melton west

3337, Victoria

Real Estate & Property Information

Median
Price Rank
500

melton west Suburb Profile & Review

Like its neighbour, Melton, Melton West is an outlying Melbourne suburb with affordable housing prices.

Public transport services are extensive. Melton Station provides V/Line train services to Southern Cross Station on the Ballarat line. Buses connect Melton to outer suburbs such as Sunshine and Caroline Springs, and a shuttle bus travels to the Melbourne Airport. NightRider services extend to the area, so a late night out in the city is always an option.

Families with school-aged children are certainly not lacking for choice; greater Melton has a whopping eleven primary schools and six high schools, including Kurunjang Secondary College and Melton Secondary College. Woodgrove Shopping Centre, with its seventy-five stores, is the main shopping precinct, and includes a Kmart, Coles, Bunnings, La Porchetta Restaurant and a Readings Cinema. For entertainment, live performances are often held at the Melton Civic Centre and the Tabcorp Park racing complex, which is also the home of Harness Racing Victoria.

melton west Demographic Data

$ 310,000 Median House Price

38 Minutes Average Commute

30 Median Age

14,171 Population

50.74 % Female

49.26 % Male

3832 NO OF FAMILIES

2.0 AVG CHILDREN PER FAMILY

0.9 AVG MOTOR VEHICLE PER DWELLING

What this means

The following data, without any explanation, is just that, raw data. So in order to help you research the property market, we have outlined what this demographic and real estate information means and how it can be interpreted to help you make a smarter decision when buying or selling your next house or unit in melton west, Victoria.

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melton west Demographic Data

The demographic data below has been supplied by the Australian Bureau of Statistics (ABS), which is a government body. It is based on Census data collected every 5 years on the Australian population. Although it is dated 2011, this is the latest data available and should give property investors, property buyers and sellers a very good idea when researching or reviewing their suburb.

It’s important to note when looking at this data that you don’t just use it on its own. Consider this demographic and real estate data as a whole and seek advice from a professional when thinking of buying or selling your next property.

melton west Median House Prices

  • 2008 $ 222,000
  • 2009 $ 249,000
  • 2010 $ 262,646
  • 2011 $ 290,000
  • 2012 $ 310,000

What this means

Median values are the most accepted measure of property values in the real estate industry in Australia. The median is the midpoint (the middle) figure when all the sold property prices over a particular period of time are ordered from their lowest to their highest value.

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melton west 5 Year Median House Prices

Here we have outlined the median value for all sales for each year over a period of 5 years. This is a more realistic timeframe when gauging how houses and units in melton west have performed, and it usually indicates how they will perform in the future.

Median values less than 3 months old are often not always accurate (due to incomplete data) and therefore cannot be relied upon for long-term melton west property price predictions.

melton west Market Property Types

  • 96 % Seperate House
  • 3 % Semi Detached
  • 1 % Flat or Unit
  • 0 % Other Dwelling

What this means

The property type in your suburb will help you identify the density of the area. The greater the number of flats, units and apartments, the more likely it is the suburb has a higher density of living and occupants are more reliant on public transport, cafes, restaurants, convenience stores and amenities, infrastructure and less reliant on their own vehicle for transport.

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melton west Market Property Types

Typically, inner city suburbs within 10km of the CBD are comprised of apartments and semi-detached homes, while middle ring suburbs have semi-detached and detached properties. Rural properties would most likely fall under the “other” category.

This ABS Property Type data combined with Population Density and Family Composition figures gives a good indication of the type of people living in an area and therefore what type of property (1-2 bed apartment or house) would be an ideal investment or property to live in.

melton west Income & Mortgage Stats

  • $ 1,296 Median Weekly Household Income
  • $ 1,625 Median Monthly Mortgage

What this means

This is one of the most compelling statistics in this section because it has a profound impact on real estate prices. It should always be considered when buying or selling property in melton west

Experts believe mortgage stress occurs in real estate when property owners are spending over 30% of their gross income on their mortgage repayments. These figures show weekly income and monthly mortgages.

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melton west Income & Mortgage Stats

To calculate the percentage of income paid towards a mortgage for the suburb of Melbourne, multiply the mortgage payment (e.g. $2450) by 12 then divide this figure by the weekly income (e.g. $1200) multiplied by 52 (weeks) to look like this ($2450 x12/$1200 x 52) x 100 = 47%

Any figure above 30% usually indicates that the suburb you intend to buy in may have property owners with a high incidence of mortgage stress. In terms of maintaining or growing property values in the future and trying to secure a strong property price when selling, this could have an impact, especially in an economic or local industry downturn.

melton west Sold Property Prices

melton west Real Estate Experts

In each suburb we have identified real estate agents who are active local experts. Our goal is to have a network of real estate agents that have been reviewed by previous clients for future buyers and sellers to rely on when making their next property move or even when they just wanting real estate advice.

melton west Related Local Blog Posts

Immigrants Are Pushing House Prices Higher

Much of Australia’s history and success has been built on the back immigration but are the current intake levels too high and how are they impacting prices?

Hangover Stock Brings About Buying Opportunities

This week Melbourne’s auction market has been tested with over 1200 properties reportedly going under the hammer over the weekend. Although both Domain and the REIV show clearance rates at nearly 70%, this on the surface seems good but in actual fact is 10% down for the same time last year. Speaking to a number of agents around town confirms….

Where is The Property Market Heading?

There has been a lot of “white noise” surrounding the Sydney and Melbourne property market over the last few months and it has taken me a while to determine which way things were actually going to go. Is the Australian property market heading down the gurgler or is this just a glitch?

Property Market Trends in Melbourne Which Could Affect Prices

In this final edition we look at what how the Melbourne property market has fared and what whether we are likely to see any changes in property prices, demand for property and economic drivers.

New Research Shows Consumers Who Don’t Own A Home Could Be Worse Off in Retirement

New Research released last week by Roy Morgan shows that people who don’t own a home have become worse off in terms of their net wealth and are jeopardising their retirement.

Is Australian Housing Heading for a Hard Landing or a Financial Cliff?

From my experience and talking with real estate agents the Melbourne market has softened no doubt, but are we heading towards a financial cliff?

melton west Schools

  • Melton West Regional CollegeBulmans Roadmelton west VIC 3337(03) 9743 6522Catholic Secondary School
  • St. Catherines Primary School107 Bulmans Roadmelton west VIC 3337(03) 9743 2166Catholic Primary School
  • Melton West Primary SchoolWestmelton Drivemelton west VIC 3337(03) 9743 5818State Primary School

melton west Childcare

  • ABC Learning Centre12 James Cook Drivemelton west VIC 3337
  • Sunkids CCCCoburns Rdmelton west VIC 3337

melton west Kindergarten and Preschools

  • Arnolds Creek Kinder & CCClaret Ash Bvdmelton west VIC 3337
  • Cambrian PreschoolCambrian Waymelton west VIC 3337
  • Early Learning CC & Kindergarten221 Coburns Roadmelton west VIC 3337

melton west Sporting Centres and Clubs

  • Melton West T. Clubmelton west VIC 3337Tennis Club & Courts
  • West Melton Tennis Clubmelton west VIC 3337Tennis Club & Courts
  • Melton West Skate Parkmelton west VIC 3337Skate Park Facility

Find out How Much your House is Worth in melton west

Request a free market Basic Report for melton west to get a general idea of property prices in your area, or a more specific CMA Report for the property you own.

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