Suburb Profile Report for Mitchelton QLD (4053)

Mitchelton House: Median price $664,000, Annual capital growth 3.90%, Number of sales 136, Weekly median advertised rent $468

Mitchelton Unit: Median price $426,750, Annual capital growth 2.92%, Number of sales 24, Weekly median advertised rent $400

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

Source: Monthly data update for May 2019 as supplied by CoreLogic. Data is reported to the period ending Feb 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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Property value increases in Mitchelton have tracked just higher than the QLD average of 2.00% over the last 12 months.

While Mitchelton,4053 ranked number 619th in QLD for increase in median house value (annualised) increase, it is ranked 149th over the last 5 years.

Mitchelton, 4053 is offering QLD ‘s 685th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 10% of discounts offered by this QLD.

In the last year 138 properties changed hands in Mitchelton, which puts it as the 124th most active market in QLD when comparing the number of sales per suburb.

With the median price for a house in Mitchelton being $661000 and the advertised rent reaching $460 the gross rental yield for property investors calculates out to be 3.62%

Investment property in Mitchelton has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -3.17%

When looking at the potential capital gains offered to property investors over the last 3 years, Mitchelton comes in at number 172th in QLD.

Mitchelton, 4053 is offering QLD ‘s 187th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 30% of discounts offered by this QLD.

With the median price for a house in Mitchelton being $420000 and the advertised rent reaching $400 the gross rental yield for property investors calculates out to be 4.95%

Information supplied by:


December 2017

M
O

W
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Tight squeeze in hill suburb

Postcode: 4053

Median unit price: $440,000

Vacancy rate: 1.6%

Three-year growth: 19.4%

Mitchelton, a hilly suburb 8km north-west of the Brisbane CBD, is known for its Queenslander-style homes. Although it’s a growth area, popular with families and home to Brookside Shopping Centre, the largest in Brisbane’s north-west, the property market in Mitchelton has ground to a halt, with houses gaining just 2.3% over the past year, and units a mere 0.6%.

The current median house price in $635,000, while the average unit is selling for $440,000.  However, rental yields are strong, with units averaging 4.7% and houses 3.6%. The median advertised rent for units is $400 per week, while for houses it is $440 per week, and with a vacancy rate of just 1.6%, it’s proving to be a great choice for investors. 

Metrics i HOUSE UNIT
$664,000 $426,750
-0.60% 0.06%
3.75% 0.18%
3.90% 2.92%
$468 $400
136 24
3.66% 4.87%
37.2233 63.285713

Source: Monthly data update for May 2019 as supplied by CoreLogic. Data is reported to the period ending Feb 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Above average (U)
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Demographics
Total population 8011
Median household income ($/weekly) 1578
Median age of persons 35
Median housing loan repayment ($/monthly) 2212
Average household size 2.6
  • Census Count Percent(%)
    0-4 years 717 8.9
    5-14 years 956 11.9
    25-34 years 1262 15.8
    35-44 years 1319 16.5
    45-54 years 964 12.0
    Others 2794 34.9
    Age Group
    Census Count Percent(%)
    Registered Married 2733 47.8
    Not Married 2330 40.8
    Defacto Relationship 654 11.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 6399 83.1
    Papua New Guinea 207 2.7
    United Kingdom 370 4.8
    United States of America 61 0.8
    Other 215 2.8
    Others 446 5.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 86 1.2
    Christianity 5174 71.1
    Hinduism 43 0.6
    Other Religious Groups 34 0.5
    No Religion 1928 26.5
    Others 17 0.2
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 209 7.8
    $1,250-$1,499 218 8.1
    $1,500-$1,999 367 13.6
    $2,000-$2,499 302 11.2
    $2,500-$2,999 287 10.6
    Others 1313 48.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2646 43.2
    Not in the labour force 1916 31.3
    Employed, worked part-time 1154 18.9
    Employed, away from work 250 4.1
    Unemployed, looking for work 156 2.5
    Person Characteristics
  • Census Count Percent(%)
    Managers 499 12.3
    Professionals 1200 29.7
    Technicians & trades workers 469 11.6
    Community & personal service workers 481 11.9
    Clerical & administrative workers 693 17.1
    Others 703 17.4
    Occupation
    Census Count Percent(%)
    Pre-school 134 7.5
    Infants/Primary 694 38.7
    Secondary 369 20.6
    Technical or Further Educational Institution 122 6.8
    University or other Tertiary Institutions 403 22.5
    Others 69 3.9
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 6718 89.6
    Semi-detached, row or terrace house, townhouse 394 5.3
    Flat, unit or apartment 389 5.2
    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 1052 36.0
    Rented 976 33.4
    Fully owned 862 29.5
    Other tenure type 35 1.2
    Tenure Type
Census 2011, ABS
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