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Millgrove
AREA REPORTS

Millgrove

Millgrove - SUBURB PROFILE REPORT
POSTAL CODE: VIC, 3799

house

A 30.23% increase in median property prices in MILLGROVE, 3799 has allowed this suburb to join the ranks of best performing suburbs in VIC, settling at number 91st.

A steady increase in median property prices over a five-year period in the suburb translates to a 36.92% capital gain.

It also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $560,000

The augmented property values in the suburb are trailing above the territorial average of 18.09% in 2016.

Home owners selling their properties and realtors in MILLGROVE usually have to wait an average of 9.4 days days before their assets are lifted off the market.

The VIC suburb ranks 766th on the list of best yielding suburbs for rental properties in VIC, posting a 0% return.

It also places places 10th in Australia based on median property value growth during the quarter.

Data report can be found below

Millgrove
KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $560,000 N/A
GROWTH REPORT
Median Quarterly 15.46% N/A
Median 12 month 30.23% N/A
Median 3 years 36.92% N/A
Median 5 years 89.83% N/A
10 years average annual 9.21% N/A
Weekly media advert. rent N/A N/A
Time on Market 9.4 days N/A
Gross Rental Yield Percent N/A N/A
demographics (median values)*
Total Population
5798
Weekly Household Income
956
Household Size
2.30
Age
44
Monthly Loan Repayment
1300
* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.
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