Mildura Property Market Update 2nd Half 2025
Mildura, in Victoria, offers an affordable cost of living and a welcoming, multicultural community. Additionally, its hot summers and cool winters, and proximity to stunning natural landscapes make it an ideal place for outdoor enthusiasts.
Property Trends
In Q3 2025, Mildura recorded a median house price of $550,000 and a median unit price of $350,000. This represents an annual (Q3 2024 – Q3 2025) price surge of 20.9% for houses and 12.9% for units. Comparing Q3 2024 and Q3 2025, total sales grew by 0.5% (to 207 sales in Q3 2025) for houses and by 9.8% (to 45 sales in Q3 2025) for units. This confirms a highly demanded market for both property types and an ideal time for owners to capitalize on their investments. Furthermore, future development projects are limited to infrastructure developments, without any new dwellings or townhouses or units in the pipeline. Thus, home buyers need to act fast.
Project Development
Mildura is set to see approximately $525.6M of new projects commencing construction between 2025 to 2026. No residential projects are planned, which means there are no new houses or units on the horizon. And yet, there has been higher sales numbers in the past 12 months to Q3 2025, which reflects strong and sustainable market demand. Combined, this will most likely drive-up median prices across all property types.
Rental Market & Growth
House rental yield in Mildura was 4.7% as of September 2025, higher than Mildura LGA’s 4.5% and Melbourne Metro’s 3.1%. This was paired with a 3.6% growth in median house rental price in the past 12 months to Q3 2025, at $495 per week; together with a 44.7% surge in the number of houses rented (to 259 rentals in Q3 2025). The same pattern can be seen in the unit rental market. This confirms a highly demanded rental market for both property types. With a more affordable entry price than Melbourne Metro, Mildura is an ideal investment alternative for investors.
Vacancy Rates & Property Investment
Mildura recorded a vacancy rate of 1.3% in September 2025, which is below Mildura LGA average of 1.5% and Melbourne Metro’s 1.8%. Vacancy rates have increased in the past 12 months, as investors have re-entered the market. However, a 1.3% vacancy rate is still well below the Real Estate Institution of Australia’s healthy benchmark of 3.0%, thus indicating quicker occupancy of rental properties in Mildura. This creates a conducive and sustainable environment for investors, even with a higher house and sales price (thus, entry price) in the past 12 months to Q3 2025.
