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Suburb in Focus: Medina

3 Feb 2013 iProperty Network 0 Comment

Spread across 120 square kilometres, the City of Kwinana is a rapidly expanding council comprised of 15 suburbs. Like many of the suburbs within Kwinana, Medina was named after one of the ships that arrived at the Swan River Colony. The suburb name was approved in 1953. Medina is a well-established suburb that was designed in the 1950s by Perth’s first female town planner, Margaret Feilman.

 

 

Medina has appeared on the radar of many property experts as it forms one of the 5 suburbs referred to as the Pentagon. This Pentagon is a culmination of the suburbs: Parmelia, Orelia, Medina, Calista and Leda. Property experts call this Pentagon the next property investment opportunity. The reason for this thinking is that due to the high cost of rents and cost of land in the central metro area, Kwinana will experience a high population growth rate. This will lead to an increased demand for affordable housing which will create capital growth. Combine this with the close proximity of the industrial area fuelling labour growth.

 

Medina is an attractive proposition for many buyers, not only for its close proximity to the city centre but for the huge revitalisation project currently underway. The project falls under the federal government’s Housing Affordability Scheme. The idea is that approximately 60 new homes will be built and these will be offered to applicants at a reduced rate. Currently, the saving is estimated to be around $50,000 per household. Local residents will be given the first opportunity to apply and the hope by the City of Kwinana council is that residents who are looking to downsize may consider these housing options.

 

As well as this huge housing development, the suburb of Medina will also benefit from an additional $1.6 million injection. This will be used to help provide new community facilities and upgrade existing buildings including the restoration of Medina Hall. There are some terrific parks also located within Medina including Thomas Oval, which is the biggest sporting grounds in Kwinana. There is also a well-established local primary school.

 

If you would like any further information about Medina be sure to contact one of our local property professionals.

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