Rental Insights
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Source: stashproperty.com.au
Development Stats
2024
314
344
About the Property
Renovated 60s home on a 977m2 lot
Step back in time to some of those classic features that these well constructed 60s homes use to have and are still here today. Its a credit to the current owner for all of the hard work he has put in to bring this sturdy home back to life with a lot of the work being beneath the surface which included new plumbing & storm water tanks etc with a ton of visual work above the surface to take in as well, features include
. Double brick & Clay tiles
. Polished Jarrah Floors
. High Ceilings
. Reverse Cycle air-conditioning
. Fresh decor throughout
. 2 chimney stacks in function
. Re-modelled bathroom & laundry
. 2 showers 1 Toilet
. 2 bedrooms + Large sleep out
. Security doors
. New double concrete driveway
. Large gabled car port + gazebo
. Low maintenance grounds
. New fencing
. Fresh paint inside & out
. 977m2 R40 Zoned block
There is heaps of room to access the rear of the lot with the house being fully fenced of and separated from the remainder of the lot which would be ideal to set up a huge workshop or ample space to accommodate a lot of vehicles,trailers,caravans or whatever have you.
With a bit of thought and some creativity the property could possibly be built on again keeping the existing dwelling which could substitute as a granny flat ( subject to council approval ) with the rear of the lot having over 600m2 including access leg to work with.
The location of this property is so handy to the commercial precinct of Midland and its growing retail sector with major arterial routes so easy to access to get to Perth airport or the CBD.
From the Domain.com.au listing
Source: stashproperty.com.au
About the Suburb
Midvale, WA 6056 is a suburb with a total population of 2283 residents. The age distribution is diverse, with a significant number of residents aged 20 to 44 years. The median household income is $1,433 weekly, with a mix of occupations dominated by Technicians and Tradeworkers, Professionals, and Community and Personal Service Workers. The suburb has convenient access to motor vehicle commuting, with a notable percentage working from home. Additionally, Midvale has a low vacancy rate of 0.8% indicating a high demand for housing.
For property investors, Midvale presents opportunities in both the house and unit markets. The suburb has shown a median growth rate of 33.3%, demonstrating a strong potential for capital appreciation. With a market absorption rate of 11.5%, there is a balanced market for property investment. The rental yields are favourable, with houses at 5.8% and units at 8.0%, making it attractive for investors seeking rental income. The suburb has a healthy room demand-supply ratio and an online search interest reflecting buyer demand.
Midvale, WA 6056 offers a diverse community profile with good accessibility and a mix of occupation types. Investors can benefit from the suburb’s growth potential, rental yields, and demand for housing. Homeowners looking to settle in Midvale can enjoy a balanced property market, low vacancy rates, and a range of housing options catering to different preferences.
Sources:
– proptechdata.com.au
– Australian Bureau of Statistics (ABS) Census 2021
– Australian Curriculum, Assessment and Reporting Authority (ACARA) School Profiles 2022
Suburb Median
Vacancy Rate
