Suburb Profile Report for Mitchelton QLD (4053)

Mitchelton House: Median price $642,500, Annual capital growth 3.65%, Number of sales 144, Weekly median advertised rent $450

Mitchelton Unit: Median price $426,000, Annual capital growth 2.61%, Number of sales 48, Weekly median advertised rent $400

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

With a capital gain of 1.58% for the last 12 months, Mitchelton, 4053 has performed for property investments than its average annual 3.65% property growth over the last 5 years.

Across a shorter period, Mitchelton, 4053 has seen a median price increase of 0.39% over the last quarter.

Vendor discounting in Mitchelton is giving property investors an average Vendor Discount of around -3.61%. This puts suburb at number 799th in QLD when ranking the most discounted suburbs.

The QLD suburb of Mitchelton, 4053 is in the Brisbane local government area.

At number 1281th in the list of Australian suburbs ordered by increase in median house value over the last year, Mitchelton, 4053 is in the BOTTOM 30% with a property value increase of -3.18% recorded in median house prices.

Across a shorter period, Mitchelton, 4053 has seen a median price increase of -1.22% over the last quarter.

Mitchelton4053 is located in QLD which offers an average discount of -5.78% to property investors. Mitchelton itself is showing figures that indicate -5.00% is the average achievable by property buyers investing in the suburb.

On average over the past year, suburb has had 4.00 sales per month, which equates to 48 per year.

Property investors should expect to get $400 weekly from the median priced house in this suburb.

Information supplied by:


December 2017

M
O

W
E
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
$642,500 $426,000
0.39% -1.22%
1.58% -3.18%
3.65% 2.61%
$450 $400
144 48
3.64% 4.88%
47.34 94.57

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
Chart Table
Recent sales & rentals