Suburb Profile Report for Millgrove VIC (3799)

Millgrove House: Median price $290,000, Annual capital growth 5.11%, Number of sales 54, Weekly median advertised rent $290

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

Source: CoreLogic

  • House Report

Property investors who have had real estate in Millgrove, 3799 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 5.45%

Over the longer term, Millgrove has seen property prices show investors a 20.83% return over the last 3 years. This is worse than over the last 12 months

Sellers are offering property buyers an average discount of -3.20% to buyers in Millgrove at the moment, which is less than average for the rest of VIC.

On average over the past year, suburb has had 4.50 sales per month, which equates to 54 per year.

With the median price for a house in Millgrove being $290000 and the advertised rent reaching $290 the gross rental yield for property investors calculates out to be 5.20%

HOUSE UNIT
$290,000 N/A
-1.44% N/A
5.45% N/A
5.11% N/A
$290 N/A
54 N/A
5.20% N/A
50.34 N/A

Source: CoreLogic

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