All About Millgrove, Yarra Ranges, VIC, 3799

Millgrove, situated in the picturesque Yarra Ranges of Victoria, offers a unique blend of natural beauty and small-town charm that makes it a compelling choice for those considering the housing market here. Known for its lush landscapes and proximity to the Yarra River, Millgrove provides a tranquil retreat from the hustle and bustle of city life while still maintaining accessibility to nearby urban centers. The housing market in Millgrove is characterized by a mix of affordable properties, including charming cottages and larger family homes, making it attractive for both first-time buyers and those seeking a peaceful retreat. The area’s natural beauty, coupled with its affordability, has led to a steady interest from buyers looking to invest in a serene and community-focused environment.

Living in Millgrove offers a lifestyle steeped in nature and community spirit. Residents enjoy the benefits of a peaceful rural setting with easy access to outdoor activities such as hiking, cycling, and exploring the rich biodiversity of the Yarra Ranges National Park. Community events and local markets are a staple, fostering a tight-knit and friendly atmosphere among the locals. With a small-town feel, Millgrove provides a sense of belonging and security that appeals to families and retirees alike. Despite its rural ambiance, Millgrove is conveniently located within driving distance of larger towns and urban amenities, ensuring that residents can enjoy the best of both worlds—serenity and convenience.

Millgrove Real Estate Market Outlook

Thinking about buying in Millgrove? Now could not be a better time, with 882 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $647,000 with prices in this suburb ranging from $104,000 to $1,774,000. The aproximate distance to the coast is 53 Km.

In Millgrove there has been a history of lower than average prices and demand, offering opportunities for investors or first home owners, especially in the context of the growth in working from home. In this area of average incomes, there is a mix of housing size and quality. While this may present buying opportunities, growth may be constrained. As buyers begin to examine Millgrove due to other areas being out of the price range and the trend to working from home, "gentrification" may incease price growth. A mix of professions and above average income earners in Millgrove provides good demand. The lower than average housing turnover of these people also means fewer regular listings leading to periodic large price increases. High density population in Millgrove requires consistent turnover in housing ensuring constant demand. Housing styles may be a mix of low, medium, and high density, providing choice for well-financed buyers and value growth over time. With very low industrial sector presence in Millgrove the focus is on lifestyle, driving specific demand around facilities, services, and open space. Most people are employed in service sectors with a higher than average proportion being able to work from home. This may incease demand over the medium term.

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