With a capital gain of 8.38% for the last 12 months, Mitcham, 5062 has performed for property investments than its average annual 5.52% property growth over the last 5 years.
Taking the average capital gain, or increase in median house value, Mitcham,5062 has racked up an average of 8.38% over the period. This ranks it number 1253th in the whole country for real estate investors looking at median house price increases.
Sellers are offering property buyers an average discount of -10.32% to buyers in Mitcham at the moment, which is less than average for the rest of SA.
At number 3509 in a list of fastest selling suburbs, Mitcham is in the bottom 10% of suburbs in Australia with an average of days on market 140.2 for properties listed there.
Situated 6.27km from the CBD, Mitcham is one of Mitcham localities in the postcode 5062.
If you compare the increase in value of investment property in Mitcham, 5062 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this SA suburb was 8.00%.
A 28.57% growth in median value for property investors in Mitcham,5062 puts this suburb at number 30th in terms of best performing suburbs in SA
Property buyers and investors in Mitcham 5062 should be seeing an average reduction in asking price of around -9.48% . This means that Mitcham is holding prices well when compared to other suburbs in SA.
On average over the past year, suburb has had 1.42 sales per month, which equates to 17 per year.
Using the current median advertised rental of $290 and the average annual increase in value of a median property of 6.05%, investors should hope to achieve an overall return of 3.72%