Regional Areas to watch

NSW – Newcastle. The region is blessed with good economic growth and strong employment. The property market in Newcastle is expected to benefit from major new projects, including the new Hunter Expressway, the expansion of the port and the upgrade of rail links from the Hunter Valley and the Gunnedah Basin to the port.

 

Area

Property type

Median 6m to Oct 2011

Median 6m to Oct 2006

% Change

Newcastle LGA

Houses

$375,000

$310,000

+21%

 

SA – Whyalla. In addition to Olympic Dam, there are a number of other mining activities in the region which will provide work for Whyalla companies. Median prices for the region have been relatively flat over recent years, offering yields in excess of 6%.

 

Area

Property type

Median 6m to Oct 2011

Median 6m to Oct 2006

% Change

Whyalla LGA

Houses

$240,000

$233,000

+3%

 

Victoria – Geelong. Based on population forecasts, the Geelong LGA will require close to 2000 new dwellings per year for the next 5 years. The Geelong Region currently supports a population of approximately 278,000 residents, with this number expected to reach 398,000 by 2031.

 

Area

Property type

Median 6m to Oct 2011

Median 6m to Oct 2006

% Change

Greater Geelong LGA

Houses

$348,000

$277,000

+26%

 

WA – Port Hedland. The commencement of major new resource projects such as Gorgon has resulted in rising rents and property values in the North-West centres. With the median price currently at a relatively high $775,000, investors may need to focus on smaller and lower priced properties with the potential to extend.

 

Area

Property type

Median 6m to Oct 2011

Median 6m to Oct 2006

% Change

Town of Port Hedland

Houses

$775,000

$475,000

+63%

 

QLD – Townsville. Port of Townsville Limited proposes an expansion of the Port of Townsville to address current capacity constraints and accommodate forecast growth in trade over a planning horizon to 2040.Queensland Rail and the Port of Townsville provide a transport hub for the region’s mining and agricultural industries, as well as for locally-based Xstrata Copper Refinery, Sun Metals Zinc Refinery, Queensland Nickel and the Queensland Sugar Corporation Distribution Centre.Prices for the region have remained relatively flat in recent years.

 

Area

Property type

Median 6m to Oct 2011

Median 6m to Oct 2006

% Change

Townsville LGA

Houses

$372,000

$370,000

+1%

Kent Lardner is CEO of PriceFinder

PriceFinder is an online property search application offering a range of tools to assist in generating timely information for all residential, commercial and rural properties. PriceFinder was first launched in 2004 in Queensland quickly becoming a major force for property information and mapping solutions and is the preferred supplier for many real estate franchises, independent real estate organisations, major valuation firms and government departments. PriceFinder - too easy!

www.pricefinder.com.au

Customer Support: 1300 665 177

The above information is supplied by PriceFinder.
Disclaimer: while due care is taken, the viewpoints expressed by sponsors do not necessarily reflect the opinions of Your Investment Property.

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