Maidstone suburb profile
Maidstone is a vibrant suburb located just 8km west of Melbourne's CBD, known for its diverse community and convenient urban living. The area offers a mix of residential options, from classic weatherboard homes to modern apartments, catering to a variety of lifestyles. Maidstone is well-served by public transport, providing easy access to the city and surrounding areas. The suburb boasts several parks and recreational facilities, including the popular Medway Golf Club, making it an attractive spot for outdoor enthusiasts. With its proximity to Highpoint Shopping Centre and a range of local amenities, Maidstone continues to appeal to families, professionals, and investors alike.
Maidstone property market performance
Maidstone's property market has shown stability and growth over the past 12 months. The median house price has remained steady at $835,000, while unit values have increased by 4%, reaching a median price of $680,000. This indicates a growing interest in units within the suburb.
Sales activity has been balanced, with 21 houses and 21 units sold in the past three months. Units are selling faster than houses, with a median of 48 days on the market compared to 61 days for houses, suggesting a stronger demand for units.
The rental market in Maidstone has experienced significant growth, with average rents for houses increasing by 14.1% and units by 14.6% over the last 12 months, reflecting a robust demand for rental properties in the area.
Median price - houses$815KPast 3 months
Median price - units$612KPast 3 months
Change in value - houses-2.4%12 months
Change in value - units2.8%12 months
Houses sold18Past 3 months
Units sold14Past 3 months
Median DOM - houses59.5Past 12 months
Median DOM - units50.5Past 12 months
Average rent - houses$600Past 12 months
Average rent - units$550Past 12 months
Change in rent - houses13.2%Past 12 months
Change in rent - units10.0%Past 12 months
Maidstone demographics
Maidstone, located in Melbourne's inner-west, is a suburb that offers a blend of urban convenience and suburban tranquility. With a population of 9,389 and a median age of 34, it attracts a diverse mix of residents, including young families, professionals, and long-term locals. The suburb's proximity to the city and various amenities makes it an appealing choice for those seeking a balanced lifestyle.
The housing landscape in Maidstone is varied, with 44.2% of properties being rented, indicating a significant demand for rental accommodation. This is complemented by a substantial proportion of homes owned outright (21.1%) and those owned with a mortgage (34.7%), reflecting a stable property market that caters to both renters and homeowners. The suburb's family-friendly environment is evident, with 42.3% of households being couple families with children, while 35.5% are couple families without children, showcasing its appeal to a wide range of family structures.
Maidstone's community is further enriched by its cultural diversity and local amenities, including parks, schools, and shopping centers, which contribute to a vibrant and inclusive atmosphere. The median total household income of $1,916 per week suggests a comfortable standard of living, attracting those who value both affordability and accessibility. Overall, Maidstone offers a dynamic and welcoming environment for residents seeking a well-rounded suburban experience within easy reach of Melbourne's bustling city life.
Maidstone infrastructure, key developments and investment opportunities
Maidstone is experiencing significant developments that are likely to impact its property market. The planned Maidstone tram depot, scheduled to commence construction in 2022, will enhance public transport connectivity in the area. This improved infrastructure could increase property desirability, particularly for commuters. Additionally, the ongoing transformation of former industrial sites into new housing estates is expanding residential options and potentially attracting a diverse range of buyers to the suburb.
The suburb's proximity to Highpoint Shopping Centre, which has recently expanded to include more upscale retailers, adds to its appeal for young professionals and families. Maidstone's location, just 7km northwest of Melbourne's CBD, combined with its access to the Maribyrnong River Trail and numerous parks, enhances its livability. These factors, along with the area's period homes and newer medium-density developments, are likely to sustain strong interest in Maidstone's property market, potentially driving up values in the coming years.
Maidstone rental market trends
The rental market in Maidstone is experiencing significant growth, with house rents increasing by 14.1% over the past year to $599 per week, and unit rents rising 14.6% to $550 per week. This upward trend reflects strong demand and makes Maidstone an attractive option for both renters and investors seeking promising returns in a vibrant suburb.
Suburbs near Maidstone
Some popular suburbs near Maidstone include: