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Melrose Park suburb profile

Melrose Park is a picturesque suburb located in the northern part of Sydney, offering a peaceful residential environment with easy access to urban amenities. Nestled along the Parramatta River, it provides scenic views and a tranquil atmosphere, making it an attractive choice for families and professionals. The suburb is characterized by its leafy streets, well-maintained parks, and a mix of traditional and modern homes. With its proximity to major transport routes and the Parramatta CBD, Melrose Park offers convenience without sacrificing its serene charm. Its community-focused vibe and growing infrastructure make it a desirable location for those seeking a balanced lifestyle.

Melrose Park property market performance

Current median dwelling price$1,386,250Past 3 months

Property growth+4.2%Past 12 months

Melrose Park's property market has shown modest growth in unit values, increasing by 2.7% over the past 12 months, with the median unit price now at $822,500. House sales are notably low, with only 1 transaction, leading to no median house price data available for the period.

In terms of sales activity, 18 units were sold in the past 12 months, indicating a more active unit market compared to houses. The median time on market for units is 41 days, suggesting relatively steady demand.

Rental markets in Melrose Park have experienced significant growth, with house rents increasing by 12.3% and unit rents rising by 7.1%, reflecting heightened demand and competitive rental conditions in the area.

HousesUnits
Median price
Past 3 months
N/A$823K
Change in value
Past 12 months
6.3%2.2%
Sold
Past 3 months
114
Median days on market
Past 12 months
N/A38
Average rent
Past 12 months
$850$760
Change in rent
Past 12 months
9.3%8.6%

5 year median price trend for houses and units

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Melrose Park demographics

Melrose Park, nestled in Sydney's northern suburbs, offers a serene residential environment with a strong sense of community. With a population of 2,059, it is a relatively small suburb that provides a peaceful retreat from the hustle and bustle of city life. The median age of 37 suggests a mature community, with a balanced mix of young families and established residents who appreciate the suburb's family-friendly atmosphere and proximity to essential amenities.

The suburb is predominantly composed of couple families with children, making up 52.5% of the households, which highlights its appeal to families seeking a supportive environment for raising children. Additionally, 35% of households are couple families without children, indicating a significant number of residents who enjoy the suburb's tranquil setting. The presence of one-parent families and other family types, although smaller in proportion, adds to the diversity of the community.

Property ownership in Melrose Park is characterized by a high rate of homeownership, with 30.9% of properties owned outright and 42.1% owned with a mortgage. This reflects a stable and committed community, with many residents choosing to invest in their homes for the long term. The rental market, comprising 27% of the properties, provides options for those seeking flexibility or temporary residence in this charming suburb. With a median total household income of $2,182 per week, Melrose Park offers a comfortable lifestyle for its residents, combining suburban tranquility with convenient access to Sydney's urban amenities.

Suburbs near Melrose Park

Some popular suburbs near Melrose Park include:

How does Melrose Park compare to nearby suburbs?

  • Median house prices: Melrose Park’s median house price is 19.4% higher than Ermington’s.
  • Median unit prices: Melrose Park’s median unit price is 5.7% higher than Wentworth Point’s.
  • House price growth: Over the past 12 months, house prices in Melrose Park have grown 4.0% higher than in Ermington.
  • Unit price growth: Over the past 12 months, unit prices in Melrose Park have grown 2.2% higher than in Wentworth Point.
  • Selling speed for units: Properties in Melrose Park are selling 7.3% faster than in Wentworth Point.
  • Investment considerations: In Melrose Park, the rental yield for house is 6.7% lower than the Sydney average, while the rental yield for units is 2.8% lower.
  • House price growth: Over the past 12 months, house prices in Melrose Park have grown 32.5% higher than the average rate of growth across Sydney.
  • Unit price growth:Over the past 12 months, unit prices in Melrose Park have grown 11.1% lower than the average rate of growth for units across Sydney.

Choose the right real estate agents in Melrose Park

Choosing the right real estate agent in Melrose Park can have a big impact on your sale. While there are 43 real estate agents working in the suburb, but just 5 of them were responsible for 44.1% of all property sales over the past year, showing a strong footprint and track record in the area.

Commission rates typically range from 1.5% to 2.92%, depending on the agent and what’s included. Comparing both performance and fee structures can help you find someone who's well-suited to your needs, and set them up for a successful result.

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