Suburb Profile Report for Millgrove VIC (3799)

Millgrove House: Median price $293,500, Annual capital growth 5.40%, Number of sales 50, Weekly median advertised rent $288

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

Source: CoreLogic

  • House Report

Investment property in Millgrove 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 9.51%

When looking at the potential capital gains offered to property investors over the last 3 years, Millgrove comes in at number 323th in VIC.

LACK OF BUYER INTEREST may well be the reason that Millgrove is offering property investors an average of -5.99. This rate of discount on properties puts Suburb at number 456th in terms of most discounted suburbs in VIC

At number 776 in a list of fastest selling suburbs, Millgrove is in the TOP 30% of suburbs in Australia with an average of days on market 55.4 for properties listed there.

Millgrove is 106th on a list of best yielding suburbs for rents in VIC with a 5.09% return

HOUSE UNIT
$293,500 N/A
0.31% N/A
9.51% N/A
5.40% N/A
$288 N/A
50 N/A
5.09% N/A
55.4 N/A

Source: CoreLogic

DSR Score for property investment : Very 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
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Recent sales & rentals