Located in South Australia within the Unley local government area, Millswood is a smaller residential area (postcode 5034). The area has roughly 2,173 residents and a mature demographic, with a median age of 45. Households earn a median income of $147K per year, with an average household size of 2.7 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.7% year-on-year at the LGA level. SA employment has moved +2.1% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. SA also had 23 Commonwealth-backed major projects under construction, 2 underway, and 11 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, managers, clerical & administrative. Employment in the area leans toward healthcare and professional services. The top ancestries reported are English, Australian, Irish.
Millswood has a median house price of $1.9 million, which has fallen sharply by 9.8% year-on-year. The current median weekly rent is $373. This gives a gross rental yield of approximately 1.0%. The median monthly mortgage repayment is $2,253.
Public transport access includes 1 rail station, 5 bus stops. The crime rate in the Unley LGA is below average at 2,485 incidents per 100,000 population.
On the investment side, Gross rental yield sits at around 1.0% (low yield). Property prices are above the state median ($1.9M/$950K), placing it in the premium segment. The price-to-income ratio of 13.2x is considered stretched. House prices have moved -9.8% year-on-year. Population growth of +0.7% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.