Suburb Profile Report for Mitchell Park SA (5043)

Mitchell Park House: Median price $465,000, Annual capital growth 3.97%, Number of sales 66, Weekly median advertised rent $380

Mitchell Park Unit: Median price $343,750, Annual capital growth 5.01%, Number of sales 46, Weekly median advertised rent $310

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Mitchell Park, 5043 ranked 177th in SA when comparing growth in median property values or capital gain over the last 12 months. Mitchell Park is one of 853 in our list for SA

Taking the average capital gain, or increase in median house value, Mitchell Park,5043 has racked up an average of 5.32% over the period. This ranks it number 2628th in the whole country for real estate investors looking at median house price increases.

At number 334th of SA’s most discounted properties, Mitchell Park is in the TOP 20% of the state/territory when listing in order of most discounted to least.

On average over the past year, suburb has had 5.50 sales per month, which equates to 66 per year.

Using the current median advertised rental of $380 and the average annual increase in value of a median property of 3.97%, investors should hope to achieve an overall return of 4.25%

Giving property investors a a poor capital gain of -12.42% for the last year, Mitchell Park, 5043 is the 1583th highest performer in Australia in this respect.

Comparing Mitchell Park,5043 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

The most recent median price for Mitchell Park is $343750, with sellers offering an average of -4.44% off the asking price.

With the median price for a house in Mitchell Park being $343750 and the advertised rent reaching $310 the gross rental yield for property investors calculates out to be 4.69%

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Mitchell Park was picked out by APM as one to watch, thanks to its consistently strong performance: 11.5% growth in the 12 months to March and 11.2% average annual growth over the past 10 years. Going by these stats, its median house price has gone up by $42,500 in one year to reach $412,500. Full summary

Mitchell Park was picked out by APM as one to watch, thanks to its consistently strong capital growth performance.

Capital growth should also be fuelled in the medium to long-term by local initiatives, such as the redevelopment of the Marion Westfield and the new billion dollar Tonsley Park precinct. This second project in particular will be of interest to investors. Right next door to Mitchell Park, Tonsley Park’s state government sponsored mission is to create thousands of new jobs and attract 8,000 students to its $125m education centre.

While it’s a good 10km south-west of the CBD, Mitchell Park has good accessibility thanks to the Tonsley railway line and Marion Road, both of which can get residents into the city in around 20 minutes.

It’s an area that has gone through a substantial redevelopment programme in recent years, says Magain Real Estate sales consultant Andrew Boswell, with former South Australian Housing Trust maisonettes being sold off to private developers. Areas such as Bahloo Avenue, McFarlane Avenue and Merchant Avenue have been transformed as a result.

“There are also new developments going on that are attracting young professionals and what’s left of the first homebuyer market,” he says, pointing to David Avenue and Richard Avenue as a couple of areas to watch.

The area does well for local amenities, with the Park Holme Shopping Centre being within walking distance and Brighton and Glenelg Beaches being a short drive away. Local schools include Hamilton Secondary School, Sacred Heart Middle School and Clovelly Park Primary.

Flinders University, the Flinders Medical Centre and Flinders Private Hospital are also all within a couple of kilometres, while the recently completed state swimming centre is bringing in enquiries from parents who are looking to move close to their child’s training facility, says Boswell.

He notes that the suburb’s currently attracting a high proportion of investors and young families, pointing out that there are still a lot of properties on 650 to 700 m2 blocks that have room for children but also scope for development.

The rental market here is strong, he adds: “There’s good access to the city and the bay, so we don’t have much of a problem finding good tenants here.”

The proportion of renters in the suburb came in at 36% during the 2006 Census. This figure is expected by SQM Research to skyrocket to 49% by 2016, suggesting that – if the area’s vacancy rate stays low – rents will be pushed north in the coming years.

Metrics i HOUSE UNIT
$465,000 $343,750
-0.64% 7.76%
5.32% -12.42%
3.97% 5.01%
$380 $310
66 46
4.25% 4.69%
46.53 73.7

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (U)
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Total population 5206
Median household income ($/weekly) 787
Median age of persons 38
Median housing loan repayment ($/monthly) 1529
Average household size 2.1
  • Census Count Percent(%)
    25-34 years 859 16.5
    35-44 years 643 12.4
    45-54 years 621 11.9
    55-64 years 590 11.3
    65-74 years 502 9.6
    Others 1991 38.2
    Age Group
    Census Count Percent(%)
    Not Married 2111 52.4
    Registered Married 1590 39.4
    Defacto Relationship 331 8.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 3364 69.1
    Croatia 121 2.5
    Indonesia 135 2.8
    United Kingdom 275 5.7
    Other 345 7.1
    Others 626 12.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 160 3.5
    Christianity 2742 59.3
    Hinduism 89 1.9
    Islam 249 5.4
    No Religion 1302 28.1
    Others 84 1.8
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 303 14.5
    $400-$599 262 12.5
    $600-$799 274 13.1
    $800-$999 203 9.7
    $1,500-$1,999 203 9.7
    Others 845 40.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1869 45.4
    Employed, worked full-time 1230 29.9
    Employed, worked part-time 693 16.8
    Unemployed, looking for work 173 4.2
    Employed, away from work 153 3.7
    Person Characteristics
  • Census Count Percent(%)
    Professionals 446 21.5
    Technicians & trades workers 255 12.3
    Community & personal service workers 254 12.3
    Clerical & administrative workers 327 15.8
    Labourers 249 12.0
    Others 542 26.1
    Census Count Percent(%)
    Pre-school 65 5.7
    Infants/Primary 334 29.5
    Secondary 226 19.9
    Technical or Further Educational Institution 121 10.7
    University or other Tertiary Institutions 334 29.5
    Others 54 4.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3373 69.3
    Semi-detached, row or terrace house, townhouse 994 20.4
    Flat, unit or apartment 501 10.3
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1079 48.6
    Being purchased 565 25.4
    Fully owned 558 25.1
    Other tenure type 19 0.9
    Tenure Type
Census 2011, ABS
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