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Millars Well, WA 6714
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$685,000
market range $650K-$775K
Median Unit
$520,000
market range $475K-$550K
Gross Yield (units)
10.5%
1yr Growth (houses)
+23.8%
market range +15.0% to +27.5%
Investment snapshot for Millars Well
Millars Well has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Millars Well market and investor summary
Millars Well (WA 6714) runs a median house price of $685K. House prices have moved +23.8% over the past year and +47.3% over three years. At 0.7% vacancy, it is a tight rental market that favours landlords.
Rental demand looks steady, with vacancy at 0.7% and a resident base that is not shrinking.
Living in Millars Well: people, income and schools
Millars Well is home to around 2,104 people, and the area has been growing steadily, up about 11% over five years. The median age is 31, younger than the national median, with renters making up 61% of households. That renter share gives landlords a deep tenant pool to draw on through the year.
Households here earn a median of about $166,000 a year, or roughly $3,190 a week. On socio-economic measures it ranks among the most advantaged in the country (9 out of 10 on the ABS advantage index). At current prices a median house runs to roughly 4.1 times local household income, leaving more headroom than most capital-city markets. Incomes have risen about 19% over five years, which tends to underpin what local buyers can pay.
There are 8 schools within about 5km, testing below the national school average on ICSEA. It is fairly car-dependent; the suburb scores 5 for walkability out of 100. Fixed broadband is delivered over the NBN's Fibre to the Node.
- Population
- 2,104
- +11% over 5yr
- Median age
- 31 years
- Median household income
- $166,000/yr
- Households renting
- 61%
- Family households
- 76%
- Socio-economic rank
- 9/10
- ABS advantage index
- Schools within 5km
- 8
- avg ICSEA 917
- Unemployment
- 1.9%
- Walk score
- 5/100
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Millars Well
No properties currently listed in Millars Well
Search Millars Well listings →Frequently asked questions about Millars Well
What should I check before investing in Millars Well?
Millars Well has enough public data for first-pass screening across yield, vacancy, price and supply signals. Strong unit gross rental yield of 10.5%, before expenses, tax and loan costs. Capital growth of +23.8% in the past year shows strong recent price momentum. Compare those signals with nearby suburbs and individual listings before relying on the suburb-level view.
What are typical property prices in Millars Well?
The median property price in Millars Well, WA 6714 is $685K for houses and $520K for units.
What rental yield does Millars Well show?
The gross rental yield in Millars Well is 10.5% for units. Gross yield is calculated as annual rent divided by property price, and it doesn't account for expenses or tax.
What does recent house price growth show for Millars Well?
House prices in Millars Well are up 23.8% over the past year and up 47.3% over three years. Capital growth is a key driver of total investment return, so pair it with rental yield to get a full picture.
How tight is the rental market in Millars Well?
The current vacancy rate in Millars Well is 0.7%. A rate under 2% generally signals a tight rental market. This suburb's rental market is very tight, with landlords typically holding strong bargaining power and low rental downtime.
How many people live in Millars Well?
Millars Well has a population of approximately 2,104 residents, with a median age of 31.
What schools are near Millars Well?
There are 8 schools within roughly 5km of Millars Well. Their average ICSEA is below the national mean of 1000. ICSEA is the ABS measure of a school community's socio-educational advantage.
Is Millars Well affordable to buy in?
A median house in Millars Well costs about 4.1 times the median local household income (more affordable than most capital-city markets). 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 Millars Well's population growing?
The population of Millars Well has grown about 11% over the past five years, an above-average pace. Population growth feeds underlying housing demand, so it is worth weighing alongside price and yield.
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