growth
-14.9%
10Y Ave Growth
12.3%
Rental Market
Yield, rental pricing and vacancy performance for Melbourne houses.
Weekly Rent
$690
Rental Yield
4.3%
Vacancy Rate
—
Rentals Last 12M
99
Supply & Demand
Stock levels, days on market and selling conditions for Melbourne.
Stock on Market
—
Days on Market
1
Building Approvals
11.5%
Infrastructure Spend
—
Demographics
Household profile, income strength and owner occupier mix in Melbourne.
Population
54,941
Owner Occupiers
26%
Median Income
$75k
IRSAD Rank
92
