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Mill Park

POSTAL CODE: VIC, 3082
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Property investors enjoyed capital gains of 7.24% over the last 12 months in MILL PARK, translating to lower returns compared with its peers in VIC.

A survey of average capital gains or median home price increase in suburbs across the country shows that the VIC suburb obtained a 6.01% growth over a ten-year period. It ranks 2687th on our list of suburbs that property investors should look into.

MILL PARK, 3082 has a capital gain of 7.24% for the past year, which is higher than average compared to its 22.07% growth within a five-year period.

With the median home price in MILL PARK sitting at $842,863, and the average rent at $550, property owners could potentially earn a 3.39% increase in gross rental yield.

Figures from the previous quarter show that capital gains for real estate buyers in MILL PARK are low, as opposed to average gains per annum over the past five years.

MILL PARK, 3082 in VIC belongs to the local government area of Whittlesea.

Surburb overview

Mill Park is a suburb of Whittlesea, Victoria, located approximately 18 kilometres northeast of Melbourne's Central Business District. As of the 2021 census, it had 28,712 residents.

The suburb is primarily residential, featuring various housing styles, including modern developments and established homes. Mill Park is known for its family-friendly environment, with numerous parks and recreational facilities.

Public transportation in Mill Park is well-developed. Several bus routes provide access to Melbourne's city centre and surrounding areas. The nearby South Morang railway station on the Mernda line also offers further connectivity.

Several parks and green spaces offer abundant recreational opportunities. The Mill Park All Abilities Play Space, and Splash Park offers inclusive play equipment and water features for children of all abilities.

Mill Park offers a range of housing options. Compared to other areas of Melbourne, the suburb is known for its affordability, making it attractive to families and first-time homebuyers.

Mill Park combines residential comfort, accessible amenities, and recreational facilities, contributing to its appeal as a suburb in Melbourne's northeastern corridor.

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