Suburb Profile Report for Mulgrave VIC (3170)

Mulgrave House: Median price $821,000, Annual capital growth 8.25%, Number of sales 236, Weekly median advertised rent $450

Mulgrave Unit: Median price $621,750, Annual capital growth 5.82%, Number of sales 38, Weekly median advertised rent $395

  • 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 ok 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 7.32%

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Mulgrave has increased when compared to the 5 year average annual rate.

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.71% offered to property buyers. Sellers in Mulgrave itself are offering an average vendor discount of -10.20% to real estate investors.

Residents and property investors in Mulgrave have been waiting around 78.86 days to sell a property.

Mulgrave is 419th on a list of best yielding suburbs for rents in VIC with a 2.85% return

Over the last year, property investments in Mulgrave, 3170 have given investors a capital gain of -2.47%. This compares badly with the 4.83% for VIC as a whole.

When looking at the potential capital gains offered to property investors over the last 3 years, Mulgrave comes in at number 101th in VIC.

At number 63th of VIC’s most discounted properties, Mulgrave is in the bottom 30% of the state/territory when listing in order of most discounted to least.

In the last year 38 properties changed hands in Mulgrave, which puts it as the 227th most active market in VIC when comparing the number of sales per suburb.

With the median price for a house in Mulgrave being $621750 and the advertised rent reaching $395 the gross rental yield for property investors calculates out to be 3.30%

Metrics i HOUSE UNIT
$821,000 $621,750
3.92% 0.93%
7.32% -2.47%
8.25% 5.82%
$450 $395
236 38
2.85% 3.30%
78.86 58.42

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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