Medowie a tranquil 'hot spot'

AFTER spending nine months researching the Hunter's property market, it came as no surprise to John and Beryl Lane that Medowie was listed as one of state's hot spots for capital growth.

The former Cowra farmers were looking to downsize from their 45-acre lucerne property and move closer to family.

Mr Lane said the couple looked at numerous suburbs around the Hunter, but settled on Medowie due to the "value for money".

"It was the tranquillity of the place and we wanted a bit of land, we didn't want a small block," the 72-year-old said.

"We looked around a lot, but in the other suburbs we couldn't get what we wanted for the money and moving closer to town we couldn't get the land we wanted."

The couple settled on a four-bedroom brick home, on an acre block.

Medowie is among 19 Hunter suburbs listed by property analyst firm Residex as set to boom. Residex predicts property prices in the suburb will grow on average 10 per cent per annum, over the next eight years.

Dowling Real Estate Medowie sales manager Neil Ross said a significant infrastructure boost in the suburb, including a Woolworths supermarket, would help price growth over the coming three-to-four years.

Mr Ross said the suburb was ideally situated close to Williamtown RAAF base and Newcastle Airport.

Tony Cant Real Estate Medowie sales consultant Jane Curtis said properties priced at $320,000 and under "would not last five minutes" on the market last year.

Ms Curtis said things had "cooled off significantly" since December, when government incentive schemes aimed at first home buyers ended.

"Last year it was a really mad rush and the focus was all on the first home buyers," she said.

"Now the focus is more on the acreage properties, or the high-end sales around $500,000."

Real Estate Institute Newcastle Hunter divisional chairman Wayne Stewart agreed Medowie was among the top suburbs in the Hunter to watch.

Mr Stewart said while a recent spike in sales of acreage properties had distorted the latest capital growth figures of 10.12 per cent, Medowie had a lot to offer.

"If I was an investor and I was looking at a 10-year period, I would be looking seriously at Medowie," he said. "It's only 25 minutes out of Newcastle, it's affordable, you are close to the airport and you can get land."

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