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:
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.