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Based on its average 5-year and quarterly capital gains MIDLAND, 6056 saw average growth in the long term.
A survey of average capital gains or median home price increase in suburbs across the country shows that MIDLAND, 6056 obtained a -1.14% decrease over a ten-year period. It ranks 3392nd on our list of suburbs that property investors should look into.
MIDLAND, 6056 in WA belongs to the local government area of Swan (C).
MIDLAND, 6056 has a capital gain of 2.11% for the past year, which is higher than average compared to its -25.38% growth within a five-year period.
With the median home price in MIDLAND sitting at $291,000, and the average rent at $300, property owners could potentially earn a 5.36% increase in gross rental yield.
Figures from the previous quarter show that capital gains for real estate buyers in MIDLAND are high, as opposed to average gains per annum over the past five years.
Midland is a suburb in Western Australia bounded by the suburbs of Midvale, Swan View, Bellevue, Hazelmere and Caversham. Midland is situated at the centre of the Swan Valley area and is along the railway route linking Perth and the Avon Valley.
The suburb is undergoing a resurgence thanks to its local council’s initiative to breathe new life to its centre and funnel new investments to its local economy. Infrastructure works and conservation efforts commenced in the early 2000s to beautify the suburb’s surroundings, leading to the establishment of a new community area, a hospital and health campus, gardens and recreational spaces.
Midland has a middle-aged population, with a median of 42 years old. Its total population numbers by 3,937. Its job market since the late 1800s is heavily reliant on its railway workshop, where many residents find employment. The workshops were revived to serve as a symbol of the suburb’s heritage.
Midland’s residential real estate environment largely consists of separate houses, with semi-detached properties coming in second in terms of popularity. A small percentage of residents in Midland live in units, flats or apartments. Residential caravan parks are also popular in Midland due to its proximity to forests and reserve. Midland is located, in fact, along the Railway Reserves Heritage Trail, a popular point of interest in Perth. Accommodations in Midland abound and include notable historic hotels, such as the 1890s Freemasons Hotel.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||2.11%||-5.06%|
|Median 3 years||-12.87%||-20.21%|
|Median 5 years||-25.38%||-34.69%|
|10 years average annual||-1.14%||-4.08%|
|Weekly media advert. rent||$300||$285|
|Time on Market||120.0 days||89.3 days|
|Gross Rental Yield Percent||5.36%||6.59%|