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Mitcham
AREA REPORTS

Mitcham

Mitcham - SUBURB PROFILE REPORT
POSTAL CODE: VIC, 3132

house
unit

Property investments in MITCHAM did not fare well against the rest of the country last year, registering a median home price decrease of 15.81%.

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

Based on its average 5-year and quarterly capital gains MITCHAM, 3132 saw average growth in the long term.

Real estate investors could earn a rental income of $460 based on current median home prices for the suburb.

It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 53.4 days.

Besides that, the Australian suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.

Property investors perceived the median home price rise to $1,216,000.

MITCHAM ranks 510th on the list of best yielding suburbs for rental properties in VIC, posting a 1.97% return.

Data report can be found below

Mitcham
KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $1,216,000 $824,788
GROWTH REPORT
Median Quarterly 1.8% 0.04%
Median 12 month 15.81% 5.8%
Median 3 years 26.53% 36.78%
Median 5 years 29.85% 29.48%
10 years average annual 8.14% 5.58%
Weekly media advert. rent $460 $400
Time on Market 53.4 days 51.4 days
Gross Rental Yield Percent 1.97% 2.52%
demographics (median values)*
Total Population
16148
Weekly Household Income
1650
Household Size
2.50
Age
38
Monthly Loan Repayment
2000
* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.
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