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Mulgrave, VIC 3170

Home » VIC Real Estate Data » Monash City, VIC » Mulgrave, VIC 3170

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Mulgrave, VIC 3170 located in Melbourne to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

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Rent 

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Yield 

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Buy 

1BR

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Rent 

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Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Mulgrave, VIC 3170”

  1. The total adult population (15 years or older) of Mulgrave 3170 VIC is 16,370, with a median age of 40. Of those, 54.71% are married, 8.59% are divorced or separated, 30.83% are single and 5.85% are widowed.

    The average household size is 2.8 people per dwelling, and the median household monthly income is estimated to be $8,536. The median monthly mortgage repayment for households in this suburb is $2,167 which is 25.39% of their earnings.

    Source: ABS Census Data (2021)

  2. Located in Victoria, the suburb of MULGRAVE 3170 encapsulates approximately 8776 households. As of the third quarter of 2023, the housing market in MULGRAVE demonstrates a typical property price of $974,911. Homes in this suburb are being rented out at a median weekly rent of $550, equating to an indicative yield of 2.93%, just below the 3% minimum market attractiveness for cashflow-focused property investors.

    The socio-economic standing of the suburb reflects a solid IRSAD score of 1043 out of 1217, indicating a relatively positive socio-economic status amongst its residents. The renter to owner ratio is at 22%, which leans to a more homeowner populated suburb, a scenario often better for long-term return stability.

    Talking about property types, houses reign supreme in MULGRAVE with a units to houses ratio of just 9%, evidencing a desirable low level of competition among landlords. The current affordability index for houses in MULGRAVE stands at 45 years. This suggests that, under the assumption of a standard 30-year mortgage, residences are relatively less affordable in comparison to areas with an index of 30 years or less.

    Delving into supply metrics, the stock on market Percentage for houses notes a very low figure of 0.14% indicating a favourable market with low supply. This is further confirmed by an equally low inventory level of 0.6 months. While building approvals ratio for houses is moderate at 0.77%, not indicating an over-supply of new dwellings.

    Adding to the appealing nature of the MULGRAVE market, the average number of days on the market for houses is a mere 24 days, indicating high demand amongst potential homeowners. In support of this, MULGRAVE’s vacancy rate, for both houses and units combined, is at a low 1.12%, denoting high demand. However, the buy search index for houses is standing at 3 which suggests a limited, but existing, demand for purchasing properties in this area.

    In conclusion, while the affordability index and yield may seem initially unattractive, the stability of a homeowner-dominated suburb with low instances of rental competition, positive socio-economic scoring and a notably high appeal to homeowners presents opportunity for long-term investment in MULGRAVE 3170. As always, anticipating and observing market trends alongside utilising tools such as HtAG Analytics’ RCS can significantly aid in deciphering the best investment decisions.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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