At number 3076th in the list of Australian suburbs ordered by increase in median house value over the last year, Mitcham, 5062 is in the BOTTOM 30% with a property value increase of -0.12% recorded in median house prices.
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.
LACK OF BUYER INTEREST may well be the reason that Mitcham is offering property investors an average of -6.34. This rate of discount on properties puts Suburb at number 48th in terms of most discounted suburbs in SA
On average over the past year, suburb has had 2.00 sales per month, which equates to 24 per year.
A $450 per week rent on the median house gives suburb investors a gross yield of circa 2.82%, without taking into account capital value appreciation, which has been averaging out at 6.24%.
Mitcham is an average performer in SA when comparing median price capital growth over the last year. Mitcham gave property investors a good capital gain figure when compared to the rest of the state, with 6.17%.
Over the longer term, Mitcham has seen property prices show investors a -4.09% return over the last 3 years. This is an improvement over the last 12 months
Vendor discounting in Mitcham is giving property investors an average Vendor Discount of around -9.64%. This puts suburb at number 13th in SA when ranking the most discounted suburbs.
Advertised rents are around the $312.5 mark per week – giving a return of 4.02% based on the median price in Suburb