SA has seen average median house prices change by 2.92% which means that Lower Mitcham, 5062 has done well for property investors by showing a capital gain of -8.98% over the last year
Across a shorter period, Lower Mitcham, 5062 has seen a median price increase of -8.01% over the last quarter.
Property investors looking for a bargain in Lower Mitcham should be aiming for at least -2.71% off the asking price, which is the average vendor discount being achieved at the moment.
On average over the past year, suburb has had 2.08 sales per month, which equates to 25 per year.
With the median price for a house in Lower Mitcham being $646220 and the advertised rent reaching $420 the gross rental yield for property investors calculates out to be 3.38%
With a capital gain of -6.25% for the last 12 months, Lower Mitcham, 5062 has performed for property investments than its average annual -5.32% property growth over the last 5 years.
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 -7.36% is being offered, which puts this SA suburb at 228th most discounted overall in Australia.
Lower Mitcham is 143th on a list of best yielding suburbs for rents in SA with a 4.24% return