This property is Off Market
With an average age of 32, households expect an average monthly mortgage payment of $1,650 or a weekly rent payment of $396. The average family earns a weekly income of $2,821 with a typical household size of 2.1 and a 97.91% employment rate.
In West Melbourne there has been a history of lower than average prices and demand, offering opportunities for investors or first home owners, especially in the context of the growth in working from home. Low average incomes in West Melbourne is reflected in smaller and lower quality accommodation. Over time this may change providsing long-term returns but in the short to medium term, prices are likely to be less than state averages. The slightly lower than average earnings from occupations in West Melbourne changes the housing and lifestyle preference. It is more a matter of what can be afforded rather than what would we prefer, leading to slower price increases over time. Low population density implies low demand and limits housing choices and price increases. Could be a good entry point for first home buyers needing to somehow get into the market. With very low industrial sector presence in West Melbourne the focus is on lifestyle, driving specific demand around facilities, services, and open space. Most people are employed in service sectors with a higher than average proportion being able to work from home. This may incease demand over the medium term.
(Country of Birth not stated 3%)
North Melbourne a good, bad, or just average location in which to invest in property? Should you be buying, or selling, property right now? Our Investability scores provide comparative insights into the investment potential for every suburb across Australia.
Investability - Housing Demand
Victoria State average 44 / 100
Income
66 / 100
52 / 100
Industry
52 / 100
17 / 100
Population
52 / 100
32 / 100
House Prices
85 / 100
70 / 100
Jobs
55 / 100
34 / 100
Incidents Trend State Average
University High School
Parkville, VIC, 3052 State 7-12
St Michael's School
North Melbourne, VIC, 3051 Independent Prep-6
Simonds Catholic College
West Melbourne, VIC, 3003 Independent 7-12
St Aloysius College
North Melbourne, VIC, 3051 Independent 7-12
River Nile School
North Melbourne, VIC, 3051 Independent 11-12
North Melbourne Primary School
North Melbourne, VIC, 3051 State Prep-6
St Joseph's Flexible Learning Centre
North Melbourne, VIC, 3051 Independent 7-12
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134 Acme Avenue Street, Town, State
Description - Details the application. Type and other information pertaining to the development application and more...
Authority Reference: UX0909823-GOV Website
The Residz risks assessments are composed from data attributes which are generally accepted to indicate higher or lower risk presence likelihood for that condition for any address or locality. They do not however determine the exact presence of that risk for any specific property. The Residz Data provided in this publication is of a general nature and should not be construed as specific advice or relied upon in lieu of appropriate professional advice. While Residz uses commercially reasonable efforts to ensure the Residz Data is current, Residz does not warrant the accuracy, currency or completeness of the Residz Data and to the full extent permitted by law excludes liability for any loss or damage howsoever arising (including through negligence) in connection with the Residz Data. Historical prices and trends are not a guarantee of future prices and trends.
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