Kwinana: Rising After Depression

As mortgage brokers who offer home loans in the Kwinana, Rockingham and Baldivis areas, we are especially happy to see the growth that has happened in Kwinana. Kwinana was hit hard by the Global Financial Crisis (GFC), possibly harder than anywhere in the Perth area.

Kwinana Rising after DepressionIn June of 2009, the economic picture in Kwinana was much different than it is now. Unemployment was at a high of 7.4%, which was 2% higher than neighbouring Rockingham and close to 3% higher than the average number for Western Australia. Australia went through a recession but in Kwinana, it was considered a depression.

Kwinana had an industrial base for most of its employment and found many of its companies cutting jobs to try and compete on a global scale. The global recession affected many Kwinana employers and forced them to cut costs or go out of business. Unfortunately, labour is always the first cost that is cut. This created a crisis situation in Kwinana.

The Change

Kwinana needed to change —and they did. Luckily, Woolworths bought the Kwinana Hub and had a huge effect on Kwinana’s economic profile. The redevelopment and refurbishment of the Kwinana Hub is nearly complete, with the new name “Kwinana Marketplace.”

Now, shopping and entertainment are driving the Kwinana economy. The local council invested in the Darius Wells Library and Resource Centre, with free Wi-Fi and over 40,000 books and various items available. In addition, funding has been announced for the Recquatic Centre.

The council’s vision for Kwinana is to create a centre of healthy living and activity that is attractive and available to the public 365 days a year. New food and beverage outlets have also appeared in Kwinana and Chisholm Ave is now the main strip of Kwinana. All of the new shopping and entertainment options have created more jobs in Kwinana and have produced more money for the local economy.

Now is the Time

At Smartline Mortgage Brokers Rockingham, we are all locals who love and believe in our area. Every time we help another client obtain a home loan in Kwinana, Rockingham or Baldivis, it makes us happy because we know they are going to live in a great area.

Call (08) 9527 1800 to learn more.