Brimbank Melton Housing Price Growth

November 10, 2017
Robert Causovski

Property Prices in Australia, and in particular Sydney and Melbourne have experienced significant growth over the past decades and recent few years. Melbourne’s median house price has risen to $880,902, a jump of more than $100,000 over the past year.

Melbourne Median House Prices by Region

Regions

Median

Quarterly growth

Yearly growth

Inner East

$1,600,000

0.9%

10.1%

Inner South

$1,350,000

1.1%

12.5%

Inner Urban

$1,512,500

-2.4%

10.8%

North

$620,000

3.1%

18.4%

North East

$727,000

1.0%

16.1%

Outer East

$888,000

3.0%

18.4%

South East

$600,100

2.6%

17.7%

West

$600,000

3.4%

15.4%

Source: Domian Group

Focusing on the Western Suburbs, the Median price of housing has risen to $600,000. This is the lowest median price of all 8 Melbourne regions. The West acheived the highest Quarterly Growth of 3.4% and the 5th highest Yearly Growth of 15.4%. 

 

Brimbank – Melton Summary

The top 10 ranking suburbs found in the Brimbank & Melton LGA’s all achieved an annual median growth of over 20%. Albion ($651,250) and Keilor Downs ($615,000) were the only 2 suburbs with a median price above $600,000.

Melton (4.71%) provided the highest rental yield from the top 10, with only Albion (2.87%) returning less than 3% rental yield.

The Suburb of Ardeer, located in Brimbank achieved the highest annual median growth of 29.31% and ranked 19th in Victoria. Ardeer also achieved the highest growth over a five year period with a return of 63.04%.

Ardeer (63.04%) Albion (62.00%) and St.Albans (60%) provided the highest growth over a five year period, all achieving a result greater than 60%.

Annual Median Growth (Brimbank & Melton LGA)

Suburb

Suburb Ranking (VIC)

Price (Median)

Annual Median Growth

Growth

(5 yrs)

Gross Rental Yield

Ardeer

19th

$562,500

29.31%

63.04%

3.05%

Kealba

38th

$541,500

25.93%

46.35%

3.36%

Melton

39th

$320,000

25.49%

30.61%

4.71%

Albanvale

48th

$466,000

24.26%

47.00%

3.68%

Burnside

49th

$550,000

24.01%

42.86%

3.68%

St.Albans

54th

$560,000

23.34%

60.00%

3.06%

Kings Park

57th

$462,500

23.00%

45.90%

3.71%

Albion

58th

$651,250

22.87%

62.00%

2.87%

Delahey

81th

$490,500

21.11%

36.25%

3.71%

Keilor Downs

91th

$615,000

20.58%

53.75%

3.21%

Source: Smart Property Investment - this data is updated every month. Date of last update 09-10-2017

Ardeer:

A 29.31% increase in median property prices in ARDEER, 3022 has allowed this suburb to join the ranks of best performing suburbs in VIC, settling at number 19th. A steady increase in median property prices over a five-year period in the suburb translates to a 63.04% capital gain.

Kealba:

Homeowners and real estate investors betting on KEALBA, 3021 can rest assured about this VIC suburb's performance. The suburb saw median home prices rise by 25.93%. A steady increase in median property prices over a five-year period in the suburb translates to a 46.35% capital gain.

Melton:

A 25.49% increase in median property prices in MELTON, 3337 has allowed this suburb to join the ranks of best performing suburbs in VIC, settling at number 39th. A steady increase in median property prices over a five-year period in the suburb translates to a 30.61% capital gain.

Albanvale:

ALBANVALE, 3021 has a capital gain of 24.27% for the past year, which is higher than average compared to its 47% growth within a five-year period.

Burnside:

Property investments in BURNSIDE fare well against the rest of the country last year, registering a median home price increase of 24.01%. Based on its average 5-year BURNSIDE, 3023 saw average growth in the long term with a growth of 42.86% within a 5 year period.

St.Albans:

The suburb’s capital gain of 23.35% for the past year is higher than average compared to its 60% growth within a five-year period.

Kings Park:

Property investments in KINGS PARK fare well against the rest of the country last year, registering a median home price increase of 23.01% and a growth of 45.90% over a five-year period.

Albion:

A 22.88% increase in median property prices in ALBION, 3020 has allowed this suburb to join the ranks of best performing suburbs in VIC, settling at number 58th. A steady increase in median property prices over a five-year period in the suburb translates to a 62% capital gain.

Delahey:

Average median house prices in VIC have risen as a whole, pulling DELAHEY, 3037 values up and netting property investors a capital gain of 21.11% for the past year and 36.25% over a five-year period.

Keilor Downs:

KEILOR DOWNS, 3038 has a capital gain of 20.59% for the past year, which is higher than average compared to its 53.75% growth within a five-year period.

 

 

Posted in: Property market

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