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.
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.
|Suburb||Median house price $||Weekly advertised median rent $||Gross yield $||3-year growth %||5-year growth %||Average annual growth %|
Source: Your Investment Property, December 2009
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