Mill Park

Mill Park, VIC 3082 is a vibrant suburb with a population of 28,712. The majority of residents fall within the age groups of 20-34 and 45-64 years. The suburb has a low social housing ratio of 1.8% and offers a good balance of occupation types, with a notable number of professionals, managers, and technicians/tradeworkers. Commute options include a significant proportion of residents working from home. The suburb's educational advantage, as indicated by the ICSEA Percentile for Government Schools, is 60.4. For house investors, Mill Park presents a solid opportunity with a moderate yield and rental demand. The sale price IQR ratio of 22.0% suggests potential for renovations and value-add opportunities. On the other hand, units in the suburb offer a higher yield, lower vacancy rate, and a significant market absorption rate of 62.5%, indicating strong demand. The discounted median percentage for units is relatively low. Both houses and units in Mill Park show positive growth trends over the past years. Mill Park, VIC 3082 is a diverse suburb that caters well to both homeowners and investors. With a mix of affordable housing options, strong rental demand, and opportunities for growth, it presents a promising market for property investment. The suburb's population demographics and educational advantage further contribute to its appeal for families and professionals alike. Sources: - proptechdata.com.au - Australian Bureau of Statistics (ABS) Census 2021 - Australian Curriculum, Assessment and Reporting Authority (ACARA) School Profiles 2022