Mill Park’s median house price in 2026 is $780,000, with units at $460,000. The suburb has recorded 24% five-year growth and unit gross yield averages 4.9%. Mill Park sits in Melbourne’s northern growth corridor — 18km from the CBD — and offers some of the best value-for-money family housing in the metropolitan area, with new estate infrastructure, Westfield Plenty Valley and Epping Plaza within easy reach.
Mill Park Median Prices at a Glance
| Property Type | Median Price | 5-Year Growth | Gross Yield |
|---|---|---|---|
| House | $780,000 | 24% | 3.4% |
| Unit/Apartment | $460,000 | 22% | 4.9% |
| Townhouse | $690,000 | 23% | 3.8% |
What Is Driving Mill Park Prices?
Mill Park benefits from strong family demand, proximity to La Trobe University and Bundoora, and the South Morang rail line which provides direct access to the CBD. The suburb’s population of 32,400 (ABS 2021) is growing rapidly, with median household income of $1,980/week and 71% owner-occupier rate reflecting strong family stability.
Is Mill Park a Good Investment?
GeeVee AI rates Mill Park 7.1/10 for investment in 2026. It scores well on affordability (9/10) and family demand (8/10), with moderate scores on yield (7/10) and infrastructure (7/10). GeeVee recommends Mill Park as an entry-level investment for buyers under $500k.
Frequently Asked Questions
What is the median house price in Mill Park in 2026?
The median house price in Mill Park is approximately $780,000 as of Q2 2025 (REIV data).
Is Mill Park good for investment property?
Yes for entry-level yield-focused investors. GeeVee rates Mill Park 7.1/10 with 4.9% unit yield.
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