Suburb Profile Report for Millgrove VIC (3799)

Millgrove House: Median price $295,000, Annual capital growth 5.00%, Number of sales 51, Weekly median advertised rent $290

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

Source: CoreLogic

  • House Report

Millgrove is in the bottom 30% in VIC when comparing median price capital growth over the last year. Millgrove gave property investors a disappointing capital gain figure when compared to the rest of the state, with 2.61%.

If we look at median property appreciation over just the last three months, Millgrove has given property investors a paper return of 1.13%. This puts Suburb as 448 on a list of fastest fasting appreciating suburbs in VIC

The most recent median price for Millgrove is $295000, with sellers offering an average of -3.37% off the asking price.

At number 48 in a list of fastest selling suburbs, Millgrove is in the TOP 10% of suburbs in Australia with an average of days on market 28.3 for properties listed there.

A $290 per week rent on the median house gives suburb investors a gross yield of circa 5.11%, without taking into account capital value appreciation, which has been averaging out at 5.00%.

Metrics i HOUSE UNIT
$295,000 N/A
1.13% N/A
2.61% N/A
5.00% N/A
$290 N/A
51 N/A
5.11% N/A
28.3 N/A

Source: CoreLogic

DSR Score for property investment : Good (U), Excellent (H)
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Demographics
Total population 1554
Median household income ($/weekly) 769
Median age of persons 40
Median housing loan repayment ($/monthly) 1170
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 184 11.8
    25-34 years 174 11.2
    35-44 years 213 13.7
    45-54 years 257 16.5
    55-64 years 211 13.6
    Others 514 33.1
    Age Group
    Census Count Percent(%)
    Not Married 591 52.6
    Registered Married 395 35.2
    Defacto Relationship 137 12.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 1241 86.2
    New Zealand 19 1.3
    Papua New Guinea 18 1.3
    United Kingdom 94 6.5
    Other 19 1.3
    Others 48 3.3
    Country of Birth
    Census Count Percent(%)
    Christianity 716 55.2
    No Religion 533 41.1
    Buddhism 27 2.1
    Other Religious Groups 17 1.3
    Hinduism 3 0.2
    Others 0 0.0
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 70 12.9
    $400-$599 82 15.1
    $600-$799 85 15.6
    $800-$999 64 11.8
    $1,000-$1,249 68 12.5
    Others 175 32.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 492 42.9
    Employed, worked full-time 359 31.3
    Employed, worked part-time 200 17.4
    Employed, away from work 50 4.4
    Unemployed, looking for work 47 4.1
    Person Characteristics
  • Census Count Percent(%)
    Technicians & trades workers 122 20.1
    Community & personal service workers 92 15.2
    Clerical & administrative workers 65 10.7
    Machinery operators & drivers 76 12.5
    Labourers 110 18.1
    Others 142 23.4
    Occupation
    Census Count Percent(%)
    Pre-school 27 8.3
    Infants/Primary 116 35.7
    Secondary 93 28.6
    Technical or Further Educational Institution 30 9.2
    University or other Tertiary Institutions 36 11.1
    Others 23 7.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1435 99.8
    Caravan, cabin, houseboat 3 0.2
    Semi-detached, row or terrace house, townhouse 0 0.0
    Flat, unit or apartment 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 293 47.6
    Fully owned 194 31.5
    Rented 122 19.8
    Other tenure type 6 1.0
    Tenure Type
Census 2011, ABS
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