Mildura Rural City, VIC

Mildura is a regional city of Victoria with a population of over 53,878. Mildura is located 475 kilometers north west of Melbourne, about half way between Adelaide and Melbourne. The city is famously known as a major horticultural centre notable for its grape production. It supplies 80% of Victoria’s grapes.

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The key industries within the LGA are dryland farming, irrigated horticulture (table grapes, wine grapes, dried grapes, citrus and vegetables), tourism, food and beverage manufacturing, transport and logistics, retail, health and community services

Professionals (15.8%), Managers (14.6%), Technicians and Trades Workers (13.5%), Labourers (13.4%), and Community and Personal Service Workers (11.4%) are the most frequent jobs in Mildura. Mildura’s typical weekly personal income for residents aged 15 years and older is $555.

In Mildura, 83.9 percent of occupied private residences are detached houses, 8.6 percent are semi-detached, row or terrace houses, townhouses, or other dwellings, 5.8 percent are flats or apartments, and 1.1 percent are other dwellings.

Discover the latest property market trends for Mildura suburbs via the interactive dashboard on this page.

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Capital Growth Heatmap

Property Market Snapshot

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

Buy 

2BR

3BR

4BR

5BR

Typical Price for houses in this council area. Percent changes indicate Year on Year growth or decline in house values. Council area house prices are calculated by averaging Typical Price of all suburbs within the area. Typical Price is a more accurate metric than Median Price.

Rent 

2BR

3BR

4BR

5BR

Median Weekly Rent for houses in this council area. Percent changes indicate Year on Year growth or decline in rental prices. Calculated via median value formula applied to rental prices from online listings.

Yield 

2BR

3BR

4BR

5BR

Yearly Gross Yield for houses in this council area. Calculated by multiplying the Median Rent by 52 and dividing the resulting value by Typical Price. Percent changes indicate Year on Year growth or decline in Gross Yield for houses.

Buy 

1BR

2BR

3BR

Typical Price for units in this council area. Percent changes indicate Year on Year growth or decline in unit values. Council area house prices are calculated by averaging Typical Price of all suburbs within the area. Typical Price is a more accurate metric than Median Price.

Rent 

1BR

2BR

3BR

Median Weekly Rent for units in this council area. Percent changes indicate Year on Year growth or decline in rental prices. Calculated via median value formula applied to rental prices from online listings.

Yield 

1BR

2BR

3BR

Yearly Gross Yield for units in this council area. Calculated by multiplying the Median Rent by 52 and dividing the resulting value by Typical Price. Percent changes indicate Year on Year growth or decline in Gross Yield for units.

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unit to houses pie charts
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Confidence: High, Medium, Low

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Property Market in Mildura Rural City, VIC

What other property markets are there near Mildura Rural City, VIC?

Mildura Rural City is surrounded by 4 other council areas – Buloke, West Wimmera, Hindmarsh, Yarriambiack.

Suburbs/localities in this Local Government Area: Hattah 3501, Iraak 3494, Irymple 3498, Koorlong 3501, Kulwin 3490, Lindsay Point 3496, Linga 3509, Merbein 3505, Merbein South 3505, Merbein West 3505, Meringur 3496, Merrinee 3496, Mildura 3500, Mittyack 3490, Murray-Sunset 3490, Murrayville 3512, Nangiloc 3494, Neds Corner 3496, Nichols Point 3501, Ouyen 3490, Panitya 3512, Red Cliffs 3496, Big Desert 3490, Birdwoodton 3505, Torrita 3490, Tutye 3490, Underbool 3509, Walpeup 3507, Wargan 3505, Boinka 3490, Werrimull 3496, Yelta 3505, Cabarita 3505, Cardross 3496, Carina 3512, Carwarp 3494, Colignan 3494, Cowangie 3506, Cullulleraine 3496

1 thought on “Mildura Rural City, VIC”

  1. Compared to the national average, there is greater buyer demand for houses in Mildura Rural City compared to units. Across Mildura Rural City, the greatest demand is for three and four bedroom houses, with two and three bedroom units and three bedroom semi-detached houses making up only a small portion of the demand profile in the area.

    Three bedroom homes makeup the largest demand sector of the market in Mildura Rural City. As of Q2 2020 the rental gross yield for houses and units is 4.92% and 6.6% respectively.

    How do Mildura Rural City houses & units compare to neighbouring LGAs? According to HtAG property market data, the median house price in Mildura Rural City is A$305,316 with a -$162,000 to +$81,000 variance compared to the neighbouring LGAs. Wentworth Shire Council has a higher median house price, while Hindmarsh Shire and Yarriambiack Shire are sharply lower than Mildura Rural City.

    Wentworth Shire Council: A$386,635
    Renmark Paringa Council: A$382,296
    Swan Hill Rural City: A$316,015
    Mildura Rural City: A$305,316
    The DC of Loxton Waikerie: A$254,449
    Hindmarsh Shire: A$143,496
    Yarriambiack Shire: A$109,712

    House prices in Mildura Rural City have started 2020 strongly, increasing 4.09% as shown on the heat map. In comparison 2 of the remaining 6 neighbouring LGAs exhibited positive growth above 4%, with Wentworth Shire Council being the strongest performer in the area with 5.32%.

    Wentworth Shire Council: 5.32%
    Yarriambiack Shire: 4.85%
    Mildura Rural City: 4.09%
    The DC of Loxton Waikerie: 2.01%
    Renmark Paringa Council: 1.67%
    Swan Hill Rural City: 0.54%
    Hindmarsh Shire: -0.99%

    The unit market in Mildura Rural City is limited compared to the house market, with units priced at a median value of A$184,715.

    Swan Hill Rural City: A$226,386
    Mildura Rural City: A$184,715

    Unit prices in Mildura Rural City have seen very strong growth in 2020 with a 6.47% increase.

    Mildura Rural City is 6.47%
    Swan Hill Rural City: 1.90%

    Property Market Forecast for Mildura Rural City Houses. HtAG property market data for Mildura Rural City shows that sales volume for houses had been steadily decreasing since Q3 2016 where they peaked.

    Sales volumes have been averaging 150 transactions each quarter since their bottom in Q2 2019. Rental volumes have been mostly flat since Q1 2015. Median house prices have been consistently increasing since 2008 reaching A$310,000 as of Q2 2020. HtAG forecasts show that median values are expected to move slightly higher to A$320,000 into Q2 2022.

    The median value of 2, 3 and 4 bed houses had been rising steadily since 2008. Median values currently sit at A$210,000, A$280,000 and A$420,000 respectively. Median rents have increased steadily since 2008 but had small dips in 2011 and 2014 and currently sit at A$290. The median rental price of 2, 3 and 4 bed houses is A$240, A$300 and $310 respectively.

    HtAG forecasts that the median rental value is expected to remain steady at A$300 into Q2 2022.The market cycle graph for Mildura Rural City highlights a considerable change in median price over the last 12 years since 2008. Growth is currently at 4.09% and is declining. In 2015, growth had been as high as 8.72%, with the prior peak in 2010 at 2.4%. There were two previous dips that saw growth fall to 1.54% in 2012 and 3.8% in 2013 and 2018.

    According to HtAG forecasts, growth rates will continue lower into 2021 and 2022 reaching 2.05% in 2022. Currently house prices are at approximately 5 o’clock on the property clock as the growth cycle slows (declining).

    Suburb Capital Growth and Price Variance Heatmaps for Houses in Mildura Rural City. The heatmap above represents median price growth in this LGA on an annual basis. The green areas show a percentage increase ranging from 9%-11% with the highest growth in the suburb of Red Cliffs (10.82%), Irymple (9.04%) and Merebein (5.67%). Mildura houses grew in value in 2020 by 5.76% to A$315,953

    The scatter plot above shows all the individual sales over the past year and their concentration in the LGA. Mildura and Irymple are the higher end suburbs where most of the sales in the A$500,000-A$600,000 range occurred. Sales in the range of A$100,000-A$300,000 have been Red Cliffs. Sales volumes have been consistent across Mildura and Irymple.

    The median price for units in Mildura Rural City is significantly lower than the median price for houses. Units had a median price of A$180,000 in the second quarter of 2020. Overall, the trend in median prices has been continually increasing since 2008.

    The trend is very different with rental prices for units where they have seen two price peaks in 2016 and 2018. The maximum median rent was A$230 where it sits currently, while the lowest level was A$120 per week in Q4 2010.

    Sales volumes have been relatively consistent with 10 transactions on average. According to market forecasts by HtAG, the median price of units will increase headed into Q2 2022, to A$200,000 from the current value of A$180,000. By Q2 2022, it is forecast that the median rent will increase to A$250 per week from the current value of A$230.

    Property Cycle Position of Mildura Rural City Units. Market cycle graph for Mildura Rural City units above shows that prices increased significantly in 2013 (5.3%) and 2018 (7.26%) as well as seeing further growth into 2020, where the growth rate looks to have peaked at 6.47%. The growth rate fell to 1.77% in 2015.

    According to HtAG forecasts, that growth in unit values will continue to slow to 4.48% into 2021. According to the HtAG forecast, median prices for units in this LGA are starting to slow down after a strong run of increasing capital growth and would be approximately 12 o’clock on the property clock (peak).

    The heatmap above represents median price growth in this LGA on an annual basis for units in Mildura Rural City in 2020. Mildura units grew in value in 2020 by 7.57% to A$190,607

    However, we must note there have only been 4 sales in the unit market. Looking at the scatter plot, there are far fewer unit sales in this LGA compared to houses. Sales are evenly distributed around Mildura, with prices in the A$120,000 to A$180,000 range.

    Mildura Rural City appears to be coming into a period of strong returns, with a number of suburbs within the LGA set for solid growth headed into 2022. That said the LGA is assessed at being at its peak for houses.

    Over the next two years, HtAG forecasts Mildura houses to grow by +7.32% (to A$339,093) by Q2 2022 which is assessed as high confidence due to the strong sales volumes (15) in the quarter. Mildura is assessed as being at the peak of the market.

    Merbein is also predicted to grow strongly by +14.92% (to A$270,531) by Q2 2022 and is assessed as having medium confidence based on 12 sales. Merbein is assessed as a rising market.

    Red Cliffs is predicted to grow strongly by +7.76% (to A$327,007) by Q2 2022 and is also assessed as having medium confidence based on 16 sales. Red Cliffs is assessed as being at the peak of the market.

    Irymple is predicted to see strong growth of +6.82% (to A$447,908) by Q2 2022 and is assessed as having medium confidence based on 4 sales. Irymple is assessed as being at the peak of the market.

    The suburbs that are expected to show the strongest rental yields by Q1 2022 are Ouyen (7.42%), Merbein (5.77%), and Mildura (5.43%).

    For the unit market, the suburb of Mildura is predicted to grow at +5.93% (to A$201,905) by Q2 2022, with medium confidence based on 4 sales data. Yields for Mildura units are forecasted to be 7.24% in Q2 2022.

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