Mitcham is a well-established suburb in Victoria within the Whitehorse local government area (postcode 3132). With a population of 16,795, the suburb has 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. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Chinese.
The median house price in Mitcham is $1.2 million, having dipped slightly 2.5% over the past year. Units have a median price of $825,000 (+0.6% YoY). The current median weekly rent is $550. This gives a gross rental yield of approximately 2.4%. 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.
From an investment perspective, Mitcham offers a gross rental yield of 2.4%, rated as 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.
Mitcham is a well-established suburb in Victoria within the Whitehorse local government area (postcode 3132). With a population of 16,795, the suburb has 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. The most common occupations are professionals, managers, clerical & administrative. The top ancestries reported are English, Australian, Chinese.
The median house price in Mitcham is $1.2 million, having dipped slightly 2.5% over the past year. Units have a median price of $825,000 (+0.6% YoY). The current median weekly rent is $550. This gives a gross rental yield of approximately 2.4%. 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.
From an investment perspective, Mitcham offers a gross rental yield of 2.4%, rated as 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.