Investment property in Mitcham has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 2.57%
While Mitcham,5062 ranked number 411th in SA for increase in median house value (annualised) increase, it is ranked 362th over the last 5 years.
The most recent median price for Mitcham is $759000, with sellers offering an average of -8.97% off the asking price.
On average over the past year, suburb has had 2.00 sales per month, which equates to 24 per year.
Advertised rents are around the $450 mark per week – giving a return of 3.08% based on the median price in Suburb
Over the last year, property investments in Mitcham, 5062 have given investors a capital gain of -22.68%. This compares very badly with the 4.44% for SA as a whole.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Mitcham has increased when compared to the 5 year average annual rate.
Mitcham, 5062 is offering SA ‘s 11th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 10% of discounts offered by this SA.
With the median price for a house in Mitcham being $375000 and the advertised rent reaching $312.5 the gross rental yield for property investors calculates out to be 4.33%