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McMillans, VIC 3568
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$695,000
Median Unit
$375,000
list-price estimate
Gross Yield (houses)
2.9%
1yr Growth
-
Investment snapshot for McMillans
McMillans has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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McMillans market and investor summary
McMillans (VIC 3568) runs a median house price of $695K, with houses yielding a gross 2.9%. At 3.1% vacancy, it is a softer rental market with more choice for tenants.
For an investor, this reads as a capital-growth market more than a cashflow one. A gross house yield around 2.9% will not cover holding costs in the early years, so the case leans on price appreciation. Houses also take time to sell, around 68 days on market, so plan for a slower exit if you ever need one.
Living in McMillans: people, income and schools
About 87 people live in McMillans, a number that has held fairly steady over five years. The median age is 56, an older, established demographic, and families account for 59% of households.
Households here earn a median of about $60,000 a year, or roughly $1,160 a week. On socio-economic measures it ranks toward the more disadvantaged end of the ABS advantage index (3 out of 10). At current prices a median house runs to a steep 11.6 times local household income, so affordability is a genuine constraint on local buyers.
Fixed broadband is delivered over the NBN's Fixed Wireless.
- Population
- 87
- -2% over 5yr
- Median age
- 56 years
- Median household income
- $60,000/yr
- Households renting
- 33%
- Family households
- 59%
- Socio-economic rank
- 3/10
- ABS advantage index
- Unemployment
- 1.7%
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in McMillans
No properties currently listed in McMillans
Search McMillans listings →Frequently asked questions about McMillans
What should I check before investing in McMillans?
McMillans has enough public data for first-pass screening across yield, vacancy, price and supply signals. Use the available metrics below to compare it with nearby suburbs before relying on the suburb-level view.
What are typical property prices in McMillans?
The median property price in McMillans, VIC 3568 is $695K for houses.
What rental yield does McMillans show?
The gross rental yield in McMillans is 2.9% for houses. Gross yield is calculated as annual rent divided by property price, and it doesn't account for expenses or tax.
How tight is the rental market in McMillans?
The current vacancy rate in McMillans is 3.1%. A rate under 2% generally signals a tight rental market. This suburb's rental market is softer, with tenants having more choice and rents possibly under pressure.
How many people live in McMillans?
McMillans has a population of approximately 87 residents, with a median age of 56.
Is McMillans affordable to buy in?
A median house in McMillans costs about 11.6 times the median local household income (a high multiple that makes the suburb a stretch for median local earners). The ratio compares the median house price with annual household income; it is a rough affordability gauge, not a substitute for your own borrowing assessment.
Is McMillans's population growing?
The population of McMillans has fallen about 2% over five years. Population growth feeds underlying housing demand, so it is worth weighing alongside price and yield.
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