Suburb Profile Report for Mulgrave VIC (3170)

Mulgrave House: Median price $755,000, Annual capital growth 8.25%, Number of sales 220, Weekly median advertised rent $440

Mulgrave Unit: Median price $631,000, Annual capital growth 7.78%, Number of sales 50, Weekly median advertised rent $370

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

Source: CoreLogic

  • House Report
  • Unit Report

Property investors who have had real estate in Mulgrave, 3170 should be relatively pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 7.86%

Mulgrave,3170 has offered an average of 7.86% return per annum in house price rises to property investors over the last three years.

Property buyers and investors in Mulgrave 3170 should be seeing an average reduction in asking price of around -4.15% . This means that Mulgrave is holding prices well when compared to other suburbs in VIC.

Investment property in Mulgrave has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 8.79%

If we look at median property appreciation over just the last three months, Mulgrave has given property investors a paper return of -1.02%. This puts Suburb as 242 on a list of fastest fasting appreciating suburbs in VIC

Property investors looking for a bargain in Mulgrave should be aiming for at least -4.71% off the asking price, which is the average vendor discount being achieved at the moment.

Residents and property investors in Mulgrave have been waiting around 57.35 days to sell a property.

Using the current median advertised rental of $370 and the average annual increase in value of a median property of 7.78%, investors should hope to achieve an overall return of 3.05%

HOUSE UNIT
$755,000 $631,000
-1.56% -1.02%
7.86% 8.79%
8.25% 7.78%
$440 $370
220 50
3.03% 3.05%
61.27 57.35

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
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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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Recent sales & rentals