Mulgrave Property Market Overview (2026)
Mulgrave sits in the solid middle-market position. The suburb offers solid value relative to its amenity base — growing infrastructure with 95 verified local businesses.
Price Estimates
| Property Type | Estimated Median | Monthly Mortgage (est.)* |
|---|---|---|
| House | $750K–$1.1M | $3,000–$4,400 |
| Unit/Apartment | $420K–$600K | $1,700–$2,400 |
Estimates based on Mulgrave’s market positioning. Mortgage estimates assume 20% deposit, 6.5% variable rate, 30-year term. For current sales data, check REIV or Domain.
What Drives Property Value in Mulgrave
Property prices in any suburb reflect three things: what is already there, what is coming, and how easy it is to get to the CBD. Here is how Mulgrave stacks up:
| Amenity Factor | Mulgrave | Impact on Value |
|---|---|---|
| Schools | 14 | Strong — school zones drive family demand |
| Parks | 19 | High — green space is a premium driver |
| Dining & Cafes | 18 | Growing |
| Medical | 13 | Strong — healthcare proximity matters |
| Supermarkets | 0 | None — drives value down |
| Gyms & Fitness | 4 | Active lifestyle suburb |
Total amenity score: 95. Solid infrastructure that supports steady demand.
Schools (Key Value Driver)
Mulgrave has 14 schools — school zone boundaries are one of the strongest price drivers in Melbourne property:
| School | Address |
|---|---|
| Brandon Park Primary School | 1-5 Ninevah Crescent |
| Mulgrave Primary School | 23-31 Gladeswood Drive |
| Albany Rise Primary School | 74-82 Albany Drive |
| Waverley Meadows Primary School | 11 Columbia Drive |
| Wheelers Hill Secondary College | 1-31 Phoenix Drive |
| St Justin’s Parish Primary School | 42-48 Whalley Drive |
| Nazareth College | 13-17 Manning Drive |
| Monash Special Developmental School | 15-25 Academy Avenue |
Check zone boundaries at findmyschool.vic.gov.au.
Rental Market
| Unit Type | Weekly Rent (est.) |
|---|---|
| 1 Bedroom | $300–$400 |
| 2 Bedroom | $400–$520 |
| 3 Bedroom | $520–$700 |
Rental yield estimate: 4.0–4.5% (higher yields in more affordable suburbs).
See our detailed Cost of Living Guide for full cost breakdown.
Before You Buy in Mulgrave
- Check school zones — findmyschool.vic.gov.au determines your designated school
- Review planning overlays — heritage, flood, bushfire at your local council
- Check flood risk — planning.vic.gov.au
- Attend auctions — quoted ranges in Mulgrave are guides, not guarantees
- Get a building inspection — non-negotiable for any house purchase
- Talk to locals — knock on a neighbour’s door. They will tell you what agents won’t
Key Links for Mulgrave Property Research
- Domain — current listings and recent sales
- realestate.com.au — price history and suburb profiles
- REIV — quarterly median prices (the official data)
- ABS Census — population and demographic data
Related Guides
- Best Restaurants in Mulgrave
- Best Cafes in Mulgrave
- Best Bars in Mulgrave
- Cost of Living in Mulgrave
- Mulgrave Neighbourhood Guide
- Family Guide to Mulgrave
- Is Mulgrave Safe?
- Mulgrave Transport Guide
Last updated: March 2026. This guide is refreshed when OpenStreetMap data changes — new openings, closures and corrections are reflected automatically. Found something wrong? Let us know.
Sources
- OpenStreetMap Contributors — openstreetmap.org — accessed March 2026
- ABS Census 2021 — abs.gov.au/census
- REIV Quarterly Median Prices — reiv.com.au
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