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Mitchell Park
AREA REPORTS

Mitchell Park

Mitchell Park - SUBURB PROFILE REPORT
POSTAL CODE: SA, 5043

house
unit

MITCHELL PARK, 5043 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Average median house prices in SA have risen as a whole, pulling MITCHELL PARK, 5043 values up and netting property investors a capital gain of 17.83% for the past year.

Investors saw the median home price rise to $555,000.

Profits due to an upward trend in home prices in the suburb averaged 8.24% per annum over a 3-year period.

MITCHELL PARK now ranks at the 245th place on a list of fastest growing suburbs in the territory.

Figures from the previous quarter show that capital gains for real estate buyers in MITCHELL PARK are high, as opposed to average gains per annum over the past five years.

Because of this real estate investors could earn a rental income of $437.5 based on current median home prices.

Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In MITCHELL PARK, homes and units usually stay on listing for an average of 44.5 days.

In 2016, 82 properties were sold in MITCHELL PARK during the past year, making it the 24th most active market in SA based on total real estate transactions.

Data report can be found below

Mitchell Park
KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $555,000 $322,500
GROWTH REPORT
Median Quarterly 5.71% -0.77%
Median 12 month 17.83% 7.5%
Median 3 years 24.72% 2.87%
Median 5 years 24.44% 11.98%
10 years average annual 3.39% 1.58%
Weekly media advert. rent $437.5 $325.25
Time on Market 44.5 days 54.9 days
Gross Rental Yield Percent 4.1% 5.24%
demographics (median values)*
Total Population
18780
Weekly Household Income
1016
Household Size
2.20
Age
39
Monthly Loan Repayment
1600
* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.
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