Median priceⓘLast 12 months
560kk
↑ +10.8% YoY
West Melbourne is one of the country's biggest unit rental markets — houses make up a tiny share, with 872 leases (up 3.1%) at $630 a week (up 5.9%) as of July 2026, renting out in about 22 days (down from 28 days last year), more sought-after than most unit rental markets in Victoria, with 2-bedroom and 1-bedroom roughly tied at around 45% each.
Unit sales make up a much smaller share, with 283 sales (up 0.4%) at around $560k (up 10.8%), taking about 44 days to sell (up a lot from 34 days last year), with just over half being 2-bedroom. Rounding it out, 56 house rentals at $745 a week (with rents weaker than most house rental markets). 30 house sales at around $1.3M (among the country's biggest house price drops).
Who lives hereA middle-income, mostly-renter, young-professional suburb — apartment-dominated and newcomer-heavy, with great public transport.
House covers houses, duplexes, semi-detached and terraces; Unit covers apartments, units, townhouses and villas.
Census data sourced from the Australian Bureau of Statistics — © Commonwealth of Australia, 2021 Census of Population and Housing and Socio-Economic Indexes for Areas (SEIFA) 2021 · Shares, ratios and percentiles shown are Micromarkets transformations of that data · licensed CC BY 4.0.
The age structure, household make-up, and cultural fabric of the people who call this suburb home.
Share of all residents by 5-year band · hover a band for the count + split
21% report Chinese ancestry, but only 11% were born in China — the gap is the Australian-born and diaspora Chinese community, invisible in birthplace alone.
A fast-growing, recent-arrival migrant gateway.
2020–21 understated — COVID border closures.
Census data sourced from the Australian Bureau of Statistics — © Commonwealth of Australia, 2021 Census of Population and Housing · Shares, ratios and percentiles shown are Micromarkets transformations of that data · licensed CC BY 4.0.
What it costs to live here, who owns versus rents, and the shape of the housing stock.
Census data sourced from the Australian Bureau of Statistics — © Commonwealth of Australia, 2021 Census of Population and Housing · Shares, ratios and percentiles shown are Micromarkets transformations of that data · licensed CC BY 4.0.
Incomes, employment, and the occupation mix of the people who live here.
A typical household earns about 1.7× the typical individual here.
Census data sourced from the Australian Bureau of Statistics — © Commonwealth of Australia, 2021 Census of Population and Housing · Shares, ratios and percentiles shown are Micromarkets transformations of that data · licensed CC BY 4.0.
How people get to work, and how car-dependent the suburb is — the clearest tell of inner-urban versus outer-suburban living.
Census data sourced from the Australian Bureau of Statistics — © Commonwealth of Australia, 2021 Census of Population and Housing · Shares, ratios and percentiles shown are Micromarkets transformations of that data · licensed CC BY 4.0.
Education · ACARA My School 2025
1 school inside West Melbourne, plus the closest options around it. Families can choose from 35 primary schools in West Melbourne and its surrounds, and 15 high schools covering the secondary years. Distances are straight-line from the suburb centre and are not enrolment catchments — always confirm zones with the school.
ICSEA is ACARA’s official measure of a school’s socio-educational advantage — based mainly on parents’ education and occupation, plus the school’s location and student mix.
Why are some State Rank and star ratings blank? Schools can choose not to publish their results. In practice, schools that score well above their state average almost always publish theirs — so a blank rating more often reflects a school opting out than a top result being hidden. Academic results also tend to rise with ICSEA Rank, so higher-ICSEA schools more often carry a strong State Rank as well.
School profile and ICSEA data sourced from ACARA — © Australian Curriculum, Assessment and Reporting Authority (data year 2025) · State Rank & star columns are Micromarkets-compiled academic ratings from publicly available school results · Distances are straight-line from the suburb centre, not catchments.
How settled or transient the community is — and where newcomers came from.
Headline price, rent, yield and time on market for West Melbourne — choose a property type and size below.
Every segment this suburb tracks — sales and rentals side by side, ranked by total activity over the last twelve months.
Where each segment sits against its peers in the chosen geography — past the midline means it's outperforming the rest.
Market demandHow fast this market is moving — a velocity index built from trailing-year transaction volume and median days on market. Strong volume lifts the score; days on market drags it down, with the drag growing sharply once listings start lingering. Ranked against peers in the chosen geography.
What it costs each week to own a property versus renting the same one — positive means buying carries the premium, negative means rent covers the mortgage.
Two questions on one chart — how strong demand is right now, and which way it's heading year-on-year.
Eight diagnostic views cutting the data a different way each time — West Melbourne in blue, peers in colour.
How long current listings would take to clear at the recent rate of sales or leases. Critical shortage and Oversupply only fire at the genuine tails of the national distribution — sales tip in under 0.7 months, rentals far faster, under 0.3.
| Segment | Band | Months of supply left | YoYYoY change12-month change in months of supply. Down means stock is tightening (fewer months than a year ago); up means stock is loosening. | ListedListedActive listings in this segment right now, derived from months of supply multiplied by the recent transaction rate. | SoldSold (last year)Total sold transactions completed in this segment over the last 12 months. | Per monthPer monthAverage monthly absorption — how many properties are sold each month in this segment, over the last 12 months. |
|---|---|---|---|---|---|---|
| Loose | 5.1 | ▼ -1.6 | 64 | 151 | 12.6 | |
| Loose | 5.2 | ▲ +0.3 | 42 | 97 | 8.1 | |
| Loose | 5.2 | ▼ -1.0 | 123 | 283 | 23.6 | |
| Loose | 5.6 | ▼ -1.5 | 15 | 32 | 2.7 | |
| Oversupply | 7.2 | ▲ +4.3 | 18 | 30 | 2.5 |
| Segment | Band | Months of supply left | YoYYoY change12-month change in months of supply. Down means stock is tightening (fewer months than a year ago); up means stock is loosening. | ListedListedActive listings in this segment right now, derived from months of supply multiplied by the recent transaction rate. | LeasedLeased (last year)Total leased transactions completed in this segment over the last 12 months. | Per monthPer monthAverage monthly absorption — how many properties are leased each month in this segment, over the last 12 months. |
|---|---|---|---|---|---|---|
| Tight | 0.4 | ▼ -1.6 | 2 | 56 | 4.7 | |
| Tight | 0.5 | ▼ -1.2 | 1 | 24 | 2.0 | |
| Slightly loose | 1.1 | ▼ -1.8 | 2 | 22 | 1.8 | |
| Loose | 1.6 | ▼ -3.1 | 6 | 45 | 3.8 | |
| Loose | 1.8 | ▼ -1.1 | 59 | 391 | 32.6 | |
| Loose | 1.8 | ▼ -1.2 | 64 | 425 | 35.4 | |
| Loose | 1.8 | ▼ -1.2 | 131 | 872 | 72.7 |
Out of every property transaction in this suburb, what share are sales versus leases — each point a rolling twelve-month window.
Each tape traces one metric across sixty months for the selected segment — every point a trailing twelve-month figure, matching the headline KPIs above.
Five-year summaryAs of Jun 2026, the median house sale price in West Melbourne rose from $1.14M (Jul 2021) to $1.30M (Jun 2026) — +13.8% growth over five years — peaking at $1.48M between Aug 2021 and Jul 2022. Median house rent went from $605/wk to $745/wk (+23.1%) over the same period. For units, the median sale price fell from $586k to $560k (−4.4%), with rent up from $385/wk to $630/wk (+63.6%) over the same period.
The nearest suburbs to West Melbourne, ranked by distance — each lined up against West Melbourne on the same measures, so the differences jump out at a glance.
Suburbs anywhere in VIC that behave like West Melbourne — matched on price, growth, selling speed and demand, not on distance. A shortlist of markets that move the same way — including ones far away you'd never think to compare. (Want the suburbs right next door instead? See Nearby markets above.)
West Melbourne vs Parkville: the closest sales-market match trades at a median of $478k against West Melbourne's $560k — about 15% lower, with homes selling in 41 days versus 44 days here.
Comparable sales markets to West Melbourne: Parkville property market, Romsey property growth, Caroline Springs property growth, Officer, VIC property market, Fraser Rise property growth, Truganina property market, Laverton house prices and East Melbourne property prices.
West Melbourne's closest rental-market twins: South Melbourne property growth, East Melbourne market trends, Port Melbourne property market, Armadale median house price, Footscray property growth, Hawthorn East market trends, Kew (VIC 3101) and Balaclava property growth. Each link opens that suburb's full market report.
26 data-driven answers about West Melbourne's property market — every one computed from the metrics above.
The median house price in West Melbourne, VIC 3003 is $1.3M as of June 2026, based on 30 sales over the past 12 months. Houses there have moved −7.0% year-on-year. Prices vary by bedroom count, from compact two-bedroom homes to larger four-bedroom houses. See the bedroom-level breakdown below for 2-, 3- and 4-bedroom medians.
The median unit price in West Melbourne, VIC 3003 is $560k as of June 2026, based on 283 sales over the past 12 months. Units have moved +10.8% year-on-year and currently trade at roughly 43% of the median house price.
The median weekly house rent in West Melbourne is $745 as of June 2026, drawn from 56 leases over the past 12 months. Units rent for around $630 per week. House rents have moved +0.0% year-on-year. Current vacancy pressure is shown in the supply section above.
A 3 bedroom house in West Melbourne rents for a median $905 per week as of June 2026, drawn from 22 leases over the past 12 months. Across other house sizes: 2-bedroom $645/week, 4-bedroom $1235/week. Unit rents: 1-bedroom $555/week, 2-bedroom $705/week, 3-bedroom $895/week. Figures cover only segments with enough recent leases to be statistically meaningful; sparse segments are excluded. The segment breakdown covers rent, yield and days on market for every property type and bedroom count.
Gross rental yield in West Melbourne is 3.00% for houses and 5.90% for units as of June 2026, compared with the VIC unit median of 5.19%. Gross yield is annual rent divided by purchase price — it doesn't account for ownership costs like council rates, strata, maintenance or vacancy.
As of June 2026, West Melbourne medians by bedroom count:
| Property | 1 bed | 2 bed | 3 bed | 4 bed | Total |
|---|---|---|---|---|---|
| Houses | — | $1.03M | $1.49M | $1.76M | $1.3M |
| Units | $406k | $606k | $1.09M | — | $560k |
Figures cover only segments with enough recent transactions to be statistically meaningful; sparse segments are excluded.
At the median West Melbourne house ($1.3M purchase, $745/week rent), weekly mortgage repayments sit at roughly $1438 — about $693 more per week than renting. That gap is the ownership premium. For the median unit ($560k purchase, $630/week rent), repayments run about $619 per week. Figures assume 80% LVR, a 6.0% interest rate and a 30-year principal-and-interest loan.
West Melbourne's property market trends to June 2026: house prices fell −7.0% year-on-year and units +10.8%; weekly house rents moved +0.0%; homes now sell in a median 38 days — faster than a year ago by 51; sales supply sits at 7.2 months (saturated). Read together — price, rent, selling speed and supply — they show which way the West Melbourne market is leaning. The 5-year tape and demand cycle charts above plot the full trajectory.
As of June 2026 in West Melbourne, house prices fell −7.0% over the year, gross rental yield is 3.00% against a VIC median of 3.82%, houses take a median 38 days to sell, sales supply is 7.2 months (saturated). Capital growth, rental yield, selling speed and supply are the signals investors weigh — but these figures describe the market, not a recommendation. This is data, not financial advice; always do your own research and consider a licensed adviser.
Houses in West Melbourne sell in a median 38 days on market as of June 2026, with units clearing slightly slower at 44 days. Days on market have tightened by 51 days versus a year ago. Faster clearance typically coincides with stronger buyer demand and lower supply.
West Melbourne's sales market sits at 7.2 months of supply for houses as of June 2026 — classified as Saturated (extreme oversupply) against the Australian distribution. Under 1.7 months is Severe (extreme shortage); over 4.5 months is Loose. The rental side is tighter still at 0.4 months of supply.
House prices in West Melbourne moved −7.0% over the 12 months to June 2026, while units moved +10.8%. The 5-year tape above plots the full monthly trajectory — showing where the market changed character rather than just crossing round numbers.
West Melbourne's house rental market sits at 0.4 months of supply as of June 2026 — classified as Severe (extreme shortage), with 56 houses leased over the past 12 months. Units sit at 1.8 months. Tighter supply typically corresponds to faster letting and upward pressure on rents.
West Melbourne's house market is currently in the 'softer_firming' phase as of June 2026 — combining below-median sales velocity nationally with year-on-year tightening in days on market. The demand cycle chart above plots all eight segments on the same demand-versus-direction axes.
West Melbourne's median house price ($1.3M) is 68% above the VIC median ($775k) as of June 2026. On selling speed, houses clear in 38 days vs 29 days state median. On gross yield, West Melbourne sits at 3.00% vs 3.82% state median.
West Melbourne's most-similar nearby market is Williamstown North (6.6 km away) with a median house price of $1.24M — about 5% cheaper. The Nearby and Similar markets sections above rank every peer within radius and by composite similarity across price, days on market, yield, ownership cost and cycle phase.
The most-transacted segment in West Melbourne over the 12 months to June 2026 is 2 bed units with 151 sales. 1 bed units come second at 97 sales. The buying-versus-renting section above breaks down the top segments with weekly mortgage, rent and ownership-cost detail.
West Melbourne recorded 30 house sales and 283 unit sales over the 12 months to June 2026 — a combined 313 transactions. On the rental side, 56 houses and 872 units were leased. Segments with statistically thin samples are excluded from displayed figures.
West Melbourne is in postcode 3003, in the Inner Melbourne region of VIC. Addresses there are written as West Melbourne, VIC 3003.
West Melbourne, VIC 3003 is home to 8,025 residents (ABS Census 2021). The median resident age is 31, and the average household holds 1.9 people. The "Who lives here" section above breaks the community down by age, life stage and tenure.
The median household in West Melbourne earns $2k per week — roughly $93k a year (ABS Census 2021). Median personal income runs $1k/week. Income, rent-to-income and mortgage-to-income context sits in the "Who lives here" section above.
The unemployment rate in West Melbourne is 6.4% (ABS Census 2021). That is higher than 80% of Australian suburbs. The rate counts people who are working or actively looking for work — not a share of all residents. Workforce participation sits at 80%. The local economy section above covers incomes, employment status and the occupation mix.
West Melbourne tilts towards renters: about 33% of households are owner-occupiers and 66% rent (ABS Census 2021). Of owners, 12% own outright and 21% are paying off a mortgage.
West Melbourne has 150 schools within reach, 1 of them inside the suburb itself — including Simonds Catholic College. The Schools section above maps each one with sector, year range, enrolment, Micromarkets-compiled academic ratings and ICSEA (ACARA).
West Melbourne, VIC 3003 has a population of 8,025, a median age of 31, a median household income around $2k/week, 66% of households renting (ABS Census 2021). There are 150 schools within reach. Whether it's the right fit depends on your priorities — these figures describe the community, housing mix and amenity rather than offer a verdict.
This West Melbourne market data was last updated July 2026, covering the 12 months to June 2026. Figures are computed monthly from 12-month rolling windows of recorded sales and leases, with five years of monthly history behind the trend charts. Methodology, glossary and data sources are linked in the footer.
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