Mulgrave

POSTAL CODE: VIC, 3170
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A steady increase in median property prices over a five-year period in the suburb translates to a 12.54% capital gain.

It also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $1,125,444

The augmented property values in the suburb are trailing above the territorial average of 2.91% in 2016.

On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $650.

Home owners selling their properties and realtors in MULGRAVE usually have to wait an average of 39.5 days days before their assets are lifted off the market.

The VIC suburb ranks 418th on the list of best yielding suburbs for rental properties in VIC, posting a 3% return.

It also places places 287th in Australia based on median property value growth during the quarter.

Surburb overview

Mulgrave is a middle-ring suburb in Melbourne’s south-east, located within the City of Monash. The suburb is situated approximately 21 kilometres south-east of the Melbourne central business district and is bordered by Wheelers Hill, Springvale, Clayton and Notting Hill.

Mulgrave recorded a population of around 19,000 residents at the 2021 census, reflecting its role as a well-established residential suburb with significant employment activity. The demographic profile includes a high proportion of family households, with a median age above the metropolitan average and relatively high rates of home ownership.

Household incomes are generally above the Melbourne median, reflecting stable employment and long-term settlement patterns. Housing in Mulgrave is predominantly detached dwellings on traditional suburban blocks, alongside some townhouse development and limited low-rise apartment construction. Residential density remains low to moderate, with established streetscapes and gradual infill development near major roads.

Public transport access is primarily bus-based, with no railway station located within Mulgrave itself. Residents typically access train services at nearby stations, including Glen Waverley, Springvale and Clayton, which connect to the metropolitan rail network. Bus routes operate along Wellington Road, Springvale Road and Ferntree Gully Road, providing links to surrounding suburbs, shopping centres and employment precincts. 

Road connectivity is a defining feature, with the Monash Freeway forming the suburb’s northern boundary and providing direct access to the Melbourne CBD and south-eastern corridor. Additional arterial roads such as Springvale Road and Blackburn Road support north–south and east–west travel but experience peak-hour congestion.

Mulgrave contains significant industrial, commercial and business parks, particularly along Wellington Road, which contribute to local employment. These precincts host offices, manufacturing facilities, warehouses and technology-focused businesses. Local retail and service amenities are distributed across neighbourhood shopping centres, which include supermarkets, cafés, medical clinics, and everyday services. Larger retail and employment hubs, including Chadstone Shopping Centre and Glen Waverley, are accessible by road.

Educational facilities in and around Mulgrave include several primary and secondary schools, with tertiary institutions such as Monash University located nearby.
Recreational amenities include Waverley Park precincts, local reserves and sporting grounds that support organised sport and community recreation. Shared walking and cycling paths connect residential areas with parks and neighbouring suburbs.

Mulgrave’s character is shaped by its family-oriented housing, strong road connectivity and concentration of employment precincts within Melbourne’s south-east.

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