Mildura Research Factsheet 1st Half 2017

Mildura is solidifying its reputation as a regional Victoria growth area, with increasing house and vacant land prices and growing rental competition for both house and units.

Median price for houses was recorded at $272,500 in Q1 2017, reflecting an annual increase of 2.8%. Vacant land also showed improvement, with the median price for land increasing by 4.9% to $105,990; signifying Mildura as a sought after market by astute investors.

Meanwhile, rental competition is heating up in Mildura as average days listed decreased to a 12-month low of 24 days (house) and 23 days (unit). Mildura’s rental market responded to the increase in demand with a low vacancy rate of 1.5% and solid rental returns of 5.9% for both house and units.

Estimated development value for Mildura totals $247.2 M and contains a mix of infrastructure and commercial projects. These projects are aimed towards improving connectivity to Mildura and increasing business activity which will support future sustainable growth in this regional location.