Suburb Profile Report for Lower Mitcham SA (5062)

Lower Mitcham House: Median price $690,000, Annual capital growth 6.08%, Number of sales 27, Weekly median advertised rent $440

Lower Mitcham Unit: Median price $353,750, Annual capital growth 10.93%, Number of sales 12, Weekly median advertised rent $270

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

Source: CoreLogic

  • House Report
  • Unit Report

SA has seen average median house prices change by 3.22% which means that Lower Mitcham, 5062 has done well for property investors by showing a capital gain of -2.27% over the last year

If we look at median property appreciation over just the last three months, Lower Mitcham has given property investors a paper return of -3.16%. This puts Suburb as 376 on a list of fastest fasting appreciating suburbs in SA

Property buyers and investors in Lower Mitcham 5062 should be seeing an average reduction in asking price of around -4.31% . This means that Lower Mitcham is holding prices well when compared to other suburbs in SA.

Often selling an investment property can take time, and in Lower Mitcham the average time real estate has been on the market is 51.6 days.

Property value increases in Lower Mitcham have tracked lower than the SA average of 4.44% over the last 12 months.

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Lower Mitcham, 5062. Typically our figures indicate that -7.43% is being offered, which puts this SA suburb at 213th most discounted overall in Australia.

Residents and property investors in Lower Mitcham have been waiting around 92.81 days to sell a property.

Renters in Suburb are facing rents around $3240 per annum or $270 every week.

HOUSE UNIT
$690,000 $353,750
-3.16% 0.35%
-2.27% -5.92%
6.08% 10.93%
$440 $270
27 12
3.32% 3.97%
51.6 92.81

Source: CoreLogic

DSR Score for property investment : Above average (U), Good (H)
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Demographics
Total population 2063
Median household income ($/weekly) 1371
Median age of persons 41
Median housing loan repayment ($/monthly) 1733
Average household size 2.4
  • Census Count Percent(%)
    5-14 years 249 12.1
    25-34 years 216 10.5
    35-44 years 281 13.6
    45-54 years 329 15.9
    55-64 years 259 12.6
    Others 729 35.3
    Age Group
    Census Count Percent(%)
    Registered Married 866 55.2
    Not Married 608 38.7
    Defacto Relationship 96 6.1
    Social Marital Status
  • Census Count Percent(%)
    Australia 1637 81.7
    Lebanon 18 0.9
    Papua New Guinea 22 1.1
    United Kingdom 120 6.0
    Other 56 2.8
    Others 151 7.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 15 0.8
    Christianity 1227 64.5
    Hinduism 18 0.9
    Other Religious Groups 17 0.9
    No Religion 605 31.8
    Others 20 1.1
    Religious Affiliation
  • Census Count Percent(%)
    $600-$799 68 9.1
    $1,000-$1,249 67 8.9
    $1,500-$1,999 89 11.9
    $2,000-$2,499 66 8.8
    $2,500-$2,999 78 10.4
    Others 382 50.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 587 35.9
    Not in the labour force 531 32.5
    Employed, worked part-time 419 25.7
    Employed, away from work 61 3.7
    Unemployed, looking for work 35 2.1
    Person Characteristics
  • Census Count Percent(%)
    Managers 145 13.6
    Professionals 381 35.7
    Technicians & trades workers 101 9.5
    Clerical & administrative workers 155 14.5
    Sales 106 9.9
    Others 180 16.9
    Occupation
    Census Count Percent(%)
    Pre-school 42 7.9
    Infants/Primary 188 35.4
    Secondary 121 22.8
    Technical or Further Educational Institution 29 5.5
    University or other Tertiary Institutions 140 26.4
    Others 11 2.1
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1716 87.0
    Semi-detached, row or terrace house, townhouse 174 8.8
    Flat, unit or apartment 83 4.2
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 355 44.2
    Being purchased 298 37.1
    Rented 140 17.4
    Other tenure type 10 1.2
    Tenure Type
Census 2011, ABS
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Recent sales & rentals