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%
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Tight squeeze in hill suburb
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.