Suburb Profile Report for Millgrove VIC (3799)

Millgrove House: Median price $420,000, Annual capital growth 6.86%, Number of sales 45, Weekly median advertised rent N/A

  • 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

Property investors who have had real estate in Millgrove, 3799 should be relatively pleased 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 2.69%

When looking at the potential capital gains offered to property investors over the last 3 years, Millgrove comes in at number 38th in VIC.

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.51% offered to property buyers. Sellers in Millgrove itself are offering an average vendor discount of -6.93% to real estate investors.

Metrics i HOUSE UNIT
$420,000 N/A
0.00% N/A
2.69% N/A
6.86% N/A
N/A N/A
45 N/A
N/A N/A
64.9756097560976 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), Above average (U)
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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