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Millfield, NSW 2325
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$1,115,000
market range $1.1M-$1.2M
Median Unit
$465,000
Gross Yield (houses)
2.4%
1yr Growth (houses)
+10.2%
market range +5.0% to +32.5%
Investment snapshot for Millfield
Millfield has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Millfield market and investor summary
Millfield (NSW 2325) runs a median house price of $1.1M, with houses yielding a gross 2.4%. House prices have moved +10.2% over the past year. At 1.3% vacancy, it is a tight rental market that favours landlords.
For an investor, this reads as a capital-growth market more than a cashflow one. A gross house yield around 2.4% will not cover holding costs in the early years, so the case leans on price appreciation. Rental demand looks steady, with vacancy at 1.3% and a resident base that is not shrinking. Houses also take time to sell, around 117 days on market, so plan for a slower exit if you ever need one.
Living in Millfield: people, income and schools
About 1,282 people live in Millfield, a number that has held fairly steady over five years. The median age is 38, broadly working-age, and 88% of homes are owner-occupied. Owner-occupiers dominate, so stock turns over slowly and listings can be thin when you are trying to buy.
Households here earn a median of about $87,000 a year, or roughly $1,670 a week. On socio-economic measures it ranks toward the more disadvantaged end of the ABS advantage index (1 out of 10). At current prices a median house runs to a steep 12.9 times local household income, so affordability is a genuine constraint on local buyers. Locally, around 31% of household income goes to mortgage repayments, a level usually flagged as mortgage stress.
There are 2 schools within about 5km, testing below the national school average on ICSEA. Getting around leans on public transport or a car; the suburb scores 2 for transit out of 100. Fixed broadband is delivered over the NBN's Fixed Wireless.
- Population
- 1,282
- +6% over 5yr
- Median age
- 38 years
- Median household income
- $87,000/yr
- Households renting
- 10%
- Family households
- 78%
- Socio-economic rank
- 1/10
- ABS advantage index
- Schools within 5km
- 2
- avg ICSEA 919
- Unemployment
- 7.0%
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Millfield
View all →Frequently asked questions about Millfield
What should I check before investing in Millfield?
Millfield has enough public data for first-pass screening across yield, vacancy, price and supply signals. Unit gross rental yield of 4.8% gives a usable rent-to-price starting point. Capital growth of +10.2% 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 Millfield?
The median property price in Millfield, NSW 2325 is $1.1M for houses and $465K for units.
What rental yield does Millfield show?
The gross rental yield in Millfield is 2.4% for houses and 4.8% 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 Millfield?
House prices in Millfield are up 10.2% over the past year. 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 Millfield?
The current vacancy rate in Millfield is 1.3%. 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 Millfield?
Millfield has a population of approximately 1,282 residents, with a median age of 38.
What schools are near Millfield?
There are 2 schools within roughly 5km of Millfield. Their average ICSEA is below the national mean of 1000. ICSEA is the ABS measure of a school community's socio-educational advantage.
Is Millfield affordable to buy in?
A median house in Millfield costs about 12.9 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 Millfield's population growing?
The population of Millfield has grown modestly, about 6% over five years. Population growth feeds underlying housing demand, so it is worth weighing alongside price and yield.
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