A 11.19% increase in median property prices in LOWER MITCHAM, 5062 has allowed this suburb to join the ranks of best performing suburbs in SA, settling at number 78th.
A steady increase in median property prices over a five-year period in the suburb translates to a 26.19% capital gain.
It also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $795,000
The augmented property values in the suburb are trailing above the territorial average of 3.28% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $460.
Home owners selling their properties and realtors in LOWER MITCHAM usually have to wait an average of 60.2 days days before their assets are lifted off the market.
The SA suburb ranks 351st on the list of best yielding suburbs for rental properties in SA, posting a 3.01% return.
It also places places 278th in Australia based on median property value growth during the quarter.
Property investors enjoyed capital gains of 10.29% over the last 12 months in LOWER MITCHAM, translating to lower returns compared with its peers in SA.
A survey of average capital gains or median home price increase in suburbs across the country shows that LOWER MITCHAM, 5062 obtained a 0.13% growth over a ten-year period. It ranks 1597th on our list of suburbs that property investors should look into.
With the median home price in LOWER MITCHAM sitting at $386,000, and the average rent at $295, property owners could potentially earn a 3.97% increase in gross rental yield.
A 10.29% increase in median property prices in LOWER MITCHAM, 5062 has allowed this suburb to join the ranks of best performing suburbs in SA, settling at number 44th.
LOWER MITCHAM, 5062 in SA belongs to the local government area of Mitcham.