Millbank is a smaller suburb in Queensland within the Bundaberg local government area (postcode 4670). With a population of 2,499, the suburb has a mature demographic with a median age of 47. Households earn a median income of $52K per year, with an average household size of 2.2 people. The most common occupations are professionals, community & personal service, labourers. The top ancestries reported are English, Australian, Irish.
The median house price in Millbank is $500,000, having surged 11.1% over the past year. Units have a median price of $378,000 (+7.9% YoY). The current median weekly rent is $410. This gives a gross rental yield of approximately 4.3%. The median monthly mortgage repayment is $1,188.
The crime rate in the Bundaberg LGA is moderate at 5,052 incidents per 100,000 population.
From an investment perspective, Millbank offers a gross rental yield of 4.3%, rated as moderate yield. Property prices sit below the state median ($500K/$1.1M), suggesting a potential value opportunity. The price-to-income ratio of 9.6x is considered moderate. House prices have moved +11.1% year-on-year.
Millbank is a smaller suburb in Queensland within the Bundaberg local government area (postcode 4670). With a population of 2,499, the suburb has a mature demographic with a median age of 47. Households earn a median income of $52K per year, with an average household size of 2.2 people. The most common occupations are professionals, community & personal service, labourers. The top ancestries reported are English, Australian, Irish.
The median house price in Millbank is $500,000, having surged 11.1% over the past year. Units have a median price of $378,000 (+7.9% YoY). The current median weekly rent is $410. This gives a gross rental yield of approximately 4.3%. The median monthly mortgage repayment is $1,188.
The crime rate in the Bundaberg LGA is moderate at 5,052 incidents per 100,000 population.
From an investment perspective, Millbank offers a gross rental yield of 4.3%, rated as moderate yield. Property prices sit below the state median ($500K/$1.1M), suggesting a potential value opportunity. The price-to-income ratio of 9.6x is considered moderate. House prices have moved +11.1% year-on-year.