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Lower Mitcham, SA 5062

Home » SA Real Estate Data » City of Mitcham, SA » Lower Mitcham, SA 5062

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Lower Mitcham, SA 5062 located in Adelaide to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

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Rent 

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Yield 

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Buy 

1BR

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Rent 

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Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Lower Mitcham, SA 5062”

  1. The total adult population (15 years or older) of Lower Mitcham 5062 SA is 1,782, with a median age of 45. Of those, 57.30% are married, 10.27% are divorced or separated, 27.89% are single and 4.94% are widowed.

    The average household size is 2.5 people per dwelling, and the median household monthly income is estimated to be $10,760. The median monthly mortgage repayment for households in this suburb is $2,000 which is 18.59% of their earnings.

    Source: ABS Census Data (2021)

  2. Lower Mitcham is a charming and vibrant suburb located in South Australia. As of Q3 2023, it boasts approximately 976 households. The property landscape of Lower Mitcham is dominated by houses which typically fetch a price of $1,247,128. These houses command a median weekly rent of $599. Despite offering an indicative yield of 2.5%, slightly lower than the attractive market requirement of 3%, the suburb shows great potential based on other important market indicators.

    Lower Mitcham presents an astounding socio-economic score of 1086 out of 1217. This high IRSAD score implies a notable socio-economic status of the local population, suggesting increased access to significant economic resources, potential high income levels and a prevalence of skilled professions.

    From the lens of a property investor, Lower Mitcham’s renter to owner ratio is quite appealing, standing at a mere 14%. This is well below the maximum desirable threshold of 30%, which signifies a healthy investment scenario that carries a low risk of oversupply of rental properties. Furthermore, the unit to houses ratio rests at only 13%. This lower proportion indicates a reduced competition among landlords for tenants therefore maintaining higher rental yields is a conceivable outcome.

    In terms of affordability, Lower Mitcham scores an index of 45 years to own a property. While this exceeds the favourable 30-year span, the other favourable metrics in the statistics could potentially offset this affordability challenge.

    Assessing the market from the angle of supply, Lower Mitcham has a stock on market percentage of 0.21%. This is firmly within the desirable range, suggesting a low supply scenario that’s favourable. The inventory level for houses translates to an absorption period of barely 0.71 months, again indicating low supply conditions that are advantageous to investors. Additionally, the building approvals ratio is comfortably low at 0.32%, demonstrating restrained growth in new dwelling stock.

    The demand metrics for Lower Mitcham also look promising. With the average days on market for houses of 59 days, the buyer interest is fair. The combined vacancy rate for houses and units stands at 1.42%, indicating a balanced rental market condition. The buy search index for houses at 5 is near the state and city average, suggesting moderate but consistent demand.

    Though not all metrics fall within the ideal range, it’s important to retain the perspective that a majority of other key metrics are favourable and trending positively in Q3 of 2023. Further to this, incorporating and analysing the RCS (Relative Composite Score) would additionally aid investors to reach more refined and comprehensive investment decisions. Lower Mitcham, with its ongoing trends and current market statistics, remains an intriguing prospect for discerning investors.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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