Young Perth suburb offers major potential to investors
Padbury offers some major benefits to property investors, following the recent rezoning for higher density development and a soon-to-be finished $80 million shopping centre upgrade.
Padbury is located within the City of Joondalup and is approximately 17 kilometres north-west of the Perth CBD.
The suburb is well serviced by public transport with bus services running through all main arterial roads as well as offering the Whitfords train station and Greenwood train station along the Joondalup train line.
Neighbouring suburbs include Craigie and Kallaroo to the north, Hillarys to the west, Kingsley to the east and Sorrento and Duncraig to the south.
Padbury is a relatively young residential suburb, only being named in 1971 after the Western Australian settler Walter Padbury followed by the start of residential development of the area in the late 1970s.
It wasn’t until the late 1990s that the area was fully built out, fuelled by the development of the Whitford City Shopping Centre and Hillarys Boat Harbour.
Padbury is predominantly low-density residential, with the majority of the suburb zoned R20.
However, in early 2016 the City of Joondalup implemented an R20/40 split zoning for certain pockets of the suburb to encourage higher-density development.
This will help diversify the composition of dwelling types in the suburb, which currently stands at 92.6% houses, 7.4% semi-detached, row or terrace houses and townhouses and 0% flats, units or apartments.
79% of properties are either owned outright or being purchased, while 19% of properties are being rented. The median house price is $540,000.
Padbury has a population of 8,183 residents with a median age of 37 years. 21.2% of the suburbs residents identify as professionals (19.9% WA and 21.3% national averages), while 19.1% are technician and trades workers and 16.8% clerical and admin.
Features of the suburb include Gibson Park, Macdonald Park, Hepburn Heights Conservation Area, Padbury Primary School and Padbury Shopping Centre.
There is also Whitford City Shopping Centre (1km) and the Hillarys Boat Harbour (3km).
The $80 million redevelopment of Westfield Whitford City Shopping Centre is now nearing completion with less than 70 days to go on its construction calendar.
Residents of Padbury are set to benefit from the increased vibrancy the upgrades will bring with plans including a casual dining piazza with 10 new restaurants as well as an entertainment precinct with an eight-screen Event Cinema complex.
The suburb is bound by Whitfords Avenue in the north, Marmion Avenue in the west, Hepburn Avenue in the south and Mitchell Freeway in the east.
The main arterial roads nearby are Giles Avenue, Gibson Avenue, Hepburn Avenue and Whitfords Avenue.