I don't want to get into disagreements here, but as an investor you do your own due diligence and if the research stacks up for you, then make a decision based on your own investment plan and financial conditions not on what others say.
Most of the posts in this thread say ... too much vacant land, no capital gains, high unemployment, no infrastructure, wouldn't touch it with a barge pole etc, etc ..... That's fine and probably valid comment. I was hearing these same reasons for not investing in Melton back in 2006, when we bought our first Melton IP. It doesn't mean you can't make money.
For the record ... we still own property in Melton and we have sold one of our IP's. The one we sold we paid $160k (06) and sold for $256,000 (2012) after a $5,500 cleanup/reno. We held the property for 6 years. Not a fortune I grant you, but a reasonable return.
Should people invest in Melton ... Make your own mind up, don't let other people make the decision for you. Can you make more money investing somewhere else ... highly likely, but that probably goes for any location.
Mystery
PS ... It can be a bugger trying to find good tenants in Melton, especially in the older style properties. When you get a good one hang on for dear life ..