Located in South Australia within the Mitcham local government area, Bedford Park is a close-knit residential community (postcode 5042). With a population of 1,882, the suburb has a younger, working-age population with a median age of 28. Households earn a median income of $75K per year, with an average household size of 2.5 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.0% year-on-year at the LGA level. SA employment has moved +2.1% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. SA also had 23 Commonwealth-backed major projects under construction, 2 underway, and 11 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are community & personal service, professionals, labourers. Employment in the area leans toward healthcare and accommodation & food. The top ancestries reported are Australian, English, Chinese.
Median house prices in Bedford Park stand at $988,000, having declined steeply by 11.8% over the last twelve months. The current median weekly rent is $365. This gives a gross rental yield of approximately 1.9%. The median monthly mortgage repayment is $1,600.
Bedford Park is served by 1 school, including 1 secondary. The average ICSEA score is 1101, which is well above the national average of 1,000. Public transport access includes 1 rail station, 29 bus stops. Healthcare facilities include 1 public and 1 private hospitals. The crime rate in the Mitcham LGA is higher than average at 9,405 incidents per 100,000 population.
On the investment side, The gross rental yield works out to roughly 1.9%, which reads as low yield. Property prices are near the state median ($988K/$950K). The price-to-income ratio of 13.1x is considered stretched. House prices have moved -11.8% year-on-year. Population growth of +1.0% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.