West Melbourne VIC 3003

Houses Units

Here you can find what you need to know about West Melbourne, VIC, including house prices in the area, median values, annual growth, recent sale prices, maps, a suburb profile and much more.

Suburb Insights
for Houses in last 12 months

At a Glance

$1.4m Median Sale Price (National Average $485k) 67th In VIC
45.16% Median Price Change (1 yr) (National Average 4.30%) 6th In VIC
$640pw Median Rent (National Average $395) 76th In VIC
2.4% Median Gross Yield (National Average 4.24%) 551st In VIC
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Investment Strategy Scores

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How we calculate the suburb Cash Flow Score

The suburb Cash Flow Score is simply the average of all the individual Cash Flow Scores for each property in that suburb.

A higher score indicates the suburb is more likely to contain properties that deliver an above average gross yield.

West Melbourne, VIC National
Median
Gross Yield

Investor Scores are computer generated and should not be regarded as personal or general advice about investing in residential property. They should not be relied on as such — persons seeking to buy or sell residential property should always seek appropriate professional advice. The methodology used to develop the Scores depends on the availability of property data and also depends on certain assumptions and estimates.
How we calculate the suburb Capital Growth Score

The suburb Capital Growth Score is simply the average of all the individual Capital Growth Scores for each property in that suburb.

A higher score indicates the suburb has recently experienced significant capital growth and the short term outlook for further growth is likely to be good given strong market health indicators.

West Melbourne, VIC National
Change in Median
Price (1 yr)
Average Days
on Market
Average Vendor
Discounting

Investor Scores are computer generated and should not be regarded as personal or general advice about investing in residential property. They should not be relied on as such — persons seeking to buy or sell residential property should always seek appropriate professional advice. The methodology used to develop the Scores depends on the availability of property data and also depends on certain assumptions and estimates.
How we calculate the suburb Lower Risk Score

The suburb Lower Risk Score is simply the average of all the individual Lower Risk Scores for each property in that suburb.

A higher score indicates the suburb has increased in value over a longer period so is less likely to only be due to recent market forces. It is also likely to contain properties that command higher rent than average and therefore attract higher income tenants. Furthermore, properties in this suburb are likely to be easier to sell in the future due to strong market health indicators.

West Melbourne, VIC National
Average Days
on Market
Change in Median Price
(5 yr)
Average Vendor
Discounting

Investor Scores are computer generated and should not be regarded as personal or general advice about investing in residential property. They should not be relied on as such — persons seeking to buy or sell residential property should always seek appropriate professional advice. The methodology used to develop the Scores depends on the availability of property data and also depends on certain assumptions and estimates.

Property Prices in West Melbourne


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Latest Auction Results for West Melbourne as at 05 July 2020

Property Details
Sale Price
1/61 Stanley St
2Bed / 2Bath / -Car / Unit
-
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State Auction Clearance Rates - July 2020

Auctions Clearance rate
VIC 306 66%
ACT 36 81%
NSW 411 66%
NT 3 33%
QLD 91 34%
SA 24 75%
TAS 1 0%
WA 10 30%

Local Schools


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Suburb Information

West Melbourne, VIC 3003

Part of: Melbourne Council No data available

The size of West Melbourne is approximately 6.4 square kilometres. It has 3 parks covering nearly 1.3% of total area. The population of West Melbourne in 2011 was 3,743 people. By 2016 the population was 5,511 showing a population growth of 47.2% in the area during that time. The predominant age group in West Melbourne is 20-29 years. Households in West Melbourne are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in West Melbourne work in a professional occupation. In 2011, 38.9% of the homes in West Melbourne were owner-occupied compared with 34.5% in 2016. (source: Australian Bureau of Statistics)

View all properties for sale in West Melbourne

Demographic data provided
by Australian Bureau of Statistics

Market Trends for West Melbourne   for Houses in last 12 months

Streets in West Melbourne

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Greenhill NSW, 2440 Unavailable $338,500 $370pw 5.7% View Suburb Profile
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