Market snapshot
Suburb insights for West Melbourne3003
Change suburbWest Melbourne is a sprawling region with the Yarra River forming part of its southern border. The west section is mostly devoted to railway lines container yards shipping docks and industrial warehouse and wholesale activities. The east is mainly residential. West Melbourne contains a dynamic mix of old and new housing community facilities retail and industry. Parts of this area including the streetscapes and buildings have recognised heritage value.
Sales data
Median sale price
$1.3mil
Annual price change
-3%
Metro Melbourne Comparison
$895k
-2.3%
| Bedrooms | West Melbourne | Metro comparison |
|---|---|---|
| 2 | - | $888,000 |
| 3 | - | $807,000 |
| 4 | - | $950,000 |
| Insight | West Melbourne | Metro comparison |
|---|---|---|
| Clearance rate | 72.6% | |
| Days on market | 58 | 43 |
Rental data
Median weekly rent
$725
Rental yield
2.9%
Metro Melbourne Comparison
$580
3.3%
| Bedrooms | West Melbourne | Metro comparison |
|---|---|---|
| 2 | $695 | $575 |
| 3 | - | $550 |
| 4 | - | $600 |
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