Mildura suburb profile
Mildura is a vibrant regional city located in the northwest of Victoria, renowned for its sunny climate and rich agricultural heritage. Situated on the banks of the Murray River, it serves as a major hub for the surrounding agricultural region, particularly known for its grape and citrus production. Mildura offers a blend of urban amenities and natural beauty, with a thriving arts scene, diverse dining options, and numerous outdoor activities. The city's proximity to the river provides opportunities for water sports and leisure, making it a popular destination for both residents and tourists seeking a relaxed yet active lifestyle.
Mildura property market performance
Mildura’s property market has shown modest growth over the past 12 months, with house values increasing by 3.4% and unit values rising by 2.1%. The median house price currently stands at $479,000, while the median unit price is $334,000, indicating steady demand across both property types.
Sales activity has been robust, with 190 houses and 40 units sold over the last 12 months. Properties are moving relatively quickly, with houses spending a median of 26 days on the market and units 28 days, reflecting a healthy market pace.
The rental market in Mildura has experienced significant growth, with house rents increasing by 12.9% and unit rents by 8.8% over the past year. The average rent for houses is now $480, while units average $370, highlighting strong rental demand in the area.
Median price - houses$479KPast 3 months
Median price - units$334KPast 3 months
Change in value - houses3.4%12 months
Change in value - units2.1%12 months
Houses sold190Past 3 months
Units sold40Past 3 months
Median DOM - houses26Past 12 months
Median DOM - units28Past 12 months
Average rent - houses$480Past 12 months
Average rent - units$370Past 12 months
Change in rent - houses12.9%Past 12 months
Change in rent - units8.8%Past 12 months
Mildura demographics
Mildura, located in the north-western part of Victoria, is a regional city known for its warm climate, vibrant agricultural industry, and scenic views along the Murray River. With a population of 34,565, Mildura offers a blend of urban and rural lifestyles, attracting families, retirees, and professionals seeking a relaxed yet connected community. The median age of 39 reflects a balanced demographic, with a mix of young families and older residents enjoying the area's natural beauty and community amenities.
Housing in Mildura is diverse, with a significant portion of properties being owned outright (31.4%) or with a mortgage (30.1%), indicating a stable housing market with opportunities for both long-term residents and new buyers. The rental market, comprising 38.5% of properties, caters to those seeking flexibility, including young professionals and families. The suburb's family-oriented environment is evident, with 35.7% of households being couple families with children and 41.0% being couple families without children, highlighting its appeal to a wide range of family structures.
Mildura's economy is supported by its strong agricultural sector, particularly in grape and citrus production, as well as tourism, which benefits from the region's natural attractions and cultural events. The community's diverse family composition, with 21.5% of households being one-parent families, underscores the suburb's inclusive nature. Mildura's combination of affordable living, employment opportunities, and a welcoming community makes it an attractive destination for those seeking a balanced lifestyle in a picturesque setting.
Mildura infrastructure, key developments and investment opportunities
Mildura is experiencing significant developments that could impact its property market. The city's central business district is undergoing revitalization, with the pedestrian mall on Langtree Avenue becoming a vibrant shopping and dining precinct. This enhancement of urban amenities could increase the appeal of properties in the city center. Additionally, the ongoing expansion of Mildura Airport, which is the busiest regional airport in Victoria, is likely to improve connectivity and potentially boost property values in surrounding areas.
Infrastructure improvements are also noteworthy, with recent upgrades to the Mildura Base Public Hospital enhancing healthcare services for residents. The city's focus on developing its horticultural industry, particularly in grape production and wine-making, continues to drive economic growth and employment opportunities. These factors, combined with Mildura's Mediterranean climate and proximity to the Murray River, are likely to sustain strong interest in the local property market, especially among those seeking a balance between regional living and urban conveniences.
Mildura rental market trends
The rental market in Mildura has experienced notable growth, with house rents increasing 12.9% over the past year to $480 per week, while unit rents have risen 8.8% to $370 per week. With its appealing lifestyle and ongoing development, Mildura continues to attract both renters and investors seeking promising returns in a vibrant regional setting.
Suburbs near Mildura
Some popular suburbs near Mildura include: