Get a property report and suburb profile for any property in Melton South

Melton South, adjoining the Melton township, is an established residential suburb where older weatherboard cottages and modest post-war homes sit alongside newer brick houses and small estate pockets, while nearby paddocks and parkland retain a semi-rural edge. Local shopping centres, schools, sporting clubs and community facilities meet everyday needs, and Melton railway station on the Ballarat line plus major roads provide rail and road links. The community is weighted towards families, with couple families with children the largest group.

About two in three homes are owner-occupied, so tenure leans towards owners rather than renters. The suburb is in the path of major transport works, with the rail corridor and Melton station being rebuilt and level crossings removed, and the City of Melton delivering local road upgrades. A major new Melton Hospital is under construction nearby, contributing to a growing health precinct. Whether Melton South suits you will come down to whether you want an established, down-to-earth suburb with nearby schools, shops and visible transport and health investment.

Buying in Melton South 3338 sits well above what local households earned at the last Census: the median house price of $568,750 is about 9.0 times a typical local annual household income at the last Census. Renting looks less extreme but still significant — the average house rent of $430 a week would take about 35.6% of a typical local household's weekly income at the last Census, and the average unit rent of $370 a week would take about 30.6% of that income, so both rents would use roughly a third of a typical local household's weekly earnings at the last Census. On these figures, buying is the more stretched option against local incomes, but how it feels will depend on your own circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

House values in Melton South climbed a solid 9.4% over the past 12 months, while unit values rose a solid 5.3%. That puts the house side ahead on capital growth this year, with houses increasing faster than units.

On the income side, unit rents rose a modest 2.8% over the year, and for units the price rise (5.3%) outpaced rent growth (2.8%). If rental income is your priority, the unit rent figure is the one to watch; whether this mix of capital growth and rent movement suits you depends on your own goals and circumstances.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.