Thinking about buying in Melville? Now could not be a better time, with 2326 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $1,335,000 with prices in this suburb ranging from $449,000 to $4,879,000. Melville is located fairly close to the coast at just 6Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.

Melville Real Estate Market Outlook

Consistent high demand relative to supply is a key feature in Melville driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. High average incomes in Melville ensure a focus on quality with a commensurate high entry price under constant demand. Competition for available quality housing is intense with multiple offers likely to be made in excess of asking prices. Low average earnings from people in Melville leads to lower quality housing which also negatively impacts the provision of facilities. As a consequence this area is often seen as less desirable, with lower quality of housing and slower price growth. Medium density in Melville necessitates a mix of lifestyle options for housing, shops, open areas, and facilties. Where this is available, demand is high and growth ensured. High industry presence in the wider area is a double-edged sword. While local employment options are high, the presence of industrial buildings may negatively impact lifestyle perception. Demand from first home buyers and investors however ensures good price growth.

Houses for sale Melville

	6 FREEDMAN WAY, WINTHROP, WA, 6150	4	2	2	1100000
	10 SOBOTKA PL, WINTHROP, WA, 6150	4	2	2	$2,400,000
	14 KEALL PASS, WINTHROP, WA, 6150	4	2	2	From $1,499,000

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General Points of Interest

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