407/15 Queens Road

Melbourne VIC 3004

The size of Melbourne is approximately 3.8 square kilometres. It has 14 parks covering nearly 74.2% of total area. The population of Melbourne in 2011 was 28,370 people. By 2016 the population was 47,293 showing a population growth of 66.7% in the area during that time. The predominant age group in Melbourne is 20-29 years. Households in Melbourne are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Melbourne work in a professional occupation. In 2011, 34.7% of the homes in Melbourne were owner-occupied compared with 29% in 2016.

Melbourne has 13,568 properties. Over the last 5 years, Houses in Melbourne have seen a -33.78% decrease in median value, while Units have seen a -8.06% decrease. As at 28 February 2025:

• The median value for Houses in Melbourne is $1,322,627 while the median value for Units is $650,029.
• Houses have a median rent of $625 while Units have a median rent of $650.