Property investors who have had real estate in Midland, 6056 should be unhappy with this WA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -3.80%
Taking the average capital gain, or increase in median house value, Midland,6056 has racked up an average of -3.80% over the period. This ranks it number 3411th in the whole country for real estate investors looking at median house price increases.
LACK OF BUYER INTEREST may well be the reason that Midland is offering property investors an average of -8.21. This rate of discount on properties puts Suburb at number 54th in terms of most discounted suburbs in WA
On average over the past year, suburb has had 4.33 sales per month, which equates to 52 per year.
Giving property investors a a poor capital gain of -7.14% for the last year, Midland, 6056 is the 1492th highest performer in Australia in this respect.
Across a shorter period, Midland, 6056 has seen a median price increase of -4.41% over the last quarter.
Midland6056 is located in WA which offers an average discount of -8.20% to property investors. Midland itself is showing figures that indicate -9.02% is the average achievable by property buyers investing in the suburb.
Situated 16.31km from the CBD, Midland is one of Swan localities in the postcode 6056.
The Metropolitan Redevelopment Authority is set to inject $1.2bn into Midland's local economy, in a project spanning two decades that will see the establishment of major economic facilities and the creation of around 7,500 jobs.Full summary
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Selling points: Midland is undergoing an exciting urban renewal program managed by the Metropolitan Redevelopment Authority, which is revitalising the historic area. A sum of $1.2 billion will be injected into the local economy over the next 20 years, creating around 7,500 jobs. Some of the major facilities that will be established in Midland include: police complex, GP super clinic and a new hospital. The Midland shopping area is one of the premier shopping areas in Perth, having a complete spectrum of retailers and bulk goods retailers. Housing varies from the million dollar properties with river views to first home buyers further east, with units and villas closer to the centre of town.
Most sought after properties: In the current economic conditions, two-bedroom units and three-bedroom houses that appeal to the first home buyers are selling well.
Most common properties: Fully detached homes are predominate, however group housing of between six and 20 strata units are becoming more important.
Top amenities: Midland has the complete set of amenities, from large shopping centres to corner stores, public and private schools, with the prestigious Guildford Grammar School only minutes away. All the amenities are on either a bus route or the train line. Located on the doorstep of the Swan Valley wine region and the Darling Scarp, there is a huge array of entertainment, dining and recreational facilities available. It is also only 30 minutes to the airport
Local industry and business: Residents commute to Perth or are employed in mining and fly in fly out; plus there are the state government administrative offices such as Landgate and the police complex. The Swan Districts Hospital is a major employer, as are retailing, hospitality and heavy and light industrial enterprises headed by the Midland Brickworks.
Recent changes: Major changes the CBD mainly driven by the Metropolitan Redevelopment Authority. The State Government Railway Workshop area has been rejuvenated into a land mark heritage area. Midland is at the junction of three of the states major freeways that have been recently upgraded to handle the ever increasing traffic.
Best streets: First home buyers should look at the area south of Morrison Road, because it is affordable and close to all amenities, including public transport. Buyers in the $600,000 to $900,000 range should look at the revitalised Woodbridge area, being close to public transport (trains and buses) and boasting some magnificent new homes that will add value to the area. There are limited opportunities for lots with Swan River views in the Viveash area. Scarcity and river views underpin the value.
Public transport: Excellent, buses and trains are within walking distance for most residents.
Main arteries: Midland is at the junction of the state's three major freeways, which provide excellent access to all areas. For example, it’s 15 minutes to the airport, 30 minutes to Perth CBD, 15 minutes to the Swan Valley, 15 minutes to Eastern Hills and 40 minutes to the nearest beaches.