Suburb snapshot: Maylands
Maylands is an inner-city heritage suburb located approximately 5km north-east of the Perth CBD.
It sits along the Swan River and is bordered by the suburbs of Mount Lawley, Inglewood and Bayswater. It enjoys excellent transport infrastructure with several bus routes, a train station, and key arterial roads such as Guildford Road and nearby Tonkin Highway. Both the Mitchell and Kwinana Freeway are also just minutes away via the Graham Farmer Tunnel.
Maylands has one primary school; a public golf course on the river; a yacht club; a new library, community and sporting centre; and a rejuvenated café and shopping strip amongst other things. Maylands also enjoys a number of parks, beautiful lakes, children’s playgrounds, and walking and bike trails that follow the Swan River through East Perth and into the CBD. It is closely situated to utilise the amenities of Belmont, Morley and East Perth.
Once quite working class and run-down, the suburb has already seen immense change over the past decade. New housing estates have been built, streetscapes have been transformed, and heritage buildings restored into funky cafes and apartment complexes. The West Australian Ballet will also be calling Maylands home in 2012, basing its headquarters in a $12 million newly restored heritage building. However, the suburb still has much more room for improvement. Identified as a key district town centre in the state government’s Directions 2031 framework, it is set to benefit from a revitalisation of the town centre, increasing levels of private development, and an influx of young professionals into the area.
Housing in the suburb is varied and interesting with everything from old and new apartments, villas and units, development plots, and multi-million dollar family homes. Prices are still affordable but have been steadily increasing in recent years and are set to rise even further. Housing is most popular in the south-east of the suburb close to the Swan River and at the opposite end nearer to Beaufort Street, with lock-up and leave properties in demand near the town centre.
Entry level into the suburb is around $200,000 which will fetch a small one bedroom apartment. Villas and townhouses start from the low-mid $300’000’s through to high $600,000’s. Land can be found from as little as $275,000 although rises to as much as $900,000 for premium plots with more generous sizes and river, lake or city views. Development projects are priced from $600,000 upwards. Houses are quite varied depending on their condition, size, and particular location. Those on small lots typically start from around $500,000, while those brand new or situated in the newer estates from around $800,000. Prices, however, do go for as much as $2.5 million in some parts. Rents are equally diverse due the varied housing available, thus range on average from around $250 to $950 per week.
|Growth rate (1 year average)||-3.4%|
|Growth rate (5 year average)||1.5%|
|Growth rate (10 year average)||10.3%|
|Median age of residents||35|
|Median weekly household income||$807|
|Percentage of rentals||52%|
Source: REIWA.com.au, January 2012