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 $460,000.
Profits due to an upward trend in home prices in the suburb averaged 2.1% per annum over a 3-year period.
MITCHELL PARK now ranks at the 317th 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 $395 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, 76 properties were sold in MITCHELL PARK during the past year, making it the 32nd most active market in SA based on total real estate transactions.
MITCHELL PARK ranks 69th in SA when it comes to estimated capital gains experienced by property investors over the past three years.
MITCHELL PARK, 5043 has a capital gain of 21.83% for the past year, which is higher than average compared to its 14% growth within a five-year period.
MITCHELL PARK, 5043 ranks 130th on the best performing suburbs in Australia in terms of capital gains, returning capital gains of 21.83% for property investors last year.
With the median home price in MITCHELL PARK sitting at $399,000, and the average rent at $325, property owners could potentially earn a 4.24% increase in gross rental yield.
Property investors have seen a 0.5% gain in MITCHELL PARK based on an increase in median home prices for the past three months.
Homeowners and real estate investors betting on MITCHELL PARK, 5043 can rest assured about this SA suburb's performance. The suburb saw median home prices rise by 21.83%.
A survey of average capital gains or median home price increase in suburbs across the country shows that MITCHELL PARK, 5043 obtained a 5.3% growth over a ten-year period. It ranks 642nd on our list of suburbs that property investors should look into.