Suburb Profile Report for Lower Mitcham SA (5062)

Lower Mitcham House: Median price $712,500, Annual capital growth 7.28%, Number of sales 35, Weekly median advertised rent $465

Lower Mitcham Unit: Median price $352,500, Annual capital growth 10.96%, Number of sales 14, Weekly median advertised rent $255

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

Source: CoreLogic

  • House Report
  • Unit Report

Investment property in Lower Mitcham has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 13.28%

If we look at median property appreciation over just the last three months, Lower Mitcham has given property investors a paper return of 0.35%. This puts Suburb as 223 on a list of fastest fasting appreciating suburbs in SA

Vendor discounting in Lower Mitcham is giving property investors an average Vendor Discount of around -4.31%. This puts suburb at number 335th in SA when ranking the most discounted suburbs.

Investment property in Lower Mitcham has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -7.36%

While Lower Mitcham,5062 ranked number 159th in SA for increase in median house value (annualised) increase, it is ranked 153th over the last 5 years.

Lower Mitcham, 5062 is offering SA ‘s 41th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 30% of discounts offered by this SA.

Residents and property investors in Lower Mitcham have been waiting around 84.23 days to sell a property.

A $255 per week rent on the median house gives suburb investors a gross yield of circa 3.76%, without taking into account capital value appreciation, which has been averaging out at 10.96%.

HOUSE UNIT
$712,500 $352,500
0.35% -8.44%
13.28% -7.36%
7.28% 10.96%
$465 $255
35 14
3.39% 3.76%
45.16 84.23

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