Suburb Profile Report for Mitchell Park SA (5043)

Mitchell Park House: Median price $465,000, Annual capital growth 2.52%, Number of sales 66, Weekly median advertised rent $400

Mitchell Park Unit: Median price $399,000, Annual capital growth 4.51%, Number of sales 77, Weekly median advertised rent $323

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

Property value increases in Mitchell Park have tracked just lower than the SA average of 2.55% over the last 12 months.

Mitchell Park,5043 has offered an average of 0.00% return per annum in house price rises to property investors over the last three years.

Our latest figures would indicate that property sellers in Mitchell Park are currently offering property investors an average price cut of -4.98% below the asking price at the moment.

The SA suburb of Mitchell Park, 5043 is in the Marion local government area.

Property investors who have had real estate in Mitchell Park, 5043 should be pleased with this SA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 16.50%

While Mitchell Park,5043 ranked number 98th in SA for increase in median house value (annualised) increase, it is ranked 36th over the last 5 years.

Vendor discounting in Mitchell Park is giving property investors an average Vendor Discount of around -6.73%. This puts suburb at number 44th in SA when ranking the most discounted suburbs.

Mitchell Park, 5043’s gross rental yield is 4.20%

Information supplied by:


September 2017

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About 10km south of Adelaide, the suburb of Mitchell Park is struggling to maintain demand.Full summary

Unit market is shaken

Postcode: 5043

Median unit price: $325,000

Three-year growth: 17.3%

Rental yield: 4.8%

About 10km south of Adelaide, the suburb of Mitchell Park is struggling to maintain demand.

Apartment values nosedived by nearly 15% over the past year leading up to July 2017, with the June 2017 quarter alone showing a 12% decline. This leaves the median unit price at a very low $325,000.

Nonetheless, properties are not exactly languishing on the market as they sell by an average of 57 days after being put on sale. Moreover, rental returns are strong at 4.8%. Thus, even with the suburb’s poor growth, vacancy rates are actually tightening to an average of just 1.01%

Mitchell Park has its own railway station, and is surrounded by suburbs like Marion, which is rich in amenities like schools, parks and public transport.

Close
Metrics i HOUSE UNIT
$465,000 $399,000
1.09% -0.25%
0.00% 16.50%
2.52% 4.51%
$400 $323
66 77
4.47% 4.20%
63.51 89.73

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
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Demographics
Total population 5206
Median household income ($/weekly) 787
Median age of persons 38
Median housing loan repayment ($/monthly) 1529
Average household size 2.1
  • Census Count Percent(%)
    25-34 years 859 16.5
    35-44 years 643 12.4
    45-54 years 621 11.9
    55-64 years 590 11.3
    65-74 years 502 9.6
    Others 1991 38.2
    Age Group
    Census Count Percent(%)
    Not Married 2111 52.4
    Registered Married 1590 39.4
    Defacto Relationship 331 8.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 3364 69.1
    Croatia 121 2.5
    Indonesia 135 2.8
    United Kingdom 275 5.7
    Other 345 7.1
    Others 626 12.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 160 3.5
    Christianity 2742 59.3
    Hinduism 89 1.9
    Islam 249 5.4
    No Religion 1302 28.1
    Others 84 1.8
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 303 14.5
    $400-$599 262 12.5
    $600-$799 274 13.1
    $800-$999 203 9.7
    $1,500-$1,999 203 9.7
    Others 845 40.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1869 45.4
    Employed, worked full-time 1230 29.9
    Employed, worked part-time 693 16.8
    Unemployed, looking for work 173 4.2
    Employed, away from work 153 3.7
    Person Characteristics
  • Census Count Percent(%)
    Professionals 446 21.5
    Technicians & trades workers 255 12.3
    Community & personal service workers 254 12.3
    Clerical & administrative workers 327 15.8
    Labourers 249 12.0
    Others 542 26.1
    Occupation
    Census Count Percent(%)
    Pre-school 65 5.7
    Infants/Primary 334 29.5
    Secondary 226 19.9
    Technical or Further Educational Institution 121 10.7
    University or other Tertiary Institutions 334 29.5
    Others 54 4.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3373 69.3
    Semi-detached, row or terrace house, townhouse 994 20.4
    Flat, unit or apartment 501 10.3
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1079 48.6
    Being purchased 565 25.4
    Fully owned 558 25.1
    Other tenure type 19 0.9
    Tenure Type
Census 2011, ABS
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