Property investors who have had real estate in Lower Mitcham, 5062 should be relatively pleased with this SA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 12.70%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Lower Mitcham has increased when compared to the 5 year average annual rate.
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 -5.11% is being offered, which puts this SA suburb at 2436th most discounted overall in Australia.
In the last year 37 properties changed hands in Lower Mitcham, which puts it as the 258th most active market in SA when comparing the number of sales per suburb.
Property investors should expect to get $465 weekly from the median priced house in this suburb.
At number 969th in the list of Australian suburbs ordered by increase in median house value over the last year, Lower Mitcham, 5062 is in the BOTTOM 50% with a property value increase of 2.53% recorded in median house prices.
Lower Mitcham,5062 was ranked 1624 in Australia by increase in median property value over the quarter.
State is the 3rd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.06% offered to property buyers. Sellers in Lower Mitcham itself are offering an average vendor discount of -6.96% to real estate investors.
Residents and property investors in Lower Mitcham have been waiting around 73 days to sell a property.
A $255 per week rent on the median house gives suburb investors a gross yield of circa 3.44%, without taking into account capital value appreciation, which has been averaging out at 13.72%.