Is Melton a Good Suburb? A Comprehensive Analysis for Homebuyers

Is Melton a Good Suburb? A Comprehensive Analysis for Homebuyers

Is Melton a good suburb? Melton, a suburb in the outer western region of Melbourne, has gained attention as a potential residential location for families, professionals, and investors. Many people are curious about whether Melton is a good suburb to live, work, or invest in. A short drive from Melbourne’s central business district, Melton offers a blend of affordability, serene environment, and convenient connectivity.

Boasting a diverse demographic and steadily growing population, the suburb provides various housing options that cater to different needs. With a plethora of amenities such as schools, parks, and recreational facilities, the lifestyle in Melton is suitable for families and individuals alike. In addition, transportation and accessibility are significant highlights, making it an easy daily commute for those working in other parts of Melbourne.

Key Takeaways

  • Melton provides affordable housing options in a serene environment
  • The suburb offers numerous amenities, catering to the needs of families and professionals
  • Easy transportation and connectivity make Melton an attractive residential location

Is Melton a Good Suburb? Check Out the Demographics and Population Growth

The City of Melton, located in Victoria, Australia, has experienced significant population growth in recent years. With an estimated resident population of 193,155 in 2022, it has grown by 11,809 from the previous year1. This rapid expansion can be attributed to an annual population growth rate of 6.42%, making it the fastest-growing area in Australia2.

Two particularly noteworthy regions within the City of Melton include Rockbank – Mount Cottrell and Melton South. Rockbank – Mount Cottrell has the third highest growth rate in Australia at 28% and the highest growth rate in Victoria2. Melton South’s population increased by 1,772 people (or 10.7 per cent)2.

The population of City of Melton is diverse and caters to various types of residents. In terms of family composition, the community accommodates:

  • Families with kids: A large percentage of the population comprises families with children. The availability of facilities such as schools, parks, and recreational centres supports the choice of the area for families.
  • Singles: The suburb provides a variety of housing options, both in terms of size and affordability, attracting single individuals.
  • Retirees: With a range of healthcare services and peaceful neighbourhoods, City of Melton has become an attractive place for retirees.

It is projected that between 2021 and 2051, the population for the City of Melton will increase by 258,920 persons (142.87% growth), at an average annual change of 3.00%3. This forecast highlights the continuous growth and development within the community.

Housing Market and Investment Potential

Housing Market and Investment Potential

Real Estate Overview

Melton, located in Victoria, is a suburb with a diverse housing market that offers opportunities for both homebuyers and investors. With a mix of houses and units, it is known for its affordability and potential for steady capital growth.

Investment Opportunities

When considering investment properties in Melton, it is important to look at both houses and units, as they offer different prospects for investors. Houses in Melton have a median property price of $470,000 with an annual capital growth of -4.08%. On the other hand, units have a median property price of $372,000. Despite the lower capital growth for houses, they tend to spend an average of 32 days on the market, which indicates a relatively stable demand.

Rental yields play a significant role in determining the viability of an investment property. In Melton, rental yields for houses stand at 4.0%, with an average weekly rent of $360. Units offer slightly higher rental yields at 4.6%, with an average weekly rent of $337. These figures suggest that investors can expect a steady income stream from their properties in this suburb.

Median House and Unit Prices

To provide a clear comparison of the median house and unit prices in Melton, the following table is presented:

Property Type

Median Price

Annual Capital Growth

Average Weekly Rent

Rental Yield

House

$470,000

-4.08%

$360

4.0%

Unit

$372,000

N/A

$337

4.6%

In conclusion, the housing market in Melton offers a unique blend of affordability and investment potential. While houses experience lower capital growth, they have a steady market demand. Units, on the other hand, provide higher rental yields, making them an attractive option for investors seeking a constant rental income. With a clear understanding of the market dynamics, potential buyers and investors can make informed decisions when considering Melton as their suburb of choice.

Lifestyle and Community Amenities

Education and Schools

Melton offers a variety of educational facilities catering to different age groups and needs. The suburb features a range of primary schools and high schools that provide quality education. Additionally, childcare facilities are available to accommodate the needs of young families.

Shopping and Dining

Melton is equipped with numerous shopping centres, providing residents with access to major retailers and essential services. Local shopping districts cater to daily purchases as well as a wide variety of specialty stores. Dining options are plentiful, with various restaurants and cafes available for residents to enjoy. Melton’s diverse culinary scene offers an array of cuisines, making it an attractive option for food enthusiasts.

Parks and Recreation

The suburb of Melton is known for its beautiful parks that offer excellent recreation facilities for the community. With vast open spaces, these parks provide residents with opportunities for outdoor activities such as picnics, exercise, and sports. The well-maintained parks and recreation areas contribute to the overall appeal of the suburb.

Families can appreciate the quality infrastructure that makes daily living more comfortable and enjoyable. Affordable houses are available on large blocks, making Melton a desirable place for those who seek spaces to accommodate their lifestyle. The strong sense of community and the diverse range of amenities in this suburb make Melton an ideal choice for people from all walks of life.

Transportation and Accessibility

Public Transport

Melton offers a range of public transport options for its residents, making it convenient for those who need to travel to other parts of Melbourne. The suburb is home to the Cobblebank Train Station, which provides residents with easy access to the metropolitan train network. The train journey from Melton to Melbourne’s Central Business District (CBD) typically takes around 45 minutes, making it a viable option for daily commuting. Apart from trains, there are also bus services available within the suburb, further improving accessibility and connectivity.

Major Roads and Highways

Melton is strategically located near major roads and highways, improving its overall accessibility. The Western Highway runs close to Melton, providing a direct route to Melbourne’s CBD for those who prefer to drive. On a good day, the drive to the CBD usually takes around 45 minutes.

In addition, Melton’s road network has been developed with multiple corridors linking the suburb to various parts of the greater Melbourne area. These connections help shorten travel times and reduce congestion on local roads. Some key arterial roads in the area include:

  • Coburns Road: Connecting Melton to the Western Freeway, this road helps streamline traffic flow and eases access to other parts of the city.
  • High Street: A vital route running through the heart of Melton, offering access to a range of essential services such as banking, retail outlets, and health services.

Local Development and Future Projects

Melton, located 35km west of Melbourne’s CBD, is an urban area experiencing rapid growth and development. With a diverse and young community, Melton’s population is on the rise. It is estimated that by 2051, the suburb will be home to over 485,000 people.

One of the driving forces behind Melton’s growth is the Suburban Revitalisation programme that seeks to revitalise and improve the suburban areas around Melbourne. This programme has been instrumental in stimulating development in various Melton areas such as Weir Views, Melton West, and Harkness.

Among the most significant projects in Melton’s future development is the Melton Town Centre Revitalisation project. This project, valued at $3.277 million and scheduled to conclude in mid-2024, involves the redesign of civic spaces, a program of events, and a campaign to engage with local businesses.

Other noteworthy investments in the area’s infrastructure include a $650 million upgrade to the Melton train line, which will allow for a 50% increase in train capacity. In addition, $26.4 million has been allocated for upgrading local roads, ensuring better connectivity and accessibility in the years to come.

It is also worth mentioning some of the local developments that have been undertaken in the neighbouring suburbs like Vic 3337, Weir Views, Melton West, and Harkness. These projects vary in scope and impact, but together they demonstrate the commitment to growth and development shared by local authorities, investors, and community members.

For example, some of the developments in these suburbs include:

  • New housing estates: Emerging residential areas provide Melton residents with a variety of housing options and designed communities.
  • Improved public spaces: Parks, playgrounds, and other recreational facilities have undergone significant upgrades to meet the needs of the growing population.
  • Commercial investments: New retail centres, businesses, and services are being launched in response to the area’s expanding population and economic opportunities.

In conclusion, the ongoing infrastructure improvements, investment in local projects, and the revitalisation of the town centre are just a few of the initiatives contributing to Melton’s dynamic growth. With its well-planned developments and commitment to a brighter future, Melton proves to be a suburb with great potential.

Frequently Asked Questions

What are the notable features of Melton as a suburb?

Melton is located a short drive from Melbourne’s CBD and is known for its tranquil environment, good connectivity, and family-friendly amenities. The suburb offers quality schools, parks, and recreational facilities, making it a popular choice for families. Additionally, Melton boasts generally affordable housing options compared to other Melbourne suburbs.

How does the safety of Melton compare to other suburbs?

While safety can vary from one neighbourhood to another, Melton has both safer and more challenging areas. Some residents have reported feeling safe and secure in their neighbourhoods, whereas others have shared concerns about certain localities. It is essential to research and visit specific areas of the suburb to get a better understanding of the safety levels.

What are the investment prospects in Melton currently?

Melton’s affordability and growth rate make it an attractive option for property investors searching for more wallet-friendly options in the Melbourne area. Property values in the suburb have experienced growth in recent years, and with its expanding amenities and infrastructure, Melton continues to attract investors and homebuyers alike.

How does Melton's growth rate stand against other Melbourne suburbs?

Melton has been experiencing a steady growth rate compared to surrounding suburbs, both in terms of population and property values. Notably, this growth rate has been driven by the suburb’s affordability, attractive amenities, and favourable location. As the area continues to expand and evolve, it is expected that Melton will maintain its growth momentum.

What is the distance between Melton and Melbourne CBD?

The distance between Melton and the Melbourne CBD is approximately 35 kilometres. Thanks to its good connectivity, getting to the city centre from Melton is relatively straightforward, with several options for public transport, including trains and buses, as well as easy access to main roads.

How does Melton's liveability compare with that of Sunbury?

Both Melton and Sunbury have their unique strengths, making each suburb appealing to different people. Melton is known for its serene environment, convenient amenities, and relatively affordable housing options. On the other hand, Sunbury also offers a relaxed lifestyle, good schools, and growing amenities. Ultimately, the decision to choose one suburb over the other depends on individual preferences, lifestyle, and budget.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top