Suburb Profile Report for Mitchelton QLD (4053)

Mitchelton House: Median price $650,000, Annual capital growth 3.61%, Number of sales 124, Weekly median advertised rent $450

Mitchelton Unit: Median price $428,500, Annual capital growth 2.73%, Number of sales 40, Weekly median advertised rent $400

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

Mitchelton has had a pretty average year for property investment returns compared to the rest of QLD, giving investors a capital gain of 2.36% to date .

While Mitchelton,4053 ranked number 248th in QLD for increase in median house value (annualised) increase, it is ranked 149th over the last 5 years.

Property investors looking for a bargain in Mitchelton should be aiming for at least -3.71% off the asking price, which is the average vendor discount being achieved at the moment.

Residents and property investors in Mitchelton have been waiting around 45.61 days to sell a property.

Mitchelton is 625th on a list of best yielding suburbs for rents in QLD with a 3.60% return

At number 1203th in the list of Australian suburbs ordered by increase in median house value over the last year, Mitchelton, 4053 is in the BOTTOM 40% with a property value increase of -2.61% recorded in median house prices.

Over the longer term, Mitchelton has seen property prices show investors a 2.02% return over the last 3 years. This is worse than over the last 12 months

Mitchelton4053 is located in QLD which offers an average discount of -5.73% to property investors. Mitchelton itself is showing figures that indicate -4.72% is the average achievable by property buyers investing in the suburb.

With the median price for a house in Mitchelton being $428500 and the advertised rent reaching $400 the gross rental yield for property investors calculates out to be 4.85%

Information supplied by:


December 2017

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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%Full summary

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. 

Close
Metrics i HOUSE UNIT
$650,000 $428,500
1.56% 0.06%
2.36% -2.61%
3.61% 2.73%
$450 $400
124 40
3.60% 4.85%
45.61 89.79

Source: CoreLogic

DSR Score for property investment : Above average (H), Above average (U)
Find a mortgage broker in Mitchelton QLD
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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Recent sales & rentals