Mitcham (postcode 3132) is a well-established suburb in Victoria within the Whitehorse local government area. The area has roughly 16,795 residents and an established demographic, with a median age of 39. Households earn a median income of $106K 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 +1.3% year-on-year at the LGA level. VIC employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 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 professionals, managers, clerical & administrative. Employment in the area leans toward healthcare and professional services. The top ancestries reported are English, Australian, Chinese.
The median house price in Mitcham is $1.2 million, having dipped slightly by 2.5% over the past year. Units have a median price of $885,000 (+7.3% YoY). The current median weekly rent is $580. This gives a gross rental yield of approximately 2.6%. The median monthly mortgage repayment is $2,167.
Mitcham is served by 5 schools, including 4 primary, 1 secondary. The average ICSEA score is 1114, which is well above the national average of 1,000. Public transport access includes 9 rail stations, 84 bus stops. Healthcare facilities include 1 private hospital. The crime rate in the Whitehorse LGA is moderate at 6,384 incidents per 100,000 population.
Looking at the investment signals, Gross rental yield sits at around 2.6% (low yield). Property prices are above the state median ($1.2M/$875K), placing it in the premium segment. The price-to-income ratio of 11.2x is considered stretched. House prices have moved -2.5% year-on-year. Population growth of +1.3% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.