Toolern street, Melton South

Toolern street, Melton South @ wealthruproperty.com 1

A quiet cul-de-sac, Toolern street in Melton is only 600m from Melton train station on Brooklyn street, 300m to local shops and 500m to the local Station Square Shopping Centre which includes Coles, Liquorland, local butcher, newsagent, UFS pharmacy, fruit and vegetable grocer, post office and restaurants.

Toolern street is a 5-minute drive to the Woodgrove and Coburns Central Shopping Centre at the corner of High street and Coburns road, Hannah Watts Park and Melton Valley Golf Club.

Being on the southern end of Melton, this location surrounded by schools and learning institutions within a 1.5km radius which include Melton Christian College, St Anthony’s College, Victoria University’s Melton campus, Staughton College, Melton South primary school and Coburn and Brookfield primary schools.

Most importantly, located to the south east of Melton township, Toolern is a 2,500-hectare urban growth area within the current Urban Growth Boundary. The Melton Council has commenced a $15 billion initiative to establish the area as a major growth centre for Victoria which will be one of the biggest growth precincts across metropolitan Melbourne. The massive, long term urban investment strategy is a visionary program to create a major new investment location for Victoria.

Vital statistics

Suburb Median house price $ Weekly advertised median rent $ Gross yield $ 3-year growth % 5-year growth % Average annual growth %
Melton 220,000 230 5.4 22.2 29.0 9.5
Melton South 208,000 220 5.5 18.9 22.4 9.7
Melton West 245,000 240 5.1 11.4 16.7 8.0

Source: Your Investment Property, December 2009

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How it’s calculated:

Median price: Median price for the 12 months to August 2009

Average annual growth: Average percentage change over the past 10 years as a per annum figure

5-year growth: Median price percentage change over the past 5 years to August 2009

Weekly median advertised rent: Median price of rental listings for the 12 months to August 2009

Gross yield: Estimated rental return, based on advertised rent to median price

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