Giving property investors a an average capital gain of 1.14% for the last year, Mitchell Park, 5043 is the 2190th highest performer in Australia in this respect.
Mitchell Park,5043 was ranked 1331 in Australia by increase in median property value over the quarter.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Mitchell Park, 5043. Typically our figures indicate that -6.07% is being offered, which puts this SA suburb at 1520th most discounted overall in Australia.
Often selling an investment property can take time, and in Mitchell Park the average time real estate has been on the market is 68.41 days.
A $400 per week rent on the median house gives suburb investors a gross yield of circa 4.67%, without taking into account capital value appreciation, which has been averaging out at 1.75%.
If you compare the increase in value of investment property in Mitchell Park, 5043 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this SA suburb was 0.72%.
The five-year average increase in median property values for Mitchell Park,5043 has given property investors a potential capital gain of 38.72% across each of those five years.
Sellers are offering property buyers an average discount of -7.81% to buyers in Mitchell Park at the moment, which is less than average for the rest of SA.
At number 890 in a list of fastest selling suburbs, Mitchell Park is in the bottom 40% of suburbs in Australia with an average of days on market 77.96 for properties listed there.
The SA suburb of Mitchell Park, 5043 is in the Marion (C) local government area.
About 10km south of Adelaide, the suburb of Mitchell Park is struggling to maintain demand.Full summary
Information supplied by:
Unit market is shaken
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