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. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.3% year-on-year at the LGA level. QLD employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. QLD also had 32 Commonwealth-backed major projects under construction, 12 underway, and 50 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, community & personal service, labourers. Employment in the area leans toward healthcare and retail trade. The top ancestries reported are English, Australian, Irish.
Median house prices in Millbank stand at $500,000, having climbed sharply by 11.1% over the last twelve months. 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 4,913 incidents per 100,000 population.
On the investment side, Millbank shows a gross rental yield of approximately 4.3%, rated as moderate yield. Property prices sit below the state median ($500K/$1.1M), which can point to relative value. The price-to-income ratio of 9.6x is considered moderate. House prices have moved +11.1% year-on-year. Population growth of +1.3% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.