This "once shady suburb" appears to have shaken off its somewhat dodgy past and emerged as a bit of a hipster haven according to the esteemed global travel guide.

Their annual list this year ranked this once down at heel inner city spot alongside Adelaide's West End and Brisbane's Newstead as one of the coolest suburban pockets in the country.

So what is going on in this former working class, suburban melting pot?

The now thriving Eighth Avenue strip is home to a string of hipster cafes, small bars and restaurants churning out top notch coffee and food to a horde of hungry visitors and locals.

Henry on Eighth, Swallow Bar, The Woodfired Baker and Rossonero Pizza are listed among the suburban hot spots that are drawing in the crowds and igniting interest in this formerly neglected patch of Perth real estate and forcing entrenched hipster locations such as Highgate and Leederville to stand up and take notice.

Acton Mount Lawley director, and Maylands specialist, Paul Owen joked that where once you might come out and find your wheels gone if you parked on Eighth Avenue, these days you were hard pressed to be able to find a free parking space anywhere, regardless of the time of day.

A veteran of the local property scene, Mr Owen has watched with interest as the suburb has evolved over the last decade and the demographic of buyers with it.

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Whereas it was once home to mostly working class families, a vast majority from migrant backgrounds, he says he is seeing many young singles and couples routinely arriving at home opens to see what their money will buy.

"I am seeing a bit of an influx of young people who are now looking to buy into the area because of the lifestyle it now offers them," he says.

"However, it's more than just the cafe lifestyle that has piqued the interest of buyers in Maylands at the moment.

"It also offers a riverside lifestyle that comes with an affordable price tag - you can launch your boat, play golf, walk around the river and enjoy a semi-country lifestyle, all within six kilometres of the city," he added.

Domain Group data indicates that Maylands' property has a median price tag of $510,000 and is home to roughly an equal split of owners and those who are renting.

Although the apartment market in the area ??? and in general ??? has contracted following the end of the mining boom, Mr Owen says the market for free standing homes remains strong, especially at the upper end of the market.

With a median age of 34, and 43 per cent of residents listed as not having children, it's easy to see why those in the know have focused their sights on Maylands.

Well serviced by public transport, schools and parks, it serves both the hipster and family markets well and was probably only a matter of time before its appeal was uncovered.

Mr Owen says he is also seeing a renewed surge in interest from interstate buyers who are attracted to its relative affordability in comparison to say the Melbourne, Sydney and Auckland markets which he says are all over heated at the moment.

"There are definite signs of growth in the market and a general feeling that 2017 has seen the bottom of the market and I think Maylands will definitely benefit from that going forward."