PLENTY OF POTENTIAL IN MAYLANDS PROPERTY

April 11th 2006

Perth buyer's agent and Managing Director of Property Wizards, Liz Sterzel, predicts Maylands has the potential to become as sought-after as the Sydney suburb of Balmain or Melbourne's Collingwood and Fitzroy.

She said investors searching for promising and still-affordable inner city buys in what was a booming market would do well to look to Maylands.

"Prices have risen substantially across the entire Perth market including in Maylands, but it is still a very affordable option to enter the inner city market in Perth," she said.

"Parts of the area remain undervalued, so there are opportunities to pick up a great investment, and with continuing upgrades taking place, prices are expected to keep moving on up."

In Maylands, the median house price has grown 16.5 per cent a year for the past five years. For the year to December 2005, the median price was $397,500.

Ms Sterzel said she believed Maylands would attract more and more attention from buyers in the years ahead, which would see it enjoy superior capital growth.

"Maylands is nice and close to the café strip of prestigious Mt Lawley and offers lifestyle attractions similar to Subiaco and Leederville, without such a big financial outlay," she said.

"As well, it's close to the river and city, has good transport access and many properties are being refurbished which will continue to boost prices."

Ms Sterzel said investors should be scouting Maylands for sites with development potential.

"There's a lot of interest in older homes on good sized blocks in the better areas within the suburb, but they are hard to come by, so investors will have to look carefully to find these opportunities," she said.

For more information, please contact
Mr Trevor Dunkley
Director
Property Wizards
trevor@propertywizards.com.au
Tel: (08) 9381 7450