Get a property report and suburb profile for any property in Mulgrave

Mulgrave is a well-established south-east Melbourne suburb with quiet residential streets and pockets of commercial and light industrial activity, giving it a practical, lived-in character. Housing ranges from weatherboard cottages and single-fronted brick family homes to newer townhouses, and the area is anchored by local parks and sporting reserves. Day-to-day shopping sits along the main road corridors, and public buses, nearby train stations and access to the Monash Freeway and Eastlink keep Mulgrave connected to surrounding employment and education precincts.

The community of 19,889 has a median age of 40 and is dominated by families, with couple families with and without children together accounting for just over eight in ten households. Owner-occupiers make up 77.0% of homes and renters 23.0%. Council approval for a hospital expansion, a completed sports pavilion upgrade and a child and family hub, plus planned playspace and trail works, point to ongoing local investment. Whether Mulgrave suits you will depend on the household type and the importance you place on parks and transport links.

Buying in Mulgrave sits well above what local households earned at the last Census. A median house price of $1,050,000 works out to about 10.6 times a typical local annual household income at the last Census (weekly household income $1,913 × 52 = $99,476). Renting takes a sizeable share of that local weekly income: a house at $690 a week is about 36.1% of the typical local household's weekly income, and a unit at $595 a week is about 31.1%. On these figures, renting looks less stretched than buying, though both rents take a sizeable share of a typical local household's income at the last Census.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

The standout in Mulgrave over the past year was the unit market: median unit values climbed 11.8% and unit rents rose a solid 8.2%. By comparison, median house values increased a more modest 4.2%, while house rents were up 6.2%.

For someone focused on capital growth, the figures show units delivered the larger price rise over the year; for rental income, unit rents also grew faster than house rents, though both property types saw rent increases. Whether that balance suits your needs depends on your own goals and circumstances.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.