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Melrose Park Suburb Insights
VICLocation Information
Suburb Name
Melrose Park, VIC
Distance from CBD
16.7 kmDemographics
Population
1,574
Median Income
$41,028
Area Information
Area
1.08 km²
Population Density
1457 people/km²
Property Market
Median Price
$1,149,064
Annual Growth
+13.6%Property Price Trend Analysis
Current Median Price
$1,149,064
Annual Growth
+13.6%
Quarterly Growth
+2.1%
Price Trends - Last 6 Months
2024-01
$993,166
+9.4%2024-02
$873,619
+6.3%2024-03
$1,030,686
+9.2%2024-04
$467,493
+10.2%2024-05
$777,544
+18.1%2024-06
$1,096,846
+20.2%Property Type Price Analysis
House
Median Price
$1,129,240
Growth Rate
+6.1%Available Listings
389 properties
Apartment
Median Price
$405,972
Growth Rate
+16.1%Available Listings
663 properties
Townhouse
Median Price
$724,770
Growth Rate
+14.6%Available Listings
308 properties
Investment Potential Assessment
Investment Advantages
- Annual growth exceeds 8% - excellent performance
- Strong quarterly growth momentum
- Diverse property types available
Considerations
- Rising prices may affect affordability
- Monitor interest rate changes
- Consider long-term investment strategy