Get a property report and suburb profile for any property in Mitcham

Mitcham is an established, leafy suburb in Melbourne's east with tree-lined streets and a mix of early cottages, post-war brick houses and more recent townhouse infill. A compact village around Mitcham station has shops, cafes and everyday services, while reserves and creek corridors provide walking and cycling paths and pockets of bushland. Mitcham station on the Lilydale and Belgrave lines, plus local bus routes, make public transport and road connections to neighbouring suburbs convenient.

The community numbers 16,795 people and is weighted towards couple families (48.6% with children; 36.8% without). Most homes are owner-occupied (72.1%), with renters at 27.9%. State rail works removed level crossings and rebuilt Mitcham and Heatherdale stations, while a section of the Box Hill to Ringwood walking and cycling path is complete; council and state planning for the station precinct is being progressed. Whether Mitcham suits you will come down to what you want from a suburb.

Buying in Mitcham 3132 sits well above what a typical local household earned at the last Census. The median house price of $1,180,000 is about 11.2 times a typical local annual household income at the last Census, while the median unit price of $675,000 is about 6.4 times a local year's household income. Renting is less stretched by comparison: a house rent of $700 a week would take about 34.5% of a typical local household's weekly income at the last Census, a sizeable share, and a unit rent of $550 a week would be about 27.0% of that income, a moderate share. If you're renting rather than buying, the rent figures are the nearer guide to your situation; if buying, the price multiples show how purchasing compares to local incomes at the last Census.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

If you're weighing Mitcham as an investment, the past year shows modest capital gains alongside stronger rental moves. Over the 12 months median house values rose 3.4% and median unit values rose 4.6%, while house rents climbed 9.4% and unit rents increased 5.8%.

Put another way, rental income has grown faster than prices on the house side this year — house rents rose a solid 9.4%, outpacing house value growth of 3.4%. Unit values edged up slightly more than house values at 4.6%, and unit rents also rose a solid 5.8%. Which of those outcomes matters to you depends on whether you prioritise income or capital growth.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.