Heightened investor interest is fuelling significant price growth in Mildura, with new data revealing the regional Victorian hub has experienced a 20.1 per cent spike in median house values over the past 12 months.
Nestled in heart of the Sunraysia district, Mildura is not only renowned for its agricultural foundations but is also emerging as a dynamic destination for tourism and cuisine. Known for its vast citrus groves, vineyards, and olive plantations, the city has long been a powerhouse of regional produce, contributing significantly to Victoria’s agribusiness sector.
According to Cotality’s Best of the Best 2025[i] report, Mildura recorded 821 house sales in 2025, resulting in a total transaction value of $418,459,341, the highest residential property expenditure in regional Victoria in the 12 months to last September. With its diverse and resilient economy, underpinned by thriving healthcare, agriculture, hospitality, and tourism sectors, Mildura is attracting both investors and owner-occupiers at an unprecedented pace.
In recent months, investor demand has been further buoyed by Mildura’s attractive rental yield of 4.7%, which significantly outperforms Melbourne’s 3.6%. This has led to a dramatic decrease in the average time properties spend on the market—from 30 days to just 20 days.
Mr Mark Thornton, Principal and Sales Agent, One Agency Mildura, has observed a fundamental shift in the local market in recent months. “When I launched the business in 2021, Mildura’s market was known for its consistency, but not necessarily large gains,” Mr Thornton stated.
“In less than 24 months, we have since seen about a 25% to 30% increase in the median property price, with investors being the dominant group of buyers making up the majority of purchases.”
Mr Thornton highlights the $500,000 to $650,000 price bracket as the most competitive range, “Two years ago, those same properties were selling for about $150,000 less,” he explained. “Now, properties in this price range can receive up to 20 offers each from interested buyers.”
An example of the current demand in Mildura is the recent sale of 152 Burrows Street, Mildura[ii]. Initially, the vendor had considered selling privately with price expectations of around $450,000. However, upon the recommendation of Mr Thornton, the vendors proceeded with a public sale campaign.
The three-bedroom property, with an estimated rental return of $540 per week, generated substantial interest, culminating in a final sale price of $596,000—exceeding the vendor’s initial expectations by over $140,000—in just four weeks.
Despite the recent rate cut, investor interest in Mildura shows no signs of slowing. “It will be interesting to see how the market responds following the next RBA meeting,” Mr Thornton added.
“Overall, I’m confident Mildura will remain popular with investors and owner-occupiers for years to come. We stand on our own two feet, we have a diversity of industry, projected population growth, hospital and health scene, plus an airport.”
[i] https://www.cotality.com/au/resources/reports/best-of-the-best-report
[ii] https://oneagency.com.au/listing?listing_id=23931082
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