Suburb Profile Report for Mulgrave VIC (3170)

Mulgrave House: Median price $838,000, Annual capital growth 8.31%, Number of sales 243, Weekly median advertised rent $450

Mulgrave Unit: Median price $620,000, Annual capital growth 5.79%, Number of sales 33, Weekly median advertised rent $400

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report

At number 1607th in the list of Australian suburbs ordered by increase in median house value over the last year, Mulgrave, 3170 is in the top 40% with a property value increase of 9.04% recorded in median house prices.

The five-year average increase in median property values for Mulgrave,3170 has given property investors a potential capital gain of 60.38% across each of those five years.

LACK OF BUYER INTEREST may well be the reason that Mulgrave is offering property investors an average of -5.53. This rate of discount on properties puts Suburb at number 30th in terms of most discounted suburbs in VIC

Property investors should expect to get $450 weekly from the median priced house in this suburb.

Property value increases in Mulgrave have tracked lower than the VIC average of 4.79% over the last 12 months.

Over the longer term, Mulgrave has seen property prices show investors a 21.57% return over the last 3 years. This is worse than over the last 12 months

Property buyers and investors in Mulgrave 3170 should be seeing an average reduction in asking price of around -7.57% . This means that Mulgrave is holding prices well when compared to other suburbs in VIC.

At number 375 in a list of fastest selling suburbs, Mulgrave is in the TOP 30% of suburbs in Australia with an average of days on market 56 for properties listed there.

Property investors should expect to get $400 weekly from the median priced house in this suburb.

Metrics i HOUSE UNIT
$838,000 $620,000
4.95% -0.28%
9.04% -4.25%
8.31% 5.79%
$450 $400
243 33
2.79% 3.35%
73.3 56

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 17647
Median household income ($/weekly) 1347
Median age of persons 39
Median housing loan repayment ($/monthly) 1950
Average household size 2.8
  • Census Count Percent(%)
    25-34 years 2620 14.8
    35-44 years 2603 14.8
    45-54 years 2110 12.0
    55-64 years 2240 12.7
    65-74 years 1768 10.0
    Others 6306 35.7
    Age Group
    Census Count Percent(%)
    Registered Married 7923 57.1
    Not Married 5336 38.5
    Defacto Relationship 615 4.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 9494 55.6
    Croatia 795 4.7
    Indonesia 609 3.6
    Sri Lanka 780 4.6
    Other 1113 6.5
    Others 4295 25.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 1277 7.7
    Christianity 11292 68.1
    Hinduism 533 3.2
    Islam 419 2.5
    No Religion 2834 17.1
    Others 222 1.3
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 535 9.6
    $1,000-$1,249 505 9.1
    $1,500-$1,999 767 13.8
    $2,000-$2,499 598 10.8
    $2,500-$2,999 503 9.1
    Others 2650 47.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 5584 39.5
    Not in the labour force 5086 36.0
    Employed, worked part-time 2502 17.7
    Employed, away from work 526 3.7
    Unemployed, looking for work 444 3.1
    Person Characteristics
  • Census Count Percent(%)
    Managers 1029 12.0
    Professionals 1972 22.9
    Technicians & trades workers 1188 13.8
    Clerical & administrative workers 1399 16.3
    Sales 882 10.2
    Others 2139 24.8
    Occupation
    Census Count Percent(%)
    Pre-school 287 7.6
    Infants/Primary 1113 29.4
    Secondary 1006 26.6
    Technical or Further Educational Institution 366 9.7
    University or other Tertiary Institutions 883 23.3
    Others 128 3.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 15953 94.3
    Semi-detached, row or terrace house, townhouse 618 3.7
    Flat, unit or apartment 318 1.9
    House or flat attached to a shop, office 26 0.2
    Caravan, cabin, houseboat 5 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 2545 42.3
    Being purchased 2255 37.4
    Rented 1175 19.5
    Other tenure type 47 0.8
    Tenure Type
Census 2011, ABS
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