Suburb brief · West Melbourne VIC 3003
The thesis below links every claim to maintained evidence. Open a line item to inspect the underlying record without leaving the brief.
60/100
82%
6.6%
Updated April 2026
Thesis
West Melbourne VIC 3003 is summarised from maintained observations only. The call weighs market pressure, local profile, dwelling mix and risk without filling gaps from weaker substitutes.
Vacancy is 1.2%, inside the tight-rental threshold.
Vacancy rate · Updated April 2026Renter share is 65.2%, showing the depth of the tenant pool.
Renter share · Updated April 2026Median household income is $1,788/wk.
Household income (median) · Updated April 2026Census median rent was $388/wk at the last Census.
Median rent (Census) · Updated April 20262 mapped local places sit within 1km.
Local places within 1km · Updated April 2026Gross yield is 6.6%, above the 4.0% income floor.
Gross yield · unit · Updated April 2026Apartments make up 79.6% of dwellings, so strata quality and competing supply matter more here.
Flats / apartments · Updated April 2026Market snapshot
$538k
What this means: Use this as the local unit-price benchmark before judging an apartment or townhouse. Compare the exact property against recent nearby sales.
$1.68M
What this means: Use this as the local house-price benchmark. A property well above this needs a clear land, condition, school-zone or scarcity reason.
Recent news & DA activity
No recent news or DA activity in the monitoring window. The Scout rechecks the news feed nightly and the DA register on councils’ weekly publish.
Nearby pockets worth watching
Drill-down suburb report · 174 metrics across 3 research stages
The summary above gives the read first. Open a stage below only when you want the supporting numbers and how each signal is calculated.
VIC · 3003
Overall fit
60
out of 100
This report shows 174 maintained signals. Updated March 2026.
propautopilot · West Melbourne · VIC · 3003
Generated 26 Apr 2026 · Not financial advice. General information only.
Compass
Your read on West Melbourne
West Melbourne is on the edge — some signals strong, others soft. 174 of 174 signals maintained.
Before you inspect
A first suburb-level screen for hazards, safety, and community signals that could change whether this area stays on your shortlist. Verify the exact address before making an offer.
4 checks
Stage 1 · Strategy
12 signals grouped into 1 profile plus 1 standalone card: 12 maintained.Numbers that set your price band, cash-flow expectations, and portfolio shape.
Stage 2 · Suburbs
147 signals grouped into 19 profiles plus 5 standalone cards: 147 maintained.The signals the Scout weighs when narrowing your shortlist.
Stage 3 · Property
15 signals grouped into 2 profiles: 15 maintained.The numbers that tell you which streets and property profiles fit your criteria.
Editorial brief
West Melbourne VIC 3003 is summarised from maintained observations only. The call weighs market pressure, local profile, dwelling mix and risk without filling gaps from weaker substitutes.
The drill-down carries 174 populated metrics across 3 research stages, with thin or missing fields left explicit.
Last reviewed April 2026. Use this as the suburb screen, then confirm street, building and listing-specific facts before acting.
Frequently asked
West Melbourne is a suburb in VIC (postcode 3003).
The median house price in West Melbourne VIC 3003 is $1.68M based on the most recent twelve-month sales record. Unit and apartment medians track separately and may sit materially below the house figure depending on the dwelling mix in the suburb.
Gross rental yield on houses in West Melbourne VIC 3003 sits at 3.0% based on current rents against the prevailing median sale price. That is below the income-investor threshold most buyers use as a screening floor — the suburb leans capital-growth rather than cashflow.
The vacancy rate in West Melbourne VIC 3003 is 1.2% on the most recent observation. Anything under 1.5% is a tight rental market with rapid re-letting and limited tenant choice.
West Melbourne VIC 3003 scores in the upper-mid range for investor fit on the maintained Compass scorecard (60/100). The score weighs price growth, rental yield, vacancy, supply pressure, demographic momentum and risk overlays together, so a single suburb can sit high overall and still be the wrong fit for a specific brief — confirm against your goals before acting.
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$680
What this means: Use this to sense holding comfort and tenant depth. It still needs expenses, vacancy and lending costs before it becomes a cashflow view.
1.2%
TightWhat this means: Lower vacancy usually means tighter rental demand. Very low numbers can move quickly, so use this with rent trend and stock-on-market.
Livability