Suburb Profile Report for Mitchell Park SA (5043)

Mitchell Park House: Median price $504,000, Annual capital growth 2.17%, Number of sales 73, Weekly median advertised rent $420

Mitchell Park Unit: Median price $320,000, Annual capital growth 1.74%, Number of sales 30, Weekly median advertised rent $325

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

Source: Monthly data update for Sep 2021 as supplied by CoreLogic. Data is reported to the period ending Jun 2021. Please note that property sales data is routinely updated, so may change retrospectively.

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Giving property investors a an unimpressive capital gain of 9.70% for the last year, Mitchell Park, 5043 is the 2691th highest performer in Australia in this respect.

When looking at the potential capital gains offered to property investors over the last 3 years, Mitchell Park comes in at number 162th in SA.

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 -3.10% is being offered, which puts this SA suburb at 2198th most discounted overall in Australia.

Residents and property investors in Mitchell Park have been waiting around 61.5 days to sell a property.

A $420 per week rent on the median house gives suburb investors a gross yield of circa 4.33%, without taking into account capital value appreciation, which has been averaging out at 2.17%.

Mitchell Park, 5043 ranked 6th in SA when comparing growth in median property values or capital gain over the last 12 months. Mitchell Park is one of 853 in our list for SA

Taking the average capital gain, or increase in median house value, Mitchell Park,5043 has racked up an average of 29.03% over the period. This ranks it number 1183th in the whole country for real estate investors looking at median house price increases.

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

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
$504,000 $320,000
5.55% 6.67%
9.70% 29.03%
2.17% 1.74%
$420 $325
73 30
4.33% 5.28%
61.5 39.9047619047619

Source: Monthly data update for Sep 2021 as supplied by CoreLogic. Data is reported to the period ending Jun 2021. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Very good (H), Above average (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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