2. VIC
  3. Melbourne

North Melbourne VIC 3051

Houses Units

Here you can find what you need to know about North Melbourne, VIC, including house prices in the area, median values, annual growth, recent sale prices, maps, a suburb profile and much more.

Suburb Insights
for Houses in last 12 months

At a Glance

$1.1M Median Sale Price (National Average $485k) 185th In VIC
-18% Median Sale Price Change (1yr) (National Average 4.30%) 2767th In VIC
$700pw Median Rent (National Average $395) 90th In VIC
3.2% Median Gross Yield (National Average 4.24%) 370th In VIC
Properties sold 55
Average discounting -4.51%
Average Days on Market 50
Stock on Market 52 for sale

Investment Strategy Scores

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How we calculate the suburb Cash Flow Score

The suburb Cash Flow Score is simply the average of all the individual Cash Flow Scores for each property in that suburb.

A higher score indicates the suburb is more likely to contain properties that deliver an above average gross yield.

North Melbourne, VIC National
Median
Gross Yield

Investor Scores are computer generated and should not be regarded as personal or general advice about investing in residential property. They should not be relied on as such — persons seeking to buy or sell residential property should always seek appropriate professional advice. The methodology used to develop the Scores depends on the availability of property data and also depends on certain assumptions and estimates.
How we calculate the suburb Capital Growth Score

The suburb Capital Growth Score is simply the average of all the individual Capital Growth Scores for each property in that suburb.

A higher score indicates the suburb has recently experienced significant capital growth and the short term outlook for further growth is likely to be good given strong market health indicators.

North Melbourne, VIC National
Change in Median
Price (1 yr)
Average Days
on Market
Average Vendor
Discounting

Investor Scores are computer generated and should not be regarded as personal or general advice about investing in residential property. They should not be relied on as such — persons seeking to buy or sell residential property should always seek appropriate professional advice. The methodology used to develop the Scores depends on the availability of property data and also depends on certain assumptions and estimates.
How we calculate the suburb Lower Risk Score

The suburb Lower Risk Score is simply the average of all the individual Lower Risk Scores for each property in that suburb.

A higher score indicates the suburb has increased in value over a longer period so is less likely to only be due to recent market forces. It is also likely to contain properties that command higher rent than average and therefore attract higher income tenants. Furthermore, properties in this suburb are likely to be easier to sell in the future due to strong market health indicators.

North Melbourne, VIC National
Average Days
on Market
Change in Median Price
(5 yr)
Average Vendor
Discounting

Investor Scores are computer generated and should not be regarded as personal or general advice about investing in residential property. They should not be relied on as such — persons seeking to buy or sell residential property should always seek appropriate professional advice. The methodology used to develop the Scores depends on the availability of property data and also depends on certain assumptions and estimates.

Development Permits for Houses

Building permits are provided for council approved development applications. Where the available permits contain the type of development, date of submission, the date of approval, estimated build cost, estimated development area, builder and materials listed.

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Property Prices in North Melbourne


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State Auction Clearance Rates


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Local Schools


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Suburb Information

North Melbourne, VIC 3051

Part of: Melbourne Council No data available

The size of North Melbourne is approximately 2.4 square kilometres. It has 12 parks covering nearly 4.7% of total area. The population of North Melbourne in 2011 was 11,755 people. By 2016 the population was 14,948 showing a population growth of 27.2% in the area during that time. The predominant age group in North Melbourne is 20-29 years. Households in North Melbourne are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in North Melbourne work in a professional occupation. In 2011, 31.4% of the homes in North Melbourne were owner-occupied compared with 28.5% in 2016. (source: Australian Bureau of Statistics)

View all properties for sale in North Melbourne

Demographic data provided
by Australian Bureau of Statistics

Market Trends for North Melbourne   for Houses in last 12 months


There have been 55 Houses sold in North Melbourne in the past 12 months with a median sale price of $1.1M, down 18.0% annually. It takes on average 43 days to sell with vendor discounting of -4.5%.

Others also viewed

Suburb Median Sale Price Change (1yr) Median Sale Price Median Rent Median Gross Yield
West Melbourne VIC, 3003 -4.53% $1,212,500 $665pw 2.9% View Suburb Profile
Carlton VIC, 3053 5.63% $1,425,000 $650pw 2.4% View Suburb Profile
North Narooma NSW, 2546 Unavailable $900,000 Unavailable Unavailable View Suburb Profile
Parkville VIC, 3052 -5.30% $1,800,000 $785pw 2.3% View Suburb Profile
Kensington VIC, 3031 -4.91% $1,093,500 $675pw 3.2% View Suburb Profile
Melbourne VIC, 3000 Unavailable $375,000 $575pw 8.0% View Suburb Profile

Currency

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