From 5.49% p.a.Comparison rate 5.72% p.a.*

Home Loans in Mill ParkVIC 3082

Compare home loan rates from 50+ lenders for properties in Mill Park. Median house price $700,000 with property growth of +6.8% p.a..

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Mill Park Property Snapshot
Median house price: $700,000
Median unit price: $450,000
Property growth: +6.8% p.a.
Population: 30,000

Property Market in Mill Park, VIC

Mill Park is an established northern suburb with Stables shopping centre and good amenities. The median house price in Mill Park is currently around $700,000, while units sit at approximately $450,000. The suburb has experienced property growth of +6.8% p.a., making it a steady performer in Victoria.

Why Buy in Mill Park?

Mill Park offers a range of lifestyle benefits that make it attractive to homebuyers and investors alike. Key features of the area include:

Stables shopping
Established suburb
Parks & recreation
Northern suburbs

Typical Home Loan Amounts in Mill Park

Based on the current median house price of $700,000, most buyers in Mill Park will be looking at home loans in the range of $490,000 to $665,000, depending on their deposit size. With an 80% loan-to-value ratio (LVR), a typical loan would be around $560,000.

For unit buyers, loan amounts typically range from $315,000 to $427,500. First home buyers in Mill Park may be eligible for state government grants and stamp duty concessions, which can significantly reduce upfront costs.

Home loan rates from

5.49% p.a.

Comparison rate 5.72% p.a.*

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How We Help You Get a Home Loan in Mill Park

As a mortgage broker, we compare home loan rates from over 50 lenders to find the best deal for your purchase in Mill Park. Our service is free to you — we are paid a commission by the lender, which is disclosed in our Credit Guide. Whether you're a first home buyer, upgrader, or investor, we'll guide you through the process from pre-approval to settlement.

WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees, or other loan amounts might result in a different comparison rate. Comparison rates are based on a secured loan of $30,000 over 5 years for vehicle finance and $50,000 over 5 years for equipment finance, as required under the National Credit Code.

Home Loan FAQs for Mill Park, VIC

What is the median house price in Mill Park?

The median house price in Mill Park, VIC is approximately $700,000. Unit prices sit around $450,000. These are indicative figures and actual prices vary by property type, condition, and location within the suburb.

How much deposit do I need to buy in Mill Park?

For a median-priced house in Mill Park at $700,000, a 20% deposit would be $140,000. However, you may be able to buy with as little as 5% deposit ($35,000) if you pay Lenders Mortgage Insurance (LMI). First home buyers may also access government schemes to buy with a lower deposit.

What would repayments be on a home loan in Mill Park?

Based on an 80% loan of $560,000 at 5.49% p.a. over 30 years, estimated monthly repayments would be approximately $3,176. Actual repayments depend on your interest rate, loan amount, and loan term. Use our calculator for a personalised estimate.

Is Mill Park a good area to buy property?

Mill Park has shown property growth of +6.8% p.a. recently. Mill Park is an established northern suburb with Stables shopping centre and good amenities. With a population of approximately 30,000, the suburb offers stables shopping and established suburb. We recommend speaking with a local real estate agent and doing thorough research before purchasing.

Can I get a home loan pre-approval for Mill Park?

Yes, we can help you get pre-approved for a home loan to purchase in Mill Park. Pre-approval gives you confidence at auction or when making an offer. Our brokers compare 50+ lenders to find the best rate for your situation. The process typically takes 1-3 business days.