Mill Park
Regarded as one of the best suburbs northeast of Melbourne, Whittlesea City’s Mill Park is a high demand residential and commercial area that offers the best of both worlds.
Located some 18 kilometres northeast of the central business district, Mill Park is bounded by Plenty, Blossom Park, and Rivergum estates to the east, and Epping and South Morang to the north, Thomastown and Bundoora to the south and Lalor to the west.
With a population of 29,710 based on the 2016 Australian Bureau of Statistics census, Mill Park covers a land area of 13 square kilometres. Considered by many residents as an ideal place to call home with 8,194 families each with an average of one child per household.
Postcode 3082
Population 29,710
From CBD 18km
Mill Park comprises an equal share of the male (49.2%) and female (50.8%) population, with a median age of 37.
Commercially, Mill Park shows great promise as a potential investment option as a high demand real estate market based on a 12-month demand calculation of 1,721 average property listing visitations per month from August 2020 to July 2021, which is higher than the average for the entire Victoria area of 1,709 for the same period.
Median rent for houses is an average of $390 per week with a median rental yield of 3.27%, while the average time to sell a house or townhouse is 69 days at an average listing price of $420,000, which has grown to 10.52% during the previous year.
With an annual growth of 7% for residential properties, it’s not surprising to find Mill Park enjoying a robust economic environment with good proximity to public and private schools, shopping centres, recreational parks, and road networks.
Statistics sourced from https://en.wikipedia.org/wiki/Mill_Park,_Victoria