Suburb Profile Report for Mitchell Park SA (5043)

Mitchell Park House: Median price $450,000, Annual capital growth 0.69%, Number of sales 67, Weekly median advertised rent $438

Mitchell Park Unit: Median price $300,000, Annual capital growth 1.70%, Number of sales 23, Weekly median advertised rent $330

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

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

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  • House Report
  • Unit Report

Mitchell Park has had a quite poor year for property investment returns compared to the rest of SA, giving investors a capital gain of -2.17% to date .

When looking at the potential capital gains offered to property investors over the last 3 years, Mitchell Park comes in at number 316th in SA.

State is the 4th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.78% offered to property buyers. Sellers in Mitchell Park itself are offering an average vendor discount of -8.02% to real estate investors.

Residents and property investors in Mitchell Park have been waiting around 61.775 days to sell a property.

Over the last year, property investments in Mitchell Park, 5043 have given investors a capital gain of -0.99%. This compares favourably with the -1.75% for SA as a whole.

A 15.72% growth in median value for property investors in Mitchell Park,5043 puts this suburb at number 38th in terms of best performing suburbs in SA

In the last year 23 properties changed hands in Mitchell Park, which puts it as the 30th most active market in SA when comparing the number of sales per suburb.

Information supplied by:


September 2017

M
O

W
E

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.

Metrics i HOUSE UNIT
$450,000 $300,000
-0.22% 0.00%
-2.17% -0.99%
0.69% 1.70%
$438 $330
67 23
5.06% 5.72%
61.775 77.6470588235294

Source: Monthly data update for Nov 2020 as supplied by CoreLogic. Data is reported to the period ending Aug 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 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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