Mitcham is in the TOP 30% 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 8.38%.
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.
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.
Over the last year, property investments in Mitcham, 5062 have given investors a capital gain of 1.05%. This compares averagely with the 3.64% for SA as a whole.
Taking the average capital gain, or increase in median house value, Mitcham,5062 has racked up an average of 1.05% over the period. This ranks it number 704th in the whole country for real estate investors looking at median house price increases.
Property investors looking for a bargain in Mitcham should be aiming for at least -10.12% off the asking price, which is the average vendor discount being achieved at the moment.
Often selling an investment property can take time, and in Mitcham the average time real estate has been on the market is 90.5 days.
Property investors should expect to get $300 weekly from the median priced house in this suburb.