North West Property Market: Prices, Vacancy & Trends
As of May 2026, median house prices across the North West SA4 range from $390,500 (Grampians) to $550,500 (Mildura). The stock-weighted rental vacancy rate is 10.5%, ranging from 8.7% in Murray River - Swan Hill to 11.6% in Mildura. Top median house rent is $570/week in Irymple.
Source: Suburbtrends, 12-month rolling medians · Updated monthlyWhat is the median house price in the North West?
Median house prices across the North West's SA3 markets span $390,500 to $550,500, with Mildura the most expensive market and Grampians the most affordable.
| SA3 market | Median house | 12-mth change | Median unit | Days on market |
|---|---|---|---|---|
| Mildura | $550,500 | +18.9% | $397,000 | 34 |
| Murray River - Swan Hill | $445,000 | +4.7% | $400,000 | 76 |
| Grampians | $390,500 | +8.5% | $335,000 | 59 |
| SA3 market | Houses for sale | Houses for rent | Units for sale | Units for rent |
|---|---|---|---|---|
| Grampians | 334 | 49 | 17 | 7 |
| Murray River - Swan Hill | 230 | 22 | 10 | 4 |
| Mildura | 223 | 144 | 31 | 15 |
Listings counts are the current-month average of properties advertised for sale or rent. Unit stock can be thin in regional markets — some SA2 unit markets carry only a handful of active listings at any time.
| SA2 area | SA3 | House median | House 12-mth | Unit median |
|---|---|---|---|---|
| Mildura - South | Mildura | $630,000 | +16.7% | $425,000 |
| Irymple | Mildura | $614,500 | +12.8% | — |
| Gannawarra | Murray River - Swan Hill | $580,000 | −30.1% | — |
| Merbein | Mildura | $550,000 | +15.1% | — |
| Mildura - North | Mildura | $525,100 | +21.6% | $380,000 |
| Swan Hill | Murray River - Swan Hill | $500,000 | +3.1% | — |
| Red Cliffs | Mildura | $455,000 | +8.3% | — |
| Ararat | Grampians | $425,500 | +12.9% | $337,500 |
| Horsham | Grampians | $415,000 | +4.9% | $340,000 |
| Ararat Surrounds † | Grampians | $410,000 | — | — |
| Robinvale † | Murray River - Swan Hill | $408,000 | — | — |
| Stawell | Grampians | $405,000 | +22.7% | — |
| Horsham Surrounds † | Grampians | $380,000 | — | — |
| Kerang | Murray River - Swan Hill | $339,000 | −9.6% | — |
| Swan Hill Surrounds | Murray River - Swan Hill | $330,000 | −8.3% | — |
| Buloke | Murray River - Swan Hill | $300,000 | +15.4% | — |
| St Arnaud † | Grampians | $295,000 | — | — |
| Nhill Region | Grampians | $215,000 | −10.0% | — |
| West Wimmera † | Grampians | $209,000 | — | — |
| Yarriambiack | Grampians | $207,000 | −13.7% | — |
| Mildura Surrounds † | Mildura | $197,000 | — | — |
† Thin market: fewer than 40 sales in 12 months, or a distorted price mix — medians are volatile and 12-month changes are not reported. A dash indicates too few unit sales to report a reliable median.
Which North West areas are growing fastest?
Among SA2 areas with robust sales volumes, the strongest 12-month house price growth to May 2026 was Stawell +22.7%, Mildura - North +21.6%, Mildura - South +16.7%, Buloke +15.4%, Merbein +15.1%. The softest market was Gannawarra (-30.1%).
What is the rental vacancy rate in the North West?
The stock-weighted rental vacancy rate across the North West SA4 is 10.5% as at May 2026. Conditions range from 8.7% in Murray River - Swan Hill to 11.6% in Mildura.
| SA3 market | Dec 25 | Jan 26 | Feb 26 | Mar 26 | Apr 26 | May 26 | Rental stock |
|---|---|---|---|---|---|---|---|
| Murray River - Swan Hill | 3.2% | 6.5% | 5.2% | 9.7% | 8.2% | 8.7% | 69 |
| Grampians | 6.6% | 6.7% | 7.8% | 7.5% | 8.7% | 8.9% | 191 |
| Mildura | 2.2% | 5.5% | 9.1% | 11.9% | 11.6% | 11.6% | 415 |
Suburbtrends Vacancy Index methodology: vacant rental listings as a share of total rental stock, rolling 3-month basis. SA4 weighted rate uses current rental stock weights.
What are the rents in the North West?
Median house rents across the North West run to $570/week in Irymple at the top of the region. Unit rents typically sit below houses; bedroom splits below show where stock supports a reading.
| SA2 area | Median | 2-bed | 3-bed | 4-bed |
|---|---|---|---|---|
| Irymple | $570 | $370 | $560 | $650 |
| Mildura - South | $560 | $400 | $550 | $625 |
| Robinvale | $520 | — | $520 | $580 |
| Swan Hill | $500 | $385 | $500 | $560 |
| Mildura - North | $480 | $385 | $480 | $550 |
| Merbein | $470 | $350 | $470 | $510 |
| Horsham | $450 | $360 | $440 | $520 |
| Red Cliffs | $450 | $360 | $460 | $530 |
| Gannawarra | $440 | $400 | $440 | $420 |
| Ararat | $420 | $340 | $410 | $480 |
| Stawell | $420 | $360 | $430 | $550 |
| Horsham Surrounds | $390 | $390 | $300 | — |
| Ararat Surrounds | $380 | — | $375 | $410 |
| Swan Hill Surrounds | $380 | $380 | $365 | $500 |
| St Arnaud | $370 | — | $320 | $450 |
| Kerang | $370 | $370 | $350 | $400 |
| Mildura Surrounds | $360 | $320 | $350 | $420 |
| West Wimmera | $350 | $420 | $350 | — |
| Yarriambiack | $350 | $280 | $350 | $450 |
| Buloke | $350 | $250 | $350 | $275 |
| Nhill Region | $340 | $330 | $330 | $380 |
| SA2 area | Median | 2-bed | 3-bed |
|---|---|---|---|
| Irymple | $460 | $345 | $535 |
| Mildura - South | $415 | $380 | $500 |
| Merbein | $400 | $400 | — |
| Gannawarra | $400 | $400 | — |
| Mildura - North | $390 | $370 | $470 |
| Horsham | $370 | $360 | $460 |
| Swan Hill | $360 | $375 | $520 |
| Ararat | $350 | $350 | $440 |
| Red Cliffs | $300 | $350 | $450 |
| Kerang | $285 | $260 | $290 |
| Swan Hill Surrounds | $285 | $285 | — |
| Yarriambiack | $270 | — | — |
| Stawell | $260 | $300 | $380 |
| St Arnaud | $255 | — | — |
| Horsham Surrounds | $220 | $320 | — |
| Nhill Region | $220 | $230 | — |
| Buloke | $200 | — | — |
Rents are median advertised asking rents over 12 months. Bedroom splits are reported where enough listings support a reading; a dash indicates too few. Unit rents are shown only for SA2s with sufficient rental stock.
How have North West prices and rents moved?
Over the 16 months to May 2026, median house prices across the North West SA4 moved from $390,500 (Grampians) to $550,500 (Mildura) at the extremes. The chart tracks each SA3 market for house prices, unit prices and house rents.
| SA3 | Feb 25 | Mar 25 | Apr 25 | May 25 | Jun 25 | Jul 25 | Aug 25 | Sep 25 | Oct 25 | Nov 25 | Dec 25 | Jan 26 | Feb 26 | Mar 26 | Apr 26 | May 26 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Grampians | $365,000 | $365,000 | $360,000 | $360,000 | $360,000 | $360,200 | $359,000 | $360,000 | $360,000 | $360,000 | $359,000 | $360,000 | $360,000 | $375,000 | $380,000 | $390,500 |
| Mildura | $450,000 | $450,000 | $455,000 | $463,000 | $465,000 | $470,000 | $480,000 | $495,000 | $500,000 | $506,050 | $511,000 | $525,100 | $530,000 | $540,000 | $550,000 | $550,500 |
| Murray River - Swan Hill | $415,000 | $415,000 | $420,000 | $425,000 | $429,000 | $425,000 | $430,000 | $420,000 | $435,000 | $430,000 | $420,000 | $438,000 | $430,000 | $445,000 | $450,000 | $445,000 |
How this data is compiled
Suburbtrends compiles transaction, listings and rental records monthly across every SA2, SA3 and SA4 in Australia. Medians and percentiles are calculated on a 12-month rolling basis; vacancy follows the Suburbtrends Vacancy Index methodology (vacant rental listings as a share of total rental stock, rolling 3 months). Development Rates covers completed strata projects of 4–40 dwellings, with each project's site purchase traced through the title record to derive the land component. Thin markets are flagged and 12-month changes suppressed where sample sizes do not support them. Boundaries follow the ABS ASGS Edition 3. This page was last updated with data to May 2026, and is refreshed in the first week of every month.
Kent's research is regularly cited in the Australian Financial Review, news.com.au and industry media. He previously led data science teams at major property data firms and founded Suburbtrends to publish independent, suburb-level market research. Full profile and press citations →