mulgrave

3170, Victoria

Real Estate & Property Information

Median
Price Rank
227

mulgrave Suburb Profile & Review

Easy access to freeways makes living in Mulgrave very convenient. It takes only twenty-five minutes to reach the CBD on the Monash Freeway. Buses provide residents with their most immediate form of public transport, while the closest train stations are in Glen Waverley and Clayton. Following the completion of EastLink, travel to the rest of Melbourne and Victoria from Mulgrave is easier than it has ever been. The drive to Mornington, for example, takes only forty-five minutes. Due to its proximity to Clayton, Mulgrave is in a great location for students wishing to attend Monash University.

The Mulgrave Farmers' Market is held every Sunday at Jacksons Road and Wellington Road, providing residents with access to fresh and local produce. Waverley Gardens is a regional shopping centre in Mulgrave, with around 110 stores and a few supermarkets.

Waverley Park is the former AFL football stadium used by Hawthorn and St Kilda. Its surrounds have now been developed into a housing estate, and the remnants of the old stadium are being transformed into a state-of-the-art training facility.

mulgrave Demographic Data

$ 526,200 Median House Price

26 Minutes Average Commute

39 Median Age

17,647 Population

50.60 % Female

49.40 % Male

5109 NO OF FAMILIES

1.7 AVG CHILDREN PER FAMILY

0.9 AVG MOTOR VEHICLE PER DWELLING

What this means

The following data, without any explanation, is just that, raw data. So in order to help you research the property market, we have outlined what this demographic and real estate information means and how it can be interpreted to help you make a smarter decision when buying or selling your next house or unit in mulgrave, Victoria.

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mulgrave Demographic Data

The demographic data below has been supplied by the Australian Bureau of Statistics (ABS), which is a government body. It is based on Census data collected every 5 years on the Australian population. Although it is dated 2011, this is the latest data available and should give property investors, property buyers and sellers a very good idea when researching or reviewing their suburb.

It’s important to note when looking at this data that you don’t just use it on its own. Consider this demographic and real estate data as a whole and seek advice from a professional when thinking of buying or selling your next property.

mulgrave Median House Prices

  • 2008 $ 418,333
  • 2009 $ 458,575
  • 2010 $ 480,000
  • 2011 $ 555,000
  • 2012 $ 526,200

What this means

Median values are the most accepted measure of property values in the real estate industry in Australia. The median is the midpoint (the middle) figure when all the sold property prices over a particular period of time are ordered from their lowest to their highest value.

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mulgrave 5 Year Median House Prices

Here we have outlined the median value for all sales for each year over a period of 5 years. This is a more realistic timeframe when gauging how houses and units in mulgrave have performed, and it usually indicates how they will perform in the future.

Median values less than 3 months old are often not always accurate (due to incomplete data) and therefore cannot be relied upon for long-term mulgrave property price predictions.

mulgrave Market Property Types

  • 93 % Seperate House
  • 4 % Semi Detached
  • 2 % Flat or Unit
  • 0 % Other Dwelling

What this means

The property type in your suburb will help you identify the density of the area. The greater the number of flats, units and apartments, the more likely it is the suburb has a higher density of living and occupants are more reliant on public transport, cafes, restaurants, convenience stores and amenities, infrastructure and less reliant on their own vehicle for transport.

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mulgrave Market Property Types

Typically, inner city suburbs within 10km of the CBD are comprised of apartments and semi-detached homes, while middle ring suburbs have semi-detached and detached properties. Rural properties would most likely fall under the “other” category.

This ABS Property Type data combined with Population Density and Family Composition figures gives a good indication of the type of people living in an area and therefore what type of property (1-2 bed apartment or house) would be an ideal investment or property to live in.

mulgrave Income & Mortgage Stats

  • $ 1,347 Median Weekly Household Income
  • $ 1,950 Median Monthly Mortgage

What this means

This is one of the most compelling statistics in this section because it has a profound impact on real estate prices. It should always be considered when buying or selling property in mulgrave

Experts believe mortgage stress occurs in real estate when property owners are spending over 30% of their gross income on their mortgage repayments. These figures show weekly income and monthly mortgages.

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mulgrave Income & Mortgage Stats

To calculate the percentage of income paid towards a mortgage for the suburb of Melbourne, multiply the mortgage payment (e.g. $2450) by 12 then divide this figure by the weekly income (e.g. $1200) multiplied by 52 (weeks) to look like this ($2450 x12/$1200 x 52) x 100 = 47%

Any figure above 30% usually indicates that the suburb you intend to buy in may have property owners with a high incidence of mortgage stress. In terms of maintaining or growing property values in the future and trying to secure a strong property price when selling, this could have an impact, especially in an economic or local industry downturn.

mulgrave Sold Property Prices

mulgrave Real Estate Experts

In each suburb we have identified real estate agents who are active local experts. Our goal is to have a network of real estate agents that have been reviewed by previous clients for future buyers and sellers to rely on when making their next property move or even when they just wanting real estate advice.

mulgrave Related Local Blog Posts

Immigrants Are Pushing House Prices Higher

Much of Australia’s history and success has been built on the back immigration but are the current intake levels too high and how are they impacting prices?

Hangover Stock Brings About Buying Opportunities

This week Melbourne’s auction market has been tested with over 1200 properties reportedly going under the hammer over the weekend. Although both Domain and the REIV show clearance rates at nearly 70%, this on the surface seems good but in actual fact is 10% down for the same time last year. Speaking to a number of agents around town confirms….

Where is The Property Market Heading?

There has been a lot of “white noise” surrounding the Sydney and Melbourne property market over the last few months and it has taken me a while to determine which way things were actually going to go. Is the Australian property market heading down the gurgler or is this just a glitch?

Property Market Trends in Melbourne Which Could Affect Prices

In this final edition we look at what how the Melbourne property market has fared and what whether we are likely to see any changes in property prices, demand for property and economic drivers.

New Research Shows Consumers Who Don’t Own A Home Could Be Worse Off in Retirement

New Research released last week by Roy Morgan shows that people who don’t own a home have become worse off in terms of their net wealth and are jeopardising their retirement.

Is Australian Housing Heading for a Hard Landing or a Financial Cliff?

From my experience and talking with real estate agents the Melbourne market has softened no doubt, but are we heading towards a financial cliff?

mulgrave Restaurants

  • Village Green HotelCnr Springvale & Ferntree Gully Rdmulgrave VIC 317003 9560 8400
  • The Vale Hotel2277 Dandenong Roadmulgrave VIC 317003 9546 9666
  • The Last Piece7/2 Stadium Circuit mulgrave VIC 317003 9545 3040

mulgrave Cafes

  • Wicked Cafe and Foods7/270 Ferntree Gully Roadmulgrave VIC 317003 9501 2300
  • Michel's PatisserieKiosk 5, Waverly Gardens Shopping Centre/Jacksons Roadmulgrave VIC 317003 9547 6644
  • Podium Cafe690 Springvale Roadmulgrave VIC 317003 9560 4999

mulgrave Schools

  • Mazenod CollegeKernot Avenuemulgrave VIC 3170(03) 9560 0911Catholic Secondary School
  • St. John Vianneys Primary School17-23 Police Roadmulgrave VIC 3170(03) 9546 4161Catholic Primary School
  • Albany Rise Primary SchoolCnr Zita Street and Albany Drivemulgrave VIC 3170(03) 9547 1146State Primary School

mulgrave Childcare

  • Little Angels Child Care Centre39 Anora Crescentmulgrave VIC 3170
  • Love Kids Early Learning CentreWanda Stmulgrave VIC 3170
  • The Body Shop Childrens Centre1 Jacksons Roadmulgrave VIC 3170

mulgrave Kindergarten and Preschools

  • Mulgrave Park Kindergarten68 Albany Drivemulgrave VIC 3170
  • Waverley Foothills KindergartenGladeswood Drivemulgrave VIC 3170
  • Waverley Montessori Preschool2 Einstein Avenuemulgrave VIC 3170

mulgrave Sporting Centres and Clubs

  • Mulgravemulgrave VIC 3170Baseball Club
  • Mulgrave Country Club Wheelers Hillmulgrave VIC 3170Bowling Club
  • AFL Clubs, Hawthorn, Training & Administration Waverley Parkmulgrave VIC 3170Football Club

Find out How Much your House is Worth in mulgrave

Request a free market Basic Report for mulgrave to get a general idea of property prices in your area, or a more specific CMA Report for the property you own.

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