Suburb Profile Report for Mitchelton QLD (4053)

Mitchelton House: Median price $665,000, Annual capital growth 3.05%, Number of sales 128, Weekly median advertised rent $480

Mitchelton Unit: Median price $407,000, Annual capital growth 5.12%, Number of sales 19, Weekly median advertised rent $400

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

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

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  • House Report
  • Unit Report

Mitchelton has had a pretty average year for property investment returns compared to the rest of QLD, giving investors a capital gain of 0.45% to date .

The five-year average increase in median property values for Mitchelton,4053 has given property investors a potential capital gain of 18.75% across each of those five years.

Property investors looking for a bargain in Mitchelton should be aiming for at least -3.67% off the asking price, which is the average vendor discount being achieved at the moment.

Situated 8.50km from the CBD, Mitchelton is one of Brisbane (C) localities in the postcode 4053.

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 -4.68%

Mitchelton,4053 was ranked 789 in Australia by increase in median property value over the quarter.

State is the 4th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.19% offered to property buyers. Sellers in Mitchelton itself are offering an average vendor discount of -7.98% to real estate investors.

Residents and property investors in Mitchelton have been waiting around 107.368 days to sell a property.

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

Information supplied by:


December 2017

M
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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
$665,000 $407,000
0.30% 0.49%
0.45% -4.68%
3.05% 5.12%
$480 $400
128 19
3.75% 5.11%
47.4230769230769 107.368421052632

Source: Monthly data update for May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Good (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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