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.
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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.