Maddingley - Market Update

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Maddingley - Market Update

 

Arbee Market Trend Updates: Maddingley

The appeal of moving to regional Victoria is yet to dip with people still packing their belongings and travelling down the highway for a more relaxing lifestyle. 

Both Bacchus Marsh and Darley are fast-growing suburbs, with median house prices sitting in the high $500,000’s. 

And Maddingley is no different, with a current vacancy rate of 1.58% and 26.34% of the population currently renting. It’s a suburb of major opportunity for investors. 

The houses in this historic suburb carry antiquity, with the earliest known census back in 1861 where the population was a mere 130 people.

Since then, the residential suburb has continued to grow into the peri-urban municipality it is today, with various buying and renting opportunities across the board.

How Maddingley stacks up

Although Maddingley is the slower growing of the three suburbs, the median house price is still sitting at half-a-million-dollars. 

A four-bedroom home in Maddingley is currently selling for a median price of $565,000, with rent a comfortable $410 per week. 

This suburb is appealing to middle-aged Australians, with the average age of residents sitting between 20 and 30 years old.

The demographics of the estimated 3,000 population is broken into older couples and families (22.6%), maturing couples and families (17.7%) and established couples and families (16.5%).

A great investment

As people continue to move to regional Victoria at an exponential rate, the prices across the state continue to rise, and so do the prices in Maddingley.

Its’ values are up, and netting property investors received capital gains of 6.67% last year, seeing the median price rise to $551,000.With rent sitting at around $410 p/w, a small investment in Maddingley is a great move when taking into account the population demographic and the gorgeous houses in the suburb. 

Maddingley ranks 523rd on the list of fastest growing suburbs in the state, with homes and units usually staying on listing for an average of 40.2 days.

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