Michael Lauria
52 Denver Crescent, Mulgrave, Vic 3170
Auction ($950,000 - $1,045,000)
4 2 2
Auction Saturday 3 October 3:00 pm🏛️ About This Suburb (Last Updated Date: 2026-03-06)
History, Aboriginal heritage, and the story behind the name.
Mulgrave — Wurundjeri Country
Originally an agricultural area known for market gardens and orchards, Mulgrave underwent rapid transformation in the post-WWII era. The 1960s and 70s saw the suburb evolve into a quintessential mid-century residential hub alongside significant industrial development.
Today, Mulgrave is a diverse, family-oriented suburb characterized by large traditional allotments, a growing number of modern townhouse developments, and a major commercial presence via the Monash National Employment and Innovation Cluster.
Overall Score
7.8
A high-performing all-rounder with strong fundamentals for families and professionals.
Name Origin
Named after George Phipps, the Earl of Mulgrave and Governor of Queensland, reflecting the era's colonial naming conventions.
Established
Gazetted 1927
Sporting Heritage
Home to the Waverley Park stadium site, now a landmark residential precinct.
Employment Hub
Contains the headquarters of several major international corporations.
Connectivity
One of the few suburbs positioned at the intersection of the M1 and EastLink.
📊 Scorecard
12 key dimensions scored 0–10. Each score includes a one-line explanation.
Market Momentum
7.2
Steady demand driven by its relative affordability compared to Glen Waverley and Mount Waverley.
Amenity
8.5
Excellent access to Waverley Gardens Shopping Centre and the Monash business precincts.
Schools
7.5
Strong local primary options and proximity to high-ranking secondary and private colleges.
Transport
6.8
Highly reliant on road networks; lacks a dedicated train station within the suburb boundaries.
Risk Profile
8.2
Low environmental risk, though industrial interfaces require careful site selection.
Liveability
8.0
Spacious housing and abundant parklands make it highly suitable for growing families.
Demographics
7.6
A stable mix of established families and an increasing number of young professionals.
Rental Demand
8.4
High demand from workers in the Monash employment cluster and university students.
Growth Potential
7.4
Supported by the Monash National Employment and Innovation Cluster (MNEIC) expansion.
Affordability
6.5
More accessible than northern neighbors, but prices have risen significantly in the last 24 months.
Crime & Safety
8.1
Generally safe residential pockets with crime rates below the metropolitan Melbourne average.
Walkability
5.8
Pockets near Waverley Gardens are walkable, but most errands require a vehicle.
⚡ Quick Snapshot
Key metrics at a glance, plus your top advantages and watch-outs.
Median House
$1,145,000
Estimated March 2026
Median Unit
$815,000
Includes townhouses
12mo Growth
5.2%
Steady capital appreciation
Vacancy Rate
1.1%
Extremely tight rental market
Family Ratio
74%
Predominantly family households
Green Space
12%
Land area dedicated to parks
✅ Key Advantages
- Proximity to the Monash National Employment and Innovation Cluster providing local jobs.
- Large block sizes (typically 600sqm+) offering significant renovation or subdivision potential.
- Excellent shopping convenience at Waverley Gardens and proximity to The Glen and Chadstone.
- Strong community feel with well-maintained local parks and sporting facilities.
- Strategic location for commuters using the Monash Freeway or EastLink.
⚠️ Key Watch-Outs
- Lack of a local train station necessitates bus transfers or driving to nearby hubs.
- Significant traffic congestion at major intersections during peak hours.
- Noise pollution in streets adjacent to the M1, EastLink, and Wellington Road.
- Increasing density through townhouse developments changing the traditional streetscape.
- Presence of high-voltage transmission lines in specific northern and eastern pockets.
🏘️ Suburb Overview
Character, property mix, price range and what drives value here.
🏙️ Character
Family Suburban
How this suburb feels day-to-day.
🏠 Property Types
Primarily 1970s brick veneers, modern executive townhouses, and the Waverley Park estate.
Dominant dwelling stock.
💰 Price Range
$850k – $1.85m
Typical entry to ceiling.
💡 Why It Matters
Mulgrave serves as the 'affordable' entry point into the prestigious Monash corridor. It offers the space of a traditional suburb with the economic backing of a major employment zone, making it resilient to market downturns.
💰 Price Guide & Market Trends
Medians, rental market, 5-year history and property split.
🏠 House Median
$1,145,000
$980k – $1.65m
🏢 Unit Median
$815,000
$650k – $950k
📈 Price Trend
+5.2% past 12 months
12-month movement
🔑 Weekly Rents
Houses $680pw, Units $560pw
Current asking rents
📉 5-Year Price History
🏘️ Property Type Split
The price gap between Mulgrave and neighboring Glen Waverley remains significant, providing a 'value' play for families who want to remain in the Monash catchment without the $1.6m+ median price tag.
🎯 Affordability
How this suburb compares to metro and state medians.
🏙️ vs Metro Average
7% below Greater Melbourne house median
Price comparison
📋 Income Ratio
8.8x average household income
Median price ÷ median income
💳 Gross Yield
3.4% gross yield for houses
Estimated rental yield
More AffordableModeratePremium
Entry levelMid rangePremium
While more affordable than its northern neighbors, Mulgrave has transitioned from a 'budget' suburb to a 'middle-ring' premium contender. First home buyers are increasingly limited to townhouses or units.
🔥 Rental Demand
Vacancy rates, demand pressure, tenant profile, and investor outlook.
📊 Vacancy Rate
1.1%
Lower = tighter market
⏱️ Days to Lease
16 days
Avg time on market
📈 Rent Growth p.a.
+9.5% pa
Annual rental increase
Demand Level
Very High
👤 Tenant Profile
Healthcare workers from Monash Health, university staff/students, and corporate professionals.
💼 Investor Outlook
Strong capital growth prospects combined with low vacancy rates. Older houses on large blocks offer the best long-term value via future development potential (STCA).
🚀 Growth Potential
Historical capital growth, infrastructure pipeline, and 5-year outlook.
+5.2%
1-Year Growth
+18.5% cumulative
3-Year Growth
+32% cumulative
5-Year Growth
📍 Growth Drivers
- Ongoing expansion of the Monash National Employment and Innovation Cluster.
- Spillover demand from the high-priced Glen Waverley and Mount Waverley markets.
- State government investment in the Suburban Rail Loop (SRL) benefiting nearby Clayton.
- Gentrification of older 1970s housing stock by young families.
⛔ Headwinds
- Interest rate sensitivity among middle-income family buyers.
- Rising construction costs impacting the feasibility of small-scale subdivisions.
- Limited public transport infrastructure improvements within the suburb itself.
🔮 5-Year Outlook
Expect steady outperformance of the Melbourne average as the Monash employment hub matures. Mulgrave is likely to see continued 'in-fill' development, increasing its population density and local amenity.
🛡️ Crime & Safety
Safety index, trend comparison, and what to check locally.
8.1
Safety Score
Above Average
📉 Trend
Stable
vs last 12 months
🏙️ vs Metro Average
18% below metro average crime rate
Relative comparison
Risk Categories
Property Crime: Low
Personal Safety: Low
Traffic Incidents: Medium
📋 What to Check Locally
Standard residential precautions apply. Focus on secure fencing and sensor lighting, particularly for properties with rear access to parklands or laneways.
⚠️ Risk Profile
Natural hazards and planning risks to verify before buying.
📋 Summary
The primary risks are environmental (noise/air) and structural (soil conditions). The suburb is generally low-risk for major natural disasters.
🌊 Flood Risk
Low risk; some localized overland flow issues near Mile Creek during extreme rain events.
🔥 Bushfire Risk
Negligible risk due to urbanized nature.
🏦 Insurance Impact
Standard premiums apply; no significant 'red-flag' loading for the 3170 postcode.
🗺️ Planning & Zoning
Development controls, overlays, and what's changing locally.
📐 Typical Zoning
General Residential Zone - Schedule 1 (GRZ1)
🔲 Overlays
Vegetation Protection Overlay (VPO), Land Subject to Inundation Overlay (LSIO) in small pockets.
🏗️ Development Hotspots
Springvale Road corridor and the areas surrounding Waverley Gardens Shopping Centre.
The Monash Housing Strategy encourages moderate growth. Buyers should check for 'Significant Landscape Overlays' which can restrict tree removal and building heights.
🌳 Liveability
Day-to-day experience — transport, amenity, green space, schools and healthcare.
🚌 Transport
Excellent for drivers (M1/EastLink); bus-reliant for public transport users.
🛍️ Amenity & Retail
High; Waverley Gardens provides a comprehensive retail and service hub.
🌲 Parks & Recreation
Very Good; Southern Reserve and the Waverley Park lake area are local highlights.
🏫 Schools
Good; Mulgrave Primary and Wellington Secondary are well-regarded; Mazenod College is a major drawcard.
🏥 Healthcare
Exceptional; minutes away from the Monash Medical Centre and Victorian Heart Hospital.
👥 Demographics
Who lives here — income, age, ownership, and education levels.
A multicultural, middle-income suburb with a high proportion of multi-generational households.
💵 Median Income
$88,400 pa (Household)
🏠 Ownership
38% owned outright, 36% mortgaged, 24% renting
🎂 Age Profile
Median age 39
🎓 Education
High proportion of vocational and tertiary qualified residents.
📊 Age Distribution
The high rate of outright ownership provides market stability, while the growing 25-44 demographic is driving the demand for modern renovations and cafes.
🏗️ Major Developments
Infrastructure pipeline and what it means for values and liveability.
📋 Overview
Focused on the Monash NEIC and the evolution of the Waverley Park precinct.
📈 Positive Impacts
- Expansion of the Victorian Heart Hospital nearby increasing high-value tenant demand.
- Upgrades to the Monash Freeway improving travel times to the CBD.
- Modernization of the Waverley Gardens retail precinct.
📉 Negative Impacts
- Increased traffic density on Wellington Road and Springvale Road.
- Loss of 'backyard' character as older blocks are subdivided into townhouses.
🗺️ Nearby Suburb Comparison
How neighbouring suburbs stack up on price, lifestyle and who they suit.
📍Glen Waverley
Position
North
Price
35% more expensive
Lifestyle
More 'urban' with a major rail hub and high-end dining.
Best for
High-budget buyers prioritizing school zones and rail.
📍Wheelers Hill
Position
East
Price
15% more expensive
Lifestyle
Leafier, more undulating terrain with larger 'prestige' homes.
Best for
Families seeking views and a quieter, more secluded feel.
📍Springvale
Position
South
Price
10% more affordable
Lifestyle
Vibrant multicultural hub with significant rail and market activity.
Best for
Investors and those seeking a more energetic, diverse atmosphere.
📍Clayton
Position
West
Price
Similar
Lifestyle
Dominated by the University and Hospital; more transient population.
Best for
Investors and healthcare professionals.
🔍 Similar Suburbs
Suburbs with a comparable profile — useful if this one is over budget or sold up.
Wantirna South
VIC
7.9/10
Similar 1970s housing stock, major shopping center (Knox), and freeway access.
Vermont South
VIC
8.1/10
Strong family demographic, lack of train station, but high-quality suburban feel.
Doncaster East
VIC
8.3/10
Freeway-centric transport, large blocks, and strong secondary school options.
Baulkham Hills
NSW
7.7/10
A major employment-adjacent family suburb with high car dependency and large blocks.
💬 Community Sentiment
Aggregated themes from resident discussions, forums and local feedback.
📊 Overall Community Sentiment
Residents value the suburb's safety, the convenience of Waverley Gardens, and the 'middle-ground' location that makes most of Melbourne accessible by car.
★★★★★
Family Life
It's the perfect place to raise kids. The blocks are big enough for a pool and a trampoline, and the parks are everywhere.
Space
Safety
★★★★☆
Value for Money
We couldn't afford Glen Waverley, but Mulgrave gave us a 3-bedroom house for the price of a unit there.
Affordability
Distance to CBD
★★★☆☆
Traffic
The freeway access is great until it isn't. Wellington Road can be a nightmare at 8:30 AM.
Freeway Access
Congestion
★★★★★
Convenience
Having Waverley Gardens so close means I don't have to travel far for anything. The doctors and shops are all right there.
Amenity
Walkability
★★★★☆
Investment
I never have trouble finding tenants. The proximity to the Monash precinct keeps demand very high year-round.
Rental Yield
Maintenance
★★★★☆
Work-Life Balance
Working at the Monash tech precinct and living here saves me two hours of commuting every day.
Local Jobs
Nightlife
💡 Tailored Advice
Personalised guidance for every role in this market.
🧑💼 Buyer Strategy
- Prioritize the 'Golden Triangle' area (bounded by Wellington, Springvale, and Jacksons Rds) for long-term capital stability.
- Check for high-voltage power line easements which can affect resale value and financing.
- Look for 1970s homes with 'good bones'—these are ideal for cosmetic renovations that yield high equity gains.
- Verify the school catchment for Wellington Secondary College if that is a priority, as boundaries are strictly enforced.
- Consider the impact of the Monash Freeway noise; visit the property during peak hour to assess the acoustic impact.
❓ Questions to Ask the Agent
- Is the property located within a designated 'Significant Landscape Overlay'?
- Are there any active planning permits for townhouse developments on the neighboring blocks?
- Has the property been tested for slab heave or reactive soil issues common in this area?
- What are the specific school zone boundaries for this address this year?
- Are there any easements related to high-voltage power lines or drainage on the title?
- What is the current commute time to the CBD via the M1 during the 8:00 AM peak?
- Has the electrical wiring and plumbing been updated since the original 1970s build?
🏷️ Seller Strategy
- Highlight any energy-efficiency upgrades (solar, double glazing) as these are highly valued by modern families.
- Ensure gardens are neatly landscaped; Mulgrave buyers prioritize outdoor living and 'curb appeal'.
- If selling an older home, provide a recent building and pest report to streamline the negotiation process.
- Market the proximity to the Monash employment cluster to attract professional buyers.
- Stage the home to show a clear 'home office' space, catering to the hybrid work trend in this demographic.
📣 Positioning Tips
Position the property as a 'strategic family asset' that balances lifestyle today with land-banking potential for tomorrow. Emphasize the proximity to Monash University and the Victorian Heart Hospital.
💼 Investment Case
Mulgrave offers a compelling 'yield + growth' play. The extremely low vacancy rate (1.1%) ensures consistent cash flow.
⚠️ Investment Risks
Over-supply of townhouses in specific pockets could lead to slower capital growth for newer units compared to houses on land.
📈 Action Plan
- Target 3-bedroom houses on 600sqm+ blocks.
- Look for properties within walking distance of Waverley Gardens.
- Consider a minor cosmetic refresh to maximize rental appraisal.
- Focus on long-term land value rather than immediate high yields.
🔑 Renter Tips
- Be prepared with a complete application; properties lease very quickly here.
- Check the bus routes to nearby train stations (Clayton or Glen Waverley) if you don't drive.
- Look for properties with included lawn maintenance if the block is large.
🏘️ What Renters Love Here
Quiet residential streets and excellent local shopping.
⚠️ Renter Watch-Outs
Older homes can have poor insulation; check for heating/cooling efficiency.
🏢 Landlord Strategy
- Ensure compliance with Victoria's minimum rental standards, particularly regarding heating and electrical safety.
- Consider allowing pets to tap into the large family/pet-owner tenant pool.
- Regularly review rents to stay aligned with the fast-moving 3170 market.
📋 Compliance & Management
Strict adherence to the Residential Tenancies Act is required, with specific focus on smoke alarm and gas safety checks every two years.
🤝 Agent Insights
- The market is currently driven by 'upgraders' moving from apartments in the inner-east to houses in the south-east.
- Buyers are increasingly wary of unpermitted renovations in older Mulgrave homes.
🎯 Marketing Angles
Focus on 'The Monash Lifestyle'—work, study, and play all within a 10-minute radius.
👤 Target Buyer Profile
Young families (30-45), multi-generational households, and healthcare professionals.
✅ Due Diligence Checklist
Tap items to tick them off. Don't skip these before signing anything.
✓
Verify the title for any restrictive covenants or Section 173 agreements.
✓
Conduct a thorough building inspection focusing on the sub-floor and roof structure.
✓
Check the Monash Council planning portal for nearby future developments.
✓
Assess the noise levels at different times of the day, especially if near major roads.
✓
Confirm the property is not in a Land Subject to Inundation Overlay (LSIO).
✓
Review the most recent ABS Census data for the specific SA1 area to understand immediate neighbors.
✓
Check for any heritage overlays (rare in Mulgrave but possible in Waverley Park).
✓
Inspect the condition of the driveway and any large trees near the dwelling.
✓
Verify the functionality of all heating and cooling systems.
✓
Evaluate the proximity and frequency of bus services if public transport is required.
✓
Check for any signs of asbestos in eaves or wet areas (common in 1970s builds).
✓
Confirm the NBN connection type (FTTP is preferred over FTTN).
📚 Government Sources & Disclaimer
Official council and government links only. Always verify independently before any property decision.
⚠️ Important Disclaimer
This report is based on data available as of 2026-03-06 and is intended for informational purposes only. It does not constitute financial or investment advice. Buyers should conduct their own independent research and seek professional legal and financial counsel before making any property purchase.
