Our research team are always on the lookout for new, up-and-coming suburbs around Australia which show strong capital growth prospects.
Our research team have had their eyes on the suburb of Midvale in Perth, Western Australia. This property market focus will delve into the key macro and micro fundamentals of the market.
Market Location And Key Amenities.
Midvale is a suburb of Perth, Western Australia. It is a well-positioned, low residential housing market that boasts a variety of parks, sporting facilities, walking tracks and has a mix of highly regarded public and private schools.
Midvale is situated just 13 minutes from Swan Valley, the oldest wine region in Western Australia, home to over 40 world-class wineries, boutique breweries, cideries, as well as many cafes and restaurants. Within close proximity to Perth's CBD, Midvale is a short 30 minute commute to the city, representing 22.5km distance between the two.
The suburb is highly demanded by young couples and families due to the proximity to the Perth CBD offering city living aspects, but the area still offers scenic open spaces.
The suburb also benefits from the character and charm of the nearby Public Art Walk and the new Midland Public Square [1].
Midvale is within close proximity to key amenities such as:
Local public transport: 30-minute drive to the Perth CBD, 15 minutes from the airport, 5 minutes to North Metropolitan TAFE Midland, 8 minutes from Midland Train Station, 30 minutes to the University of Western Australia and 12 minutes to Sandalford winery located in Swan Valley.
Shopping precincts: Midland Gate Shopping centre which includes over 200 specialty stores, two supermarkets, many cafes and an entertainment dining precinct.
Property Market Overview.
The City of Swan recorded a population base of 133,851 as of 2016 [4]. This was an increase of 25,390 residents from the previous census recording taken in 2011.
The fundamentals look to be aligning for the Midvale market which experienced a correction in property prices from 2016 until the end of 2019 before entering a growth phase of the property cycle at the beginning of 2020.
From an infrastructure perspective, the historic Workshops precinct is also anchored by the Curtin University Midland Campus acting as a medical and education hub, which opened in late 2019 for medical and health science students. Receiving strong support from the City of Swan, the State Government committed $22 million in funding towards the major hub.
Property Market Statistics.
Capital growth in 2020: 11.4%
Rental yield for houses (June 2021): 4.6%
Vacancy rate: 1.0%
Key Takeaways.
The suburb of Midvale in Western Australia is ticking many macro and micro fundamentals. To read more about our due diligence process, incorporating fundamentals on a macro and micro level, refer here.
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Next Steps
Looking to get the property investment conversation started?
Or, just looking to stay in the loop?
Jarryd Gauci – Property Investment Consultant
P: (02) 9939 3249
Disclaimer: When considering purchasing a property, it's always prudent to seek the advice of an appropriately qualified professional to determine which strategy is most appropriate for your individual circumstance.
References:
[3] EMRC
[4] ABS, Census 2016
[5] Price Finder, August 2021
[6] SQM Research