Maddington is in the bottom 40% in WA when comparing median price capital growth over the last year. Maddington gave property investors a disappointing capital gain figure when compared to the rest of the state, with -5.08%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Maddington has fallen somewhat when compared to the 5 year average annual rate.
State is the most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -8.00% offered to property buyers. Sellers in Maddington itself are offering an average vendor discount of -10.62% to real estate investors.
In the last year 111 properties changed hands in Maddington, which puts it as the 82th most active market in WA when comparing the number of sales per suburb.
Maddington, 6109’s gross rental yield is 5.76%
Information supplied by:
Excessive supply causes values to decline
Median house price: $299,500
Stock on market: 9.8%
12-month growth: -7.7%
An affordable suburb in a reasonable location, Maddington is an excellent option for Perth buyers on a budget.
Housing stock rose from 165 to 185 in the 12 months to December 2018. Without demand to offset the available supply, values continued to fall by 7.7% over the same period, with the median price now at under $300,000. Nonetheless, the December 2018 quarter showed some recovery.
This mixed-use suburb combines residential pockets with retail, industrial and semi-rural areas. In fact, Maddington still maintains many vineyards and orchards that harken back to its past as an agricultural hub. Maddington Central serves as the suburb’s main shopping district, containing a Coles supermarket, Woolworths and other conveniences. A train station has been established here as a public transport option to Perth, 20km away, as a result of developmental planning.