Why Perth’s Maddington is ‘spoiled with opportunity’
A relatively new development on the southern fringe of the Western Australian capital, the suburb is spoilt with all the offerings necessary for a quintessential Australian life.
Maddington is one of 15 Western Australian suburbs included in Smart Property Investment’s FAST 50 report, which launched back in May.
The report and ranking drew on the insights of a 14-strong investment expert panel and recent housing performance drawn from open source data, and aims to give unparalleled insights into the Australian suburbs which are set for future growth.
If you were to Google “typical Australian suburb”, the popular search engine would undoubtedly spit out images of Maddington, 20 kilometres south of Perth. Rich with all the offerings of normal Australian living, the suburb boasts new and original homes, parklands, several crucial amenities and an industrial area brimming with employment opportunities.
A relatively new suburb, residential development in Maddington began in the 1970s while significant population growth occurred throughout the 1990s. More recently, a significant spell of development occurred in the five years between 2006 and 2011.
Despite being far removed from city living, the region still enjoys all the luxuries that make city living appealing without being too separated from the ever-bustling Perth CBD. Such is the region’s standing in the state’s real estate industry, the Real Estate Institute of Western Australia (REIWA) labelled the Maddington as “spoiled with opportunity”.
Investors hunting entry into the market won’t need to part with too much cash. Even with the region reporting 12-month growth of approximately 10 per cent, on top of an average annual growth of around 2.4 per cent, the Maddington median house price remains a relatively affordable $385,000. This is significantly below FAST 50’s average house price – $544,000.
Moreover, landlords in the region can charge rents of approximately $438. But, perhaps the most enticing factor of the region for investors are its rental yields – 5.9 per cent – making it one of the five highest yielding suburbs contained within the FAST 50 report.
As Perth’s international and national standing builds off the back of the Western Australian capital being named the 12th most liveable city in the world according to the Economist Intelligence Unit’s 2023 Global Liveability Index, Maddington can expect to reap the benefits of this development.
With the wider city developing, the region (which lies within the City of Gosnells’ council zone) can expect a raft of development to occur in the coming years as it expands infrastructure offerings to ensure the area can match an expected 170,000 people set to call the City of Gosnells home by 2036.
To read more of SPI’s FAST 50 coverage, click here.
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