Suburb Profile Report for Mulgrave VIC (3170)

Mulgrave House: Median price $795,000, Annual capital growth 8.17%, Number of sales 231, Weekly median advertised rent $440

Mulgrave Unit: Median price $623,500, Annual capital growth 7.30%, Number of sales 44, Weekly median advertised rent $390

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

Source: CoreLogic

  • House Report
  • Unit Report

If you compare the increase in value of investment property in Mulgrave, 3170 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was 3.92%.

Across a shorter period, Mulgrave, 3170 has seen a median price increase of 1.66% over the last quarter.

Our latest figures would indicate that property sellers in Mulgrave are currently offering property investors an average price cut of -8.73% below the asking price at the moment.

A $440 per week rent on the median house gives suburb investors a gross yield of circa 2.88%, without taking into account capital value appreciation, which has been averaging out at 8.17%.

Over the last year, property investments in Mulgrave, 3170 have given investors a capital gain of 3.92%. This compares averagely with the 4.26% for VIC as a whole.

Across a shorter period, Mulgrave, 3170 has seen a median price increase of 1.47% over the last quarter.

Property buyers and investors in Mulgrave 3170 should be seeing an average reduction in asking price of around -6.19% . This means that Mulgrave is holding prices well when compared to other suburbs in VIC.

Metrics i HOUSE UNIT
$795,000 $623,500
1.66% 1.47%
3.92% 3.92%
8.17% 7.30%
$440 $390
231 44
2.88% 3.25%
72.53 59.95

Source: CoreLogic

DSR Score for property investment : Good (U), Very 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