Myaree

POSTAL CODE: WA, 6154
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Property investors enjoyed capital gains of 37.37% over the last 12 months in MYAREE, translating to lower returns compared with its peers in WA.

Figures from the previous quarter show that capital gains for real estate buyers in MYAREE are low, as opposed to average gains per annum over the past five years.

The suburb posted a 77.08% growth in median prices over a three-year period. This is considerably lower than the gains it recorded over the past year.

This number can mean, real estate investors could earn a rental income of $820 based on current median home prices for the suburb.

On average, rents on listings have reached the $820 mark, reflecting a 3.14% increase in returns based on the current median price in MYAREE.

MYAREE, 6154 ranks 18th in WA in terms of median property value increase and capital gains, based on year-to-date figures.

While it ranks 335th on the list of best yielding suburbs for rental properties in WA, posting a 3.14% return.

Surburb overview

Myaree is a southern suburb of Perth, located approximately 13.7 kilometres from the central business district. It falls within the City of Melville and is characterised by residential and light industrial zones.

As per the 2021 Census, Myaree had a population of 1,800 residents. The suburb's demographic profile includes a diverse community with various age groups and household compositions. The area was developed in the 1950s, with streets named after soldiers from World War I and early settlers.

Several Transperth bus routes provide public transportation in Myaree. The 114 bus connects Lake Coogee to Elizabeth Quay Bus Station, passing through Marmion Street. The 160 route links Fremantle Station to the WACA Ground via North Lake Road. The 502 and 915 buses also connect to Bull Creek Station and Fremantle Station.

Essential services in the suburb include various retail outlets, medical centres, and educational institutions. The Myaree Business Area is a significant commercial precinct, featuring a range of businesses from automotive services to specialty stores. Notable establishments include Seafresh Myaree, which offers seafood products, and Yee Seng Oriental Supermarket, which caters to diverse culinary needs.

Recreational facilities in Myaree encompass several parks and reserves. Marmion Reserve provides open spaces for outdoor activities and community events. The suburb's proximity to the Swan River allows residents to access riverside amenities in neighbouring areas. Additionally, the City of Melville manages over 200 parks and reserves, contributing to the recreational options available to Myaree residents.

Myaree's blend of residential areas, commercial zones, and access to public transport positions it as a functional suburb within the Perth metropolitan region.

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