Suburb Profile Report for Mitcham VIC (3132)

Mitcham House: Median price $939,900, Annual capital growth 10.09%, Number of sales 180, Weekly median advertised rent $420

Mitcham Unit: Median price $637,000, Annual capital growth 7.30%, Number of sales 106, Weekly median advertised rent $370

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Property value increases in Mitcham have tracked just lower than the VIC average of 9.04% over the last 12 months.

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.

Vendor discounting in Mitcham is giving property investors an average Vendor Discount of around -6.25%. This puts suburb at number 201th in VIC when ranking the most discounted suburbs.

Using the current median advertised rental of $420 and the average annual increase in value of a median property of 10.09%, investors should hope to achieve an overall return of 2.32%

VIC has seen average median house prices change by 4.28% which means that Mitcham, 3132 has done well for property investors by showing a capital gain of 0.31% over the last year

Over the longer term, Mitcham has seen property prices show investors a 28.82% return over the last 3 years. This is worse than over the last 12 months

Property investors looking for a bargain in Mitcham should be aiming for at least -4.17% off the asking price, which is the average vendor discount being achieved at the moment.

Using the current median advertised rental of $370 and the average annual increase in value of a median property of 7.30%, investors should hope to achieve an overall return of 3.02%

Dane Seeley Information supplied by:

Dane Seeley
Philip Webb

M 0413 957 365
O 9874 3355

W http://www.philipwebb.com.au/
E dseeley@philipwebb.com.au
Mitcham is a popular leafy suburb where many people of all ages aspire to live.

With excellent shops, schooling (four primary, one secondary), public transport plus parks and bushland walking tracks. Full summary
Mitcham is a popular leafy suburb where many people of all ages aspire to live. 
 
With excellent shops, schooling (four primary, one secondary), public transport plus parks and bushland walking tracks. 
 
Selling points: 
Excellent schools, great transport lines via train and bus and only 25 minutes to the CBD, sought after location.
 
Most sought-after properties: 
Period style weatherboard homes.
4 bedroom homes, single level townhouses for downsizing.
 
Most common properties:  
3 bedroom brick veneer homes.
3 bedroom character weatherboard homes.
 
Top amenities: 
Britannia Mall shopping, Rangeview Shops, Mitcham train station, Halliday Park, schooling.
 
Local industry and business:
Factory warehouse outlets on Maroondah Hwy.
AAMI office on Mitcham Road.
Several local cafes.
 
Recent changes: 
Upgrades to Mitcham train station and surrounds.
Aspiring buyers from the city renovating, extending or demolishing to develop.
Apartment buildings
 
Best streets: 
Glenburnie, Fellows, Owen, Premier, Alwyn, Rosstrevor, Halls, Walker
 
Public transport: 
Mitcham & Heatherdale train station, buses.
 
Main arteries: 
Whitehorse Road, Mitcham Road, Doncaster East Road, Canterbury Road, moments from Eastlink.
Close
Metrics i HOUSE UNIT
$939,900 $637,000
0.00% 5.55%
4.43% 0.31%
10.09% 7.30%
$420 $370
180 106
2.32% 3.02%
48.2 68.23

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
Find a mortgage broker in Mitcham VIC
Demographics
Total population 14812
Median household income ($/weekly) 1424
Median age of persons 38
Median housing loan repayment ($/monthly) 1896
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 1736 11.7
    25-34 years 2220 15.0
    35-44 years 2513 17.0
    45-54 years 1935 13.1
    55-64 years 1571 10.6
    Others 4837 32.7
    Age Group
    Census Count Percent(%)
    Registered Married 5906 52.9
    Not Married 4410 39.5
    Defacto Relationship 855 7.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 10167 71.3
    Croatia 627 4.4
    Indonesia 342 2.4
    United Kingdom 618 4.3
    Other 539 3.8
    Others 1959 13.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 586 4.3
    Christianity 8007 58.8
    Hinduism 265 1.9
    Other Religious Groups 188 1.4
    No Religion 4408 32.4
    Others 169 1.2
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 450 8.7
    $600-$799 451 8.7
    $1,500-$1,999 711 13.7
    $2,000-$2,499 540 10.4
    $2,500-$2,999 561 10.8
    Others 2467 47.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 4755 41.1
    Not in the labour force 3739 32.3
    Employed, worked part-time 2307 19.9
    Employed, away from work 417 3.6
    Unemployed, looking for work 353 3.1
    Person Characteristics
  • Census Count Percent(%)
    Managers 925 12.4
    Professionals 2262 30.2
    Technicians & trades workers 916 12.2
    Clerical & administrative workers 1220 16.3
    Sales 707 9.5
    Others 1450 19.4
    Occupation
    Census Count Percent(%)
    Pre-school 345 9.8
    Infants/Primary 1163 32.9
    Secondary 828 23.5
    Technical or Further Educational Institution 334 9.5
    University or other Tertiary Institutions 711 20.1
    Others 149 4.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 10840 77.2
    Semi-detached, row or terrace house, townhouse 2466 17.6
    Flat, unit or apartment 738 5.3
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 2117 38.3
    Fully owned 2019 36.5
    Rented 1360 24.6
    Other tenure type 31 0.6
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals