Mitcham
3132 VIC
Mitcham, VIC 3132, is a diverse suburb with a population of 16,795 residents. The area shows an increase in population over the last year. The median household income is above average at $2,030 weekly. The suburb has a mix of age groups, with a significant number of residents in the 20-44 age range. The most common occupations include professionals, managers, and technicians/tradeworkers. Residents have various commute options, with a notable percentage working from home.
For houses in Mitcham, the market absorption rate of 39.0% indicates high demand, potentially leading to future price increases. The suburb has a low vacancy rate and a high online search interest, suggesting strong investment potential. The median growth rate and compound annual growth rate over 5 and 10 years are positive. For units, the high room demand-supply ratio and low vacancy rate make it an attractive investment option for investors seeking rental income.
Mitcham, VIC 3132, offers residents a comfortable lifestyle with good income levels, educational facilities, and convenient transport options. The suburb presents promising investment opportunities, especially for those looking to invest in houses given the high market absorption rate and strong growth indicators. Unit properties also show positive investment potential with high rental demand and low vacancy rates.
Sources:
- proptechdata.com.au
- Australian Bureau of Statistics (ABS) Census 2021
- Australian Curriculum, Assessment and Reporting Authority (ACARA) School Profiles 2022
Neighbouring Suburbs
Suburb Highlights
Pricing and long-term growth profile for Mitcham houses.
Median Price
$1.240M
# Sales
217
12M Growth
6.9%
10Y Ave Growth
3.3%
Why Buyers Look Here
Owner occupier appeal — 71% owner-occupied — strong community stability and pride of ownership.
Tight supply — Only 0.8% of stock on market — limited turnover supports price growth.
Fast selling market — Properties sell in a median of 27 days — high buyer competition.
Capital Growth
Pricing and long-term growth profile for Mitcham houses.
Median Price
$1.240M
# Sales
217
12M Growth
6.9%
10Y Ave Growth
3.3%
Rental Market
Yield, rental pricing and vacancy performance for Mitcham houses.
Weekly Rent
$690
Rental Yield
3.1%
Vacancy Rate
1.1%
Rentals Last 12M
241
Supply & Demand
Stock levels, days on market and selling conditions for Mitcham.
Stock on Market
0.8%
Days on Market
27
Building Approvals
0.5%
Infrastructure Spend
—
Demographics
Household profile, income strength and owner occupier mix in Mitcham.
Population
16,795
Owner Occupiers
71%
Median Income
$106k
IRSAD Rank
91
Recent Sales
Recently sold properties in Mitcham.
