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west melbourne
3003, Victoria
Real Estate & Property Information
Median
Price Rank 101
Price Rank 101
west melbourne Suburb Profile & Review
Located just 3km north-west of the CBD, West Melbourne is surprisingly large despite the fact that it is an inner city suburb. This is due to its largely industrial nature, and the fact that a sizable portion of the suburb is occupied by the Port of Melbourne. West Melbourne is comprised of terrace houses, converted warehouses and newly-built apartment blocks. The famous Queen Victoria Market is located just across Peel Street at Victoria Street.
Flagstaff Gardens provide some fantastic greenery, while Festival Hall is a much loved music and sporting venue which has hosted many historic events since its opening in 1915. Harbour Town and Spencer Street DFO are nearby to satisfy any retail requirements. Errol Street is just over Victoria Street, and offers many restaurants, cafes and bars to enjoy.
North Melbourne'station is a busy railway station on the Craigieburn, Sydenham, Upfield, Werribee and Williamstown lines, and it is also a stop on most V/Line services. A number of tram routes serve the periphery of the suburb: La Trobe Street offers numerous trams into the city and beyond, route 55 travels along Peel Street, and route 57 travels along Victoria Street.
Invest/Buy/Sell Checklist
Research
- 7 Tips On How To Buy/Sell
- Property/Suburb Report
- Buyer/Vendor Advocacy
- Finance Strategy & Lending
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7 Tips On How To Buy/Sell Enquiry
Would you like to receive the top 7 tips on how to buy or sell a property? Find out how to negotiate the best price, the pitfalls of what to look out for when negotiating your next investment property and how to choose the best agent.
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Property/Suburb Report Enquiry
Our free basic suburb report will provide you with a basic snapshot of your suburb’s performance, the types of properties selling in the area and what they are selling for, while our custom report is a very specific property report customised for your property, its specific price range and qualities.
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Buyer/Vendor Advocacy Enquiry
Receive Independent Advice about Buying or Selling Our qualified buyer and vendor advocates can help you build your property portfolio with quality capital growth properties or conversely help you sell your property. Their thorough processes are designed to suit your specific needs, and their independent advice can take the stress out of the buying and selling process.
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Finance Strategy & Lending Enquiry
Hone Your Financial Knowledge by Speaking to a Finance Broker
Obtain personalised service you can’t find at a bank. Educate yourself about the financial issues involved with buying and selling a property by speaking to a qualified finance broker. They will advise you regarding the best finance options available to you. They can also discuss methods to create wealth and improve your cash-flow.
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Due Diligence
- Ownership Structure
- Property Valuation
- Rental Appraisal
- Sale Contract Review
- Building & Pest Inspection
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Ownership Structure Enquiry
Are you financially structured the right way to invest in property?
Talk to a professional who is able to sit down with you and assess your goals and structure your finances in a way that will help you invest in property for the long-term.
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Property Valuation Enquiry
Have you bought your first investment property and don’t know where to start when it comes to management or just looking for a change? Find a property manager that specialises in customer service, communication, minimal rental arrears, routine inspections and quality tenants.
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Enter your details below for a one on one phone consultation with one a property professional and request an appraisal now.
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Rental Appraisal Enquiry
Have you bought your first investment property and don’t know where to start when it comes to management - or are you just looking for a change? Find a property manager that specialises in customer service, communication, minimal rental arrears, routine inspections and quality tenants.
Want to Speak to an Expert?
Enter your details below for a one on one phone consultation with a property professional and request an appraisal now.
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Sale Contract Review Enquiry
Check your Contracts Before Making an Offer
If you are serious about purchasing or selling a property with the least hassle then you should engage the services of a reputable conveyancer or lawyer who specialises in property. Have your contracts looked over before buying your next dwelling, for any possible concerns like easements, titles and any caveats, body corporate rules, zoning and planning potential issues.
What is Conveyancing?
Conveyancing is the term used to describe the way that a title, rights or interest in land is legally transferred from one person to another.
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Building & Pest Inspection Enquiry
Understand the Condition of Your Property Before You Buy
Avoid any nasty surprises before purchasing your property. Request a building and pest inspection report. This report will tell you everything you need to know about the condition of the property, including interior and exterior defects, termite activity and the presence of environmental dangers such as asbestos.
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Post Purchase
- Landlords Insurance
- Depreciation Schedule
- 1. Capital works allowance (Division 43) Takes into account the construction costs of the building itself, such as concrete and brickwork
- 2. Plant and equipment (Division 40) A deduction available for removable assets identified by the ATO that depreciate at a faster rate than the building eg carpet, dishwasher, blinds, ovens.
- Removalist
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Landlords Insurance Enquiry
Get Peace of Mind with Quality Landlord Insurance Protection?
Buying an investment property for the first time? Concerned about tenants damaging your property, rental loss or losing your job and being unable to pay your mortgage?
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Depreciation Schedule Enquiry
What is a Depreciation Schedule?
A depreciation schedule of your investment prepared by a Quantity Surveyor for the purpose of claiming against your taxable income. There are two main elements taken into account when preparing this report.
Tax Depreciation Calculator
Get an estimate of the likely depreciation deductions using the following Tax Depreciation Calculator
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Removalist Enquiry
Find the Best Removalist for the Job
Take the stress out of relocating by getting in touch with an efficient and qualified removalist team. Professional removalists can help you with packing, loading and unloading during your local or interstate move.
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Enter your details below for a one on one phone consultation with a professional removalist now and request a free quote.
Adding value
- Planning & Permits
- Trades
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Planning & Permits Enquiry
Find Out Whether Your Property Has Development Potential
Would you like to find out whether your property is subdividable and if you can increase the value of your property by obtaining plans and permits? Or you are looking to extend or renovate your new purchase and need plans and permits?
Our property development experts review whether your property is suitable for development. They carry out the due diligence on the development potential of your property, look at the options available to you (fully costed and assessed), discuss a development strategy, prepare plans to submit to a town planner and local council, and work through applications to achieve town planning approval.
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Enter your details below for a one on one phone consultation with a property planning expert now.
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Trades Enquiry
Find a Qualified Local Tradesperson
Finding a qualified and reputable local tradesperson can be a hassle, whether you’re looking for an electrician, carpenter, plumber, builder, handyman, gardener or carpet cleaner. Be connected with the right tradesperson today.
Want to Speak to a Tradesman?
Fill in the form below to be connected with a tradesman now and request a free quote.
west melbourne Demographic Data
$ 720,000 Median House Price
5 Minutes Average Commute
30 Median Age
3,744 Population
43.43 % Female
56.57 % Male
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 west melbourne, Victoria.
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west melbourne 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.
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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west melbourne 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 west melbourne 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 west melbourne property price predictions.
west melbourne Market Property Types
- 3 % Seperate House
- 34 % Semi Detached
- 63 % 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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west melbourne 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.
west melbourne Income & Mortgage Stats
- $ 1,700 Median Weekly Household Income
- $ 2,383 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 west melbourne
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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west melbourne 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.
west melbourne Sold Property Prices
35/30 Chetwynd Street
30 CHETWYND STREET
603/118 Dudley Street
39 -41 Miller Street
307/58 Jeffcott Street
5/45 Milton Street
west melbourne 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.
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- Jason Sharpe
- Woodards
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- Kim Shannon
- Hocking Stuart
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- Bruce Warburton
- Greg Hocking
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- Nollan Novoselac
- MICM Property
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west melbourne Related Local Blog Posts
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west melbourne Restaurants
- Witches in Britches84 Dudley Streetwest melbourne VIC 300303 9329 9850
- White Lotus Vegetarian Restaurant185 Victoria St west melbourne VIC 300303 9326 6040
- Warung Angus305 Victoria Streetwest melbourne VIC 300303 9329 1737
west melbourne Cafes
- Cafe Scaletti487 Elizabeth Stwest melbourne VIC 300303 9328 3336
- Cafe 6Six 5Fifty 5Five655 Spencer Stwest melbourne VIC 300303 9329 0032
- Invita76 Therry Streetwest melbourne VIC 300303 9329 1267
west melbourne Schools
- Simonds College West Melbourne Campus273 Victoria Stwest melbourne VIC 3003(03) 9321 9200Catholic Secondary School
- DOXA School300 Rosslyn Stwest melbourne VIC 3003(03) 9328 8100Catholic Special School
west melbourne Sporting Centres and Clubs
- City of Melbournewest melbourne VIC 3003Bowling Club
- Exhibition Gardenswest melbourne VIC 3003Tennis Club & Courts
- Flagstaff Gardenswest melbourne VIC 3003Tennis Club & Courts
Find out How Much your House is Worth in west melbourne
Request a free market Basic Report for west melbourne 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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