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West Melbourne suburb profile

West Melbourne is a vibrant suburb located just on the fringe of Melbourne's bustling CBD, offering a unique blend of industrial heritage and modern urban living. Known for its eclectic mix of warehouses, historic buildings, and contemporary apartments, it attracts a diverse community of professionals, creatives, and families. The suburb boasts excellent connectivity with public transport options, including train and tram services, making it a convenient base for city commuters. With its proximity to the Docklands, Queen Victoria Market, and a variety of dining and entertainment options, West Melbourne is a dynamic and sought-after location for those seeking a lively urban lifestyle.

West Melbourne property market performance

Current median dwelling price$987,250Past 3 months

Property growth+8.3%Past 12 months

West Melbourne's property market has shown varied performance over the past 12 months. While there is no current median house price available, house values have surged by 22.2%. In contrast, unit values have seen a modest increase of 2.2%, with the median unit price averaging $553,000. This indicates a stronger demand for houses despite limited sales activity.

Sales activity has been more robust in the unit market, with 85 units sold compared to just 8 houses over the past 12 months. Units are selling faster, with a median of 43 days on the market, compared to 53 days for houses, suggesting a quicker turnover in the unit sector.

The rental market in West Melbourne has experienced moderate growth, with house rents increasing by 6.7% and unit rents by 5.0% over the last 12 months. The average rent for houses is $800, while units average $630, reflecting steady demand in the rental sector.

HousesUnits
Median price
Past 3 months
N/A$565K
Change in value
Past 12 months
9.8%6.8%
Sold
Past 3 months
988
Median days on market
Past 12 months
5044
Average rent
Past 12 months
$800$630
Change in rent
Past 12 months
5.3%3.3%

5 year median price trend for houses and units

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West Melbourne demographics

West Melbourne, a vibrant suburb located just on the fringe of Melbourne's bustling CBD, offers a unique blend of urban living and community charm. With a population of 8,025 and a median age of 31, it is a youthful and dynamic area that attracts young professionals and students who are drawn to its proximity to the city center and its lively atmosphere. The median total household income of $1,788 per week reflects a relatively comfortable standard of living, appealing to those seeking both convenience and lifestyle.

Housing in West Melbourne is predominantly rental-based, with 66.8% of properties being rented. This high rental rate underscores the suburb's appeal to those seeking flexible living arrangements, including students and young professionals who value the ease of access to Melbourne's amenities and employment opportunities. The suburb's family composition is diverse, with 23.4% of families being couples with children, while a significant 64.3% are couples without children, indicating a strong presence of young couples and professionals.

The property ownership landscape in West Melbourne shows that 12.1% of homes are owned outright, while 21.1% are owned with a mortgage. This mix of ownership and rental options provides a variety of housing choices for residents, from long-term stability to short-term flexibility. The suburb's vibrant community, combined with its strategic location and diverse housing options, makes West Melbourne an attractive choice for those looking to enjoy the best of urban living in one of Australia's most dynamic cities.

Suburbs near West Melbourne

Some popular suburbs near West Melbourne include:

  • Kensington: Known for its charming village atmosphere and historic homes, Kensington is located directly northwest of West Melbourne.
  • North Melbourne: Featuring a mix of Victorian architecture and modern developments, North Melbourne is situated to the north of West Melbourne.
  • Docklands: Known for its waterfront living and contemporary apartments, Docklands lies to the south of West Melbourne.
  • Flemington: Famous for its racecourse and multicultural community, Flemington is located to the northwest of West Melbourne.
  • Footscray: Known for its vibrant food scene and diverse culture, Footscray is situated to the west of West Melbourne.

How does West Melbourne compare to nearby suburbs?

  • Median house prices: West Melbourne’s median house price is 24.9% higher than Kensington’s.
  • Median unit prices: West Melbourne’s median unit price is 17.2% higher than Kensington’s.
  • House price growth: Over the past 12 months, house prices in West Melbourne have grown 0.2% higher than in Kensington.
  • Unit price growth: Over the past 12 months, unit prices in West Melbourne have grown 12.2% higher than in Kensington.
  • Selling speed for houses: Properties in nearby Kensington are selling 20.0% faster than in West Melbourne.
  • Selling speed for units: Properties in nearby Kensington are selling 27.3% faster than in West Melbourne.
  • Investment considerations: In West Melbourne, the rental yield for house is 27.0% higher than the Melbourne average, while the rental yield for units is 7.5% higher.
  • House price growth: Over the past 12 months, house prices in West Melbourne have grown 28.4% higher than the average rate of growth across Melbourne.
  • Unit price growth:Over the past 12 months, unit prices in West Melbourne have grown 6.5% lower than the average rate of growth for units across Melbourne.

Choose the right real estate agents in West Melbourne

In West Melbourne ,156 agents are actively selling property, but a small number do the heavy lifting. Just 5 agents handled 22.7% of all sales in the past year, giving them a strong presence and deep experience in the local market.

Commission rates usually sit between 1.8% and 2.47%. Comparing agents and understanding what’s included in their fee structure can help you find the right mix of service, value, and motivation—without compromising on outcomes.

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