Thinking about buying in Mitcham? Now could not be a better time, with 1346 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $1,034,000 with prices in this suburb ranging from $264,000 to $3,245,000. Mitcham is located fairly close to the coast at just 6Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.

Mitcham Real Estate Market Outlook

Consistent high demand relative to supply is a key feature in Mitcham driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. High average incomes in Mitcham ensure a focus on quality with a commensurate high entry price under constant demand. Competition for available quality housing is intense with multiple offers likely to be made in excess of asking prices. The high percentage of professional people in Mitcham classifies the area as "gentrified". This implies high demand for quality housing, generally of larger than average size. Price growth is ensured even where the state affordability index is negatively impacting other areas. High density population in Mitcham requires consistent turnover in housing ensuring constant demand. Housing styles may be a mix of low, medium, and high density, providing choice for well-financed buyers and value growth over time. High industry presence in the wider area is a double-edged sword. While local employment options are high, the presence of industrial buildings may negatively impact lifestyle perception. Demand from first home buyers and investors however ensures good price growth.

Properties for sale Mitcham

unit 5, 39 hill av, cumberland park, sa, 5041

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