Suburb Profile Report for Midland WA (6056)

Midland House: Median price $383,000, Annual capital growth 2.22%, Number of sales 55, Weekly median advertised rent $330

Midland Unit: Median price $337,500, Annual capital growth 2.92%, Number of sales 52, Weekly median advertised rent $320

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
TOP 100 suburbs

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Investment property in Midland has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -4.84%

Comparing Midland,6056 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period

Property investors looking for a bargain in Midland should be aiming for at least -9.66% off the asking price, which is the average vendor discount being achieved at the moment.

Residents and property investors in Midland have been waiting around 107.14 days to sell a property.

The WA suburb of Midland, 6056 is in the Swan local government area.

Property investors who have had real estate in Midland, 6056 should be relatively 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 -3.43%

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Midland has increased when compared to the 5 year average annual rate.

Property investors looking for a bargain in Midland should be aiming for at least -7.92% off the asking price, which is the average vendor discount being achieved at the moment.

A $320 per week rent on the median house gives suburb investors a gross yield of circa 4.93%, without taking into account capital value appreciation, which has been averaging out at 2.92%.

Dom Italiano Information supplied by:

Dom Italiano
Magnet Realty

M 08 9295 3474
O 0413 477 631

W www.professionalsmagnetrealty.com.au
E dom@professionalsmagnetrealty.com.au
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

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.

Close
HOUSE UNIT
$383,000 $337,500
-0.78% -0.44%
-4.84% -3.43%
2.22% 2.92%
$330 $320
55 52
4.48% 4.93%
107.14 121.35

Source: CoreLogic

DSR Score for property investment : Below average (H), Below average (U)
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Demographics
Total population 5109
Median household income ($/weekly) 905
Median age of persons 38
Median housing loan repayment ($/monthly) 1690
Average household size 2
  • Census Count Percent(%)
    20-24 years 471 9.2
    25-34 years 836 16.4
    35-44 years 705 13.8
    45-54 years 590 11.5
    55-64 years 556 10.9
    Others 1953 38.2
    Age Group
    Census Count Percent(%)
    Not Married 2088 58.4
    Registered Married 1032 28.9
    Defacto Relationship 456 12.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 2787 60.5
    Papua New Guinea 285 6.2
    Philippines 229 5.0
    United Kingdom 345 7.5
    Other 207 4.5
    Others 752 16.3
    Country of Birth
    Census Count Percent(%)
    Buddhism 72 1.7
    Christianity 2872 67.3
    Hinduism 89 2.1
    Other Religious Groups 53 1.2
    No Religion 1135 26.6
    Others 47 1.1
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 228 11.9
    $400-$599 251 13.1
    $600-$799 212 11.1
    $1,000-$1,249 197 10.3
    $1,500-$1,999 200 10.4
    Others 828 43.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1559 40.2
    Not in the labour force 1452 37.4
    Employed, worked part-time 540 13.9
    Unemployed, looking for work 203 5.2
    Employed, away from work 125 3.2
    Person Characteristics
  • Census Count Percent(%)
    Professionals 262 11.8
    Technicians & trades workers 394 17.7
    Clerical & administrative workers 304 13.7
    Machinery operators & drivers 273 12.3
    Labourers 299 13.4
    Others 692 31.1
    Occupation
    Census Count Percent(%)
    Pre-school 45 6.1
    Infants/Primary 249 33.6
    Secondary 173 23.4
    Technical or Further Educational Institution 130 17.6
    University or other Tertiary Institutions 110 14.9
    Others 33 4.5
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2073 48.2
    Semi-detached, row or terrace house, townhouse 1280 29.7
    Flat, unit or apartment 940 21.8
    House or flat attached to a shop, office 11 0.3
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1201 58.1
    Being purchased 431 20.9
    Fully owned 422 20.4
    Other tenure type 12 0.6
    Tenure Type
Census 2011, ABS
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