West Melbourne, VIC 3003
Compare Part of Melbourne
1.21 km
Distance from Melbourne CBD
3 k
Population
Median Sale Price
House
-
Updated on Nov 2024
2 BR - | 3 BR - | 4 BR - |
Unit
-
Updated on Nov 2024
1 BR - | 2 BR - | 3 BR - |
Monthly Median Sale Price Market Trend
Sales Statistics (Houses)
| Year | Median | Growth | Low | High | # Sales |
|---|---|---|---|---|---|
| 2009 | $715,000 | 0.0% | $440,000 | $1,525,000 | 17 |
| 2010 | $816,000 | +12.4% | $460,000 | $1,800,000 | 26 |
| 2011 | $1,120,000 | +27.1% | $445,000 | $1,560,000 | 23 |
| 2012 | $790,500 | -41.7% | $493,000 | $2,210,000 | 19 |
| 2013 | $1,030,000 | +23.3% | $455,300 | $1,915,000 | 29 |
| 2014 | $860,000 | -19.8% | $608,000 | $1,870,000 | 26 |
| 2015 | $1,005,000 | +14.4% | $690,000 | $1,800,000 | 21 |
| 2016 | $1,181,000 | +14.9% | $585,000 | $2,370,000 | 12 |
| 2017 | $1,470,000 | +19.7% | $915,500 | $2,430,000 | 21 |
| 2018 | $1,300,000 | -13.1% | $685,000 | $2,400,000 | 16 |
| 2019 | $1,260,000 | -3.2% | $760,000 | $2,350,000 | 16 |
| 2020 | $1,215,000 | -3.7% | $905,000 | $2,150,000 | 10 |
| 2021 | $1,280,000 | +5.1% | $880,000 | $2,240,000 | 25 |
| 2022 | $1,410,000 | +9.2% | $880,000 | $4,000,000 | 14 |
| 2023 | $1,347,000 | -4.7% | $930,000 | $2,550,000 | 15 |
| 2024 | $1,231,000 | -9.4% | $450,000 | $2,800,000 | 18 |
| 2025 | - | - | - | - | - |
Median Sale Price
$1.23M
Based on 18 recorded sales within the last 12 months
Updated on 3 Jan 2025
Suburb Growth
-9.4%
Current Median Price: $1,231,000
Previous Median Price: $1,347,000
Based on 33 recorded House sales compared over the last two rolling 12 month periods
Peak Selling Periods (36 months ending Dec 2024)
Price Range Segments (12 months ending Dec 2024)
Median Weekly Rent Price
House
-
Updated on Nov 2024
2 BR - | 3 BR - | 4 BR - |
Unit
-
Updated on Nov 2024
1 BR - | 2 BR - | 3 BR - |
Monthly Median Rent Price Market Trend
Rent Statistics (Houses)
| Year | Median | Growth | Low | High | # Rents |
|---|---|---|---|---|---|
| 2011 | $550 | 0.0% | $375 | $1,600 | 35 |
| 2012 | $520 | -5.8% | $360 | $1,100 | 26 |
| 2013 | $520 | 0.0% | $350 | $1,000 | 29 |
| 2014 | $520 | 0.0% | $340 | $1,400 | 42 |
| 2015 | $550 | +5.5% | $350 | $1,200 | 48 |
| 2016 | $580 | +5.2% | $390 | $1,495 | 48 |
| 2017 | $525 | -10.5% | $345 | $1,055 | 60 |
| 2018 | $625 | +16.0% | $380 | $1,750 | 50 |
| 2019 | $650 | +3.8% | $400 | $1,400 | 53 |
| 2020 | $580 | -12.1% | $310 | $2,390 | 86 |
| 2021 | $580 | 0.0% | $310 | $1,350 | 63 |
| 2022 | $615 | +5.7% | $260 | $1,400 | 62 |
| 2023 | $680 | +9.6% | $267 | $1,600 | 67 |
| 2024 | $725 | +6.2% | $440 | $1,175 | 48 |
| 2025 | - | - | - | - | - |
Median Rent Price
$725
per week
Based on 48 recorded rent within the last 12 months
Updated on 3 Jan 2025
Rent Price Growth
+6.2%
Current Median Rent: $725
Previous Median Rent: $680
Based on 115 recorded House rent compared over the last two rolling 12 month periods
Suburb Rent Yield
+3.1%
Current Median Price: $1,231,000
Current Median rent: $725
Based on 66 recorded House sales and rents compared over the last two rolling 12 month periods
Peak Renting Periods (36 months ending Dec 2024)
Auction Results For West Melbourne
Houses sold in Last 12 months ends 28 Dec 2024
$1.3M
Median Sale Price
73%
Clearance Rate
8/11
Sold/Reported
$1.7M
Highest Sale Price
| Sold Price Range | No. of Sold Properties | |
|---|---|---|
| $1.6 M - $1.8 M | 1 | |
| $1.4 M - $1.6 M | 1 | |
| $1.2 M - $1.4 M (Median Price Range) | 2 | |
| $600 K - $800 K | 1 | |
Similar Suburbs to West Melbourne 3003
Based on median house sale price sold in last 12 months
Schools closest to West Melbourne, VIC 3003
| School name | Address | Type | Sector | Distance |
|---|---|---|---|---|
| Eltham College of Education City CampusTop 100 | Melbourne 3000 | Combined | Independent | 0.94 km |
| North Melbourne Primary School | 210 ERROL STREETNorth Melbourne 3051 | Primary | Government | 1.31 km |
| Ozford College | LEVELS 2 AND 5, 123 LONSDALE STREETMelbourne 3000 | Secondary | Independent | 1.12 km |
| University High School | 77 STORY STREETParkville 3052 | Secondary | Government | 1.51 km |
| St Michael's School | 8 BROUGHAM STNorth Melbourne 3051 | Primary | Catholic | 1.89 km |
| St Aloysius College | 31 CURRAN STNorth Melbourne 3051 | Secondary | Catholic | 1.99 km |
| Stotts College | 43 ELIZABETH STREETMelbourne 3000 | Secondary | Independent | 1.8 km |
| Carlton Gardens Primary School | 215 RATHDOWNE STREETCarlton 3053 | Primary | Government | 1.92 km |
| Victorian College Of The Arts Secondary SchoolTop 50 | 57 MILES STREETSouthbank 3006 | Secondary | Government | 2.43 km |
| Carlton Primary School | CNR PALMERSTON & DRUMMOND STSCarlton 3053 | Primary | Government | 2.32 km |