Suburb Profile Report for Mitchell Park SA (5043)

Mitchell Park House: Median price $445,000, Annual capital growth 1.75%, Number of sales 87, Weekly median advertised rent $400

Mitchell Park Unit: Median price $347,500, Annual capital growth 3.62%, Number of sales 31, Weekly median advertised rent $300

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

Giving property investors a an average capital gain of 1.14% for the last year, Mitchell Park, 5043 is the 2190th highest performer in Australia in this respect.

Mitchell Park,5043 was ranked 1331 in Australia by increase in median property value over the quarter.

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 -6.07% is being offered, which puts this SA suburb at 1520th most discounted overall in Australia.

Often selling an investment property can take time, and in Mitchell Park the average time real estate has been on the market is 68.41 days.

A $400 per week rent on the median house gives suburb investors a gross yield of circa 4.67%, without taking into account capital value appreciation, which has been averaging out at 1.75%.

If you compare the increase in value of investment property in Mitchell Park, 5043 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this SA suburb was 0.72%.

The five-year average increase in median property values for Mitchell Park,5043 has given property investors a potential capital gain of 38.72% across each of those five years.

Sellers are offering property buyers an average discount of -7.81% to buyers in Mitchell Park at the moment, which is less than average for the rest of SA.

At number 890 in a list of fastest selling suburbs, Mitchell Park is in the bottom 40% of suburbs in Australia with an average of days on market 77.96 for properties listed there.

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

Information supplied by:


September 2017

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

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.

Close
Metrics i HOUSE UNIT
$445,000 $347,500
1.25% -2.11%
1.14% 0.72%
1.75% 3.62%
$400 $300
87 31
4.67% 4.49%
68.41 77.96

Source: CoreLogic

Disclaimer: The data presented here is the latest available data at the time of upload each month. Please note that data is routinely updated by our partners, so may change month to month.

DSR Score for property investment : 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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