Mitchell Park is a small community in Victoria within the Ballarat local government area (postcode 3355). With a population of 887, the suburb has a mix of young professionals and families with a median age of 37. Households earn a median income of $69K per year, with an average household size of 2.5 people. The most common occupations are community & personal service, labourers, technicians & trades. The top ancestries reported are Australian, English, Irish.
The median house price in Mitchell Park is $463,000, having declined 4.9% over the past year. The current median weekly rent is $410. This gives a gross rental yield of approximately 4.6%. 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 11,695 incidents per 100,000 population.
From an investment perspective, Mitchell Park offers a gross rental yield of 4.6%, rated as moderate yield. Property prices sit below the state median ($463K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 6.7x is considered moderate. House prices have moved -4.9% year-on-year.
Mitchell Park is a small community in Victoria within the Ballarat local government area (postcode 3355). With a population of 887, the suburb has a mix of young professionals and families with a median age of 37. Households earn a median income of $69K per year, with an average household size of 2.5 people. The most common occupations are community & personal service, labourers, technicians & trades. The top ancestries reported are Australian, English, Irish.
The median house price in Mitchell Park is $463,000, having declined 4.9% over the past year. The current median weekly rent is $410. This gives a gross rental yield of approximately 4.6%. 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 11,695 incidents per 100,000 population.
From an investment perspective, Mitchell Park offers a gross rental yield of 4.6%, rated as moderate yield. Property prices sit below the state median ($463K/$875K), suggesting a potential value opportunity. The price-to-income ratio of 6.7x is considered moderate. House prices have moved -4.9% year-on-year.