Suburb Profile Report for Millbank QLD (4670)

Millbank House: Median price $222,500, Annual capital growth -0.31%, Number of sales 42, Weekly median advertised rent $290

Millbank Unit: Median price $242,000, Annual capital growth 1.39%, Number of sales 11, Weekly median advertised rent $270

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

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report

Over the last year, property investments in Millbank, 4670 have given investors a capital gain of -8.25%. This compares very badly with the 1.17% for QLD as a whole.

Over the longer term, Millbank has seen property prices show investors a -7.78% return over the last 3 years. This is worse than over the last 12 months

Sellers are offering property buyers an average discount of -8.10% to buyers in Millbank at the moment, which is less than average for the rest of QLD.

In the last year 42 properties changed hands in Millbank, which puts it as the 503th most active market in QLD when comparing the number of sales per suburb.

With the median price for a house in Millbank being $222500 and the advertised rent reaching $290 the gross rental yield for property investors calculates out to be 6.78%

Metrics i HOUSE UNIT
$222,500 $242,000
-4.30% 0.00%
-8.25% N/A
-0.31% 1.39%
$290 $270
42 11
6.78% 5.80%
99.972972972973 N/A

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Balanced (U)
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Demographics
Total population 2601
Median household income ($/weekly) 784
Median age of persons 45
Median housing loan repayment ($/monthly) 1300
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 293 11.3
    35-44 years 275 10.6
    45-54 years 271 10.4
    55-64 years 353 13.6
    65-74 years 325 12.5
    Others 1084 41.7
    Age Group
    Census Count Percent(%)
    Not Married 810 46.2
    Registered Married 771 43.9
    Defacto Relationship 174 9.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 2125 90.1
    Indonesia 11 0.5
    Papua New Guinea 36 1.5
    United Kingdom 64 2.7
    Other 42 1.8
    Others 81 3.4
    Country of Birth
    Census Count Percent(%)
    Buddhism 23 1.0
    Christianity 1685 75.5
    Hinduism 20 0.9
    Islam 13 0.6
    No Religion 486 21.8
    Others 6 0.3
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 174 20.4
    $600-$799 124 14.5
    $800-$999 84 9.8
    $1,000-$1,249 80 9.4
    $1,500-$1,999 77 9.0
    Others 314 36.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 989 50.7
    Employed, worked full-time 528 27.0
    Employed, worked part-time 287 14.7
    Unemployed, looking for work 87 4.5
    Employed, away from work 61 3.1
    Person Characteristics
  • Census Count Percent(%)
    Professionals 148 16.9
    Technicians & trades workers 124 14.1
    Community & personal service workers 98 11.2
    Clerical & administrative workers 117 13.3
    Labourers 138 15.7
    Others 252 28.7
    Occupation
    Census Count Percent(%)
    Pre-school 20 4.7
    Infants/Primary 179 42.4
    Secondary 118 28.0
    Technical or Further Educational Institution 35 8.3
    University or other Tertiary Institutions 51 12.1
    Others 19 4.5
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1836 83.0
    Semi-detached, row or terrace house, townhouse 284 12.8
    Flat, unit or apartment 56 2.5
    Caravan, cabin, houseboat 31 1.4
    House or flat attached to a shop, office 4 0.2
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 347 36.6
    Fully owned 341 36.0
    Being purchased 252 26.6
    Other tenure type 8 0.8
    Tenure Type
Census 2011, ABS
Chart Table