Lower Mitcham is a smaller suburb in South Australia within the Mitcham local government area (postcode 5062). With a population of 2,187, the suburb has a mature demographic with a median age of 45. Households earn a median income of $106K per year, with an average household size of 2.5 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Scottish.
The median house price in Lower Mitcham is $2.2 million, having surged 42.4% over the past year. The current median weekly rent is $532. This gives a gross rental yield of approximately 1.2%. The median monthly mortgage repayment is $2,000.
Public transport access includes 2 rail stations, 2 bus stops. The crime rate in the Mitcham LGA is low at 1,783 incidents per 100,000 population.
From an investment perspective, Lower Mitcham offers a gross rental yield of 1.2%, rated as low yield. Property prices are above the state median ($2.2M/$950K), placing it in the premium segment. The price-to-income ratio of 20.9x is considered stretched. House prices have moved +42.4% year-on-year.
Lower Mitcham is a smaller suburb in South Australia within the Mitcham local government area (postcode 5062). With a population of 2,187, the suburb has a mature demographic with a median age of 45. Households earn a median income of $106K per year, with an average household size of 2.5 people. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Scottish.
The median house price in Lower Mitcham is $2.2 million, having surged 42.4% over the past year. The current median weekly rent is $532. This gives a gross rental yield of approximately 1.2%. The median monthly mortgage repayment is $2,000.
Public transport access includes 2 rail stations, 2 bus stops. The crime rate in the Mitcham LGA is low at 1,783 incidents per 100,000 population.
From an investment perspective, Lower Mitcham offers a gross rental yield of 1.2%, rated as low yield. Property prices are above the state median ($2.2M/$950K), placing it in the premium segment. The price-to-income ratio of 20.9x is considered stretched. House prices have moved +42.4% year-on-year.