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Having just got back from Karratha, this is one place that can’t get enough of housing for the amount of work that is happening.
Geraldton is cheap as well at the moment and probably just waiting for some secure power (read gas line) passing through the area to rejuvenate the industrial park planned in the area.
Joe
Guys/gals
I’ve driven around the general Orelia/Medina area. First time i spotted the area was when i got lost on the way down to Rockingham and thought to myself that it reminded me a little of Hamilton Hill, lots of cottage style housing with units surrounding the fringe. A lot of the houses there are on 800m2 blocks with deep sewage running through it. I love renos and have done a couple and have made quick bucks with the passive income ideas started to click with me.
There’s definitely potential in this area, the question really is whether i’m (or any investor) is willing to take a punt. Rental market is purely targeted at the ppl working in Kwinana and not dwellers. I’m still waiting to see what they intend to do with Kwinana in terms of expansion of the industry, more specifically whether they will have enough gas flowing into the area for the industry to expand.
Joe
Hi Marisa
i’ve been watching the prices around the orelia/medina area and its pretty much been stable in comparison with the other suburbs within perth.
there’s a lot of infrastructure in this area which i think shows it has the potential to grow. and with the train line passing through, it will provide families which can afford some of the crazy inner suburb prices. Medina/orelia isn’t that bad of an idea, close to rockingham, kwinana provides it with a potential income source for the blue collar. big blocks of land for relatively low prices. rents are aroung $140 for $100k props. not too bad.
Joe
