31 Harley Way, Medina WA 6167
31 Harley Way, Medina WA 6167
1953 cottage | 809m² large block | heritage overlay | dual rear access | solar & workshop
This property presents a rare, large block in an established suburb, offering immediate utility through its dual driveways, council-approved workshop, and solar panels, positioning it for an owner-occupier seeking space or an investor targeting the stable rental demand demonstrated by its recent tenancy. The heritage overlay and 1953 build necessitate a focused assessment of improvement costs against the lot’s inherent scarcity value.
The primary risk is the capital required to modernize the cottage within heritage constraints, which may not be recovered in the near term. The opportunity lies in securing a large, serviced parcel in a walkable location where future subdivision, though limited by the overlay, is less relevant than the current utility. Acquire for long-term hold, utilizing its current income to offset holding costs while planning incremental, compliant upgrades.
Detailed Independent Property Report prepared by PropCred Analyst team for 31 Harley Way, Medina WA 6167
Checks found:
Value Risk
2
Liquidity Risk
2
Planning Risk
1
Income Risk
Execution Risk
1
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Market Insight
Medina is a tightly held luxury market characterised by high-value homes and limited inventory, which underpins its exclusivity. Demand is driven by affluent buyers seeking premium properties, creating strong competition for available stock. Recent price trends show significant volatility, with conflicting indicators of both sharp appreciation and softening list prices, while the market tempo has accelerated markedly with homes selling more quickly. Future growth is contingent on sustained luxury demand, though the market’s sensitivity to high-value transactions and its constrained supply present inherent risks.
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PropCred Estimated Value
Bedrooms
3
Bathroom
1
Parking
1
Land
809m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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