Mitcham

Mitcham, VIC 3132 is a vibrant suburb with a population of 16,795 residents. The area has experienced positive population growth over the past 10 years. The suburb offers a range of amenities including good public transport options with a significant portion of residents using trains for their daily commute. It has a mix of different age groups with a notable presence of young adults and middle-aged residents. The educational advantage of students in government schools is relatively high, with an ICSEA percentile of 86.0. For house investors in Mitcham, properties have shown strong growth in sale prices, particularly over the past 5 and 10 years, making it an attractive option for long-term investment. The market absorption rate suggests a healthy demand for housing in the area. The suburb also presents opportunities for renovators due to a high sale price IQR ratio. Meanwhile, unit investors can benefit from higher rental yields and a lower vacancy rate compared to houses. With a high room demand-supply ratio, investors may find good returns by renting out units in Mitcham. Mitcham, VIC 3132 offers a desirable lifestyle for residents with good amenities, public transport, and educational facilities. The suburb presents investment opportunities for both house and unit investors, each with their own strengths. House investors can capitalize on strong historical price growth and market demand, while unit investors may benefit from higher rental yields and lower vacancies. Both types of investors should consider the potential for renovation projects in this suburb. Sources: - proptechdata.com.au - Australian Bureau of Statistics (ABS) Census 2021 - Australian Curriculum, Assessment and Reporting Authority (ACARA) School Profiles 2022