Mitchell Park (postcode 3355) is a small community in Victoria within the Ballarat local government area. The area has roughly 887 residents and a blend of families and working-age professionals, with a median age of 37. Households earn a median income of $69K per year, with an average household size of 2.5 people. Recent annual estimates show population movement into the broader catchment, with population growth running at +1.7% year-on-year at the LGA level. VIC employment has moved +0.8% year-on-year in the official ABS Labour Force trend series, which provides the broader jobs backdrop for this suburb. VIC also had 41 Commonwealth-backed major projects under construction, 18 underway, and 24 in planning as at 2025-09-01, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are community & personal service, labourers, technicians & trades. Employment in the area leans toward healthcare and construction. The top ancestries reported are Australian, English, Irish.
Mitchell Park has a median house price of $463,000, which has moved lower by 4.9% year-on-year. The current median weekly rent is $420. This gives a gross rental yield of approximately 4.7%. The median monthly mortgage repayment is $1,387.
Public transport access includes 4 bus stops. The crime rate in the Ballarat LGA is higher than average at 11,856 incidents per 100,000 population.
Looking at the investment signals, Mitchell Park shows a gross rental yield of approximately 4.7%, rated as moderate yield. Property prices sit below the state median ($463K/$850K), which can point to relative value. The price-to-income ratio of 6.7x is considered moderate. House prices have moved -4.9% year-on-year. Population growth of +1.7% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.