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