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Mulwala suburb profile

Mulwala sits on the southern bank of the Murray River and curves around Lake Mulwala, so the town’s character is defined by boating, fishing and lakeside recreation. A bridge links it to Yarrawonga across the river and residents and visitors mix easily between the two towns. The population is a blend of permanent locals, holiday homeowners and seasonal visitors, with lifestyle focused on water sports, caravan parks, pubs and relaxed café life. Housing includes older weatherboard cottages, modest suburban homes and waterfront holiday properties, while surrounding irrigated farmland keeps a practical agricultural edge to the local economy.

Mulwala property market performance

Current median dwelling price$488,750Past 3 months

Property growth+5.0%Past 12 months

Mulwala has relatively few recent property sales, so there isn't enough recent data to publish a reliable median price for houses or units. Available figures show house values have risen strongly, up 11.2% over the last 12 months, while unit values fell marginally, down 1.3%.

Over the last 3 months there were 9 house sales and 4 unit sales. Houses sold in a median of 95 days over the last 12 months, while units sold in a median of 78 days, so units sold faster than houses.

The rental market in Mulwala recorded average house rents of $530 and unit rents of $380 over the last 12 months. House rents rose a solid 9.7% and unit rents rose strongly, up 10.1% over the last 12 months, so both grew at a similar pace.

HousesUnits
Median price
Past 3 months
N/AN/A
Change in value
Past 12 months
11.2%-1.3%
Sold
Past 3 months
94
Median days on market
Past 12 months
9578
Average rent
Past 12 months
$530$380
Change in rent
Past 12 months
9.7%10.1%

5 year median price trend for houses and units

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Mulwala demographics

A community of 2,557 people has a median age of 53 and a median total household income of $1,185 a week, roughly $61,620 a year.

The family mix is dominated by couples. Couple families without children are the largest group at 57.6%, while couple families with children make up 31.4%. One-parent families account for 10.6% and other families 0.4%. Together the two couple categories represent about 89.0% of reported families.

Homes in Mulwala are predominantly owner-occupied: 47.9% are owned outright and 32.6% are owned with a mortgage, combining to 80.5% owner-occupied, while 19.5% of homes are rented.

Suburbs near Mulwala

Some popular suburbs near Mulwala include:

  • Yarrawonga: Lakeside regional centre beside Lake Mulwala and the Murray River.
  • Barooga: Quiet riverside village beside the Murray with leafy streets.
  • Cobram: Service town along the Murray River with extensive orchard country.
  • Corowa: Historic town with a popular riverfront and period buildings.
  • Wahgunyah: Small town beside the Murray and close to the Rutherglen wine region.

How does Mulwala compare to nearby suburbs?

  • Median house prices: Mulwala’s median house price is 16.3% higher than Yarrawonga’s.
  • Median unit prices: Mulwala’s median unit price is 12.1% higher than Yarrawonga’s.
  • House price growth: Over the past 12 months, house prices in Mulwala have grown 1.4% higher than in Yarrawonga.
  • Unit price growth: Over the past 12 months, unit prices in Mulwala have grown 4.7% higher than in Yarrawonga.
  • Selling speed for houses: Properties in Mulwala are selling 3.1% faster than in Yarrawonga.
  • Selling speed for units: Properties in Mulwala are selling 27.1% faster than in Yarrawonga.

Choose the right real estate agents in Mulwala

Choosing the right real estate agent in Mulwala can have a big impact on your sale. While there are 13 real estate agents working in the suburb, but just 5 of them were responsible for 75.6% of all property sales over the past year, showing a strong footprint and track record in the area.

Commission rates typically range from 2% to 3%, depending on the agent and what’s included. Comparing both performance and fee structures can help you find someone who's well-suited to your needs, and set them up for a successful result.

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