Ashfield is located 9 km from the Perth CBD, qualifying it as a “middle ring suburb.” It is located within Bassendean, on the Swan River. The Ashfield Railway Station services the Midland Railway Line, providing easy access to the CBD. It is a very small suburb, measuring 0.7 square kilometres.
The Demographics
According to the 2011 Census, Ashfield has a population of 1,256, of which 52.9% are male and 47.1% female. The median age in Ashfield is 38 years old, which is one year higher than Australia’s average. The unemployment rate is 6.9%, which is a bit high, but we will address that later. 21.9% of Ashfield’s workforce are professionals. Techs and tradies are the next highest portion of the workforce at 17.4%, while administrative and clerical workers comprise 12.7%. 11.6% are classified as labourers, while 8.7% are managers.
The median individual income is a bit low at $592 per week while household income is also a fairly low $1091 per week, but families earn $1,549 per week. The median home price is $515,000 and median rent is $250 per week. 42.8% of homes are rented, which is a very high proportion.
The Ashfield Precinct Plan
According to the demographics, Ashfield is an affordable suburb with more people who perform physical labour than the average suburb. It has a busy rental market, and we have no trouble attracting quality tenants here. Capital growth over the last 12 months has been at 10.28%. We see this rate as sustainable, thanks to the Ashfield Precinct Plan.
Ashfield officials see Ashfield as having the potential for high long-term growth due to what it calls “large areas of relatively underutilised land” and a lot of what they call “strategically located industrial land.” Their proximity to the Midland Railway Line also bodes well for future growth. Their goal is to turn Ashfield into a “major employment” based activity centre.
Projected improvements include: a strong focus on employment, “major redevelopment” of both existing and potential industrial areas, an eco-industrial village, integration with the railway station and higher residential densities. Pay close attention to density; you could buy now and subdivide later when the regulations change.
For more information, call our property management team on 1300 472 427 today.
Hi Jarrad, are you sure that is the correct median for Ashfield (WA)? That looks closer to Ashfield (NSW)!
Thanks for the article. Ashfield is certainly an interesting one to watch.
Hi Simon, right you are on the median sale price and rental price. I have updated it, thanks 🙂