Mitchelton has had a pretty good year for property investment returns compared to the rest of QLD, giving investors a capital gain of 5.28% to date .
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Mitchelton has increased when compared to the 5 year average annual rate.
The most recent median price for Mitchelton is $620000, with sellers offering an average of -3.30% off the asking price.
Property investors should expect to get $445 weekly from the median priced house in this suburb.
Giving property investors a an average capital gain of 4.82% for the last year, Mitchelton, 4053 is the 700th highest performer in Australia in this respect.
While Mitchelton,4053 ranked number 94th in QLD for increase in median house value (annualised) increase, it is ranked 66th over the last 5 years.
Property investors looking for a bargain in Mitchelton should be aiming for at least -2.08% off the asking price, which is the average vendor discount being achieved at the moment.
On average over the past year, suburb has had 2.92 sales per month, which equates to 35 per year.
A $400 per week rent on the median house gives suburb investors a gross yield of circa 4.78%, without taking into account capital value appreciation, which has been averaging out at 5.12%.