Be alert ‘but not alarmed’ in Qld strata communities: expert
While the Sunshine State has closed its borders to travelers from other states due to the escalation of the COVID-19 pandemic, Archers the S...
MITCHELL PARK, 5043 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.
Investors saw the median home price rise to $453,000.
Profits due to an downward trend in home prices in the suburb averaged -0.33% per annum over a 3-year period.
MITCHELL PARK now ranks at the 220th 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 low, as opposed to average gains per annum over the past five years.
Because of this real estate investors could earn a rental income of $425 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 58.3 days.
In 2016, 72 properties were sold in MITCHELL PARK during the past year, making it the 35th most active market in SA based on total real estate transactions.
| KEY PROPERTY DATA REPORT | HOUSE | UNIT |
|---|---|---|
| Median Price | $453,000 | $300,000 |
| GROWTH REPORT | ||
| Median Quarterly | 0.44% | 2.39% |
| Median 12 month | -0.22% | -3.23% |
| Median 3 years | -0.98% | 2.04% |
| Median 5 years | 8.24% | 13.21% |
| 10 years average annual | 1.33% | 0.87% |
| Weekly media advert. rent | $425 | $320 |
| Time on Market | 58.3 days | 77.1 days |
| Gross Rental Yield Percent | 4.88% | 5.55% |
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