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Myrrhee, VIC 3732
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$920,000
Median Unit
$170,000
Gross Yield (houses)
2.9%
1yr Growth
-
Investment snapshot for Myrrhee
Myrrhee has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Myrrhee market and investor summary
In Myrrhee, VIC 3732, the median house sells for around $920K, on a gross rental yield of 2.9% for houses. At 3.0% 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.
Living in Myrrhee: people, income and schools
Myrrhee has a resident population of roughly 168, a number that has held fairly steady over five years. At a median age of 49, it reads as skewed a little older, and 82% of homes are owner-occupied. Owner-occupiers dominate, so stock turns over slowly and listings can be thin when you are trying to buy.
The typical household income runs to around $80,000 a year (about $1,530 a week). On socio-economic measures it ranks around the national middle on the ABS advantage index (5 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. Incomes have risen about 32% over five years, which tends to underpin what local buyers can pay.
There is 1 school within about 5km, testing a little above the national school average on ICSEA.
- Population
- 168
- +3% over 5yr
- Median age
- 49 years
- Median household income
- $80,000/yr
- Households renting
- 9%
- Family households
- 64%
- Socio-economic rank
- 5/10
- ABS advantage index
- Schools within 5km
- 1
- avg ICSEA 1059
- Unemployment
- 2.7%
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Myrrhee
No properties currently listed in Myrrhee
Search Myrrhee listings →Frequently asked questions about Myrrhee
What should I check before investing in Myrrhee?
Myrrhee 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 Myrrhee?
The median property price in Myrrhee, VIC 3732 is $920K for houses and $170K for units.
What rental yield does Myrrhee show?
The gross rental yield in Myrrhee 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 Myrrhee?
The current vacancy rate in Myrrhee is 3.0%. 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 Myrrhee?
Myrrhee has a population of approximately 168 residents, with a median age of 49.
What schools are near Myrrhee?
There are 1 school within roughly 5km of Myrrhee. Their average ICSEA is a little above the national mean of 1000. ICSEA is the ABS measure of a school community's socio-educational advantage.
Is Myrrhee affordable to buy in?
A median house in Myrrhee 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 Myrrhee's population growing?
The population of Myrrhee has grown modestly, about 3% over five years. Population growth feeds underlying housing demand, so it is worth weighing alongside price and yield.
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