Over the last year, property investments in Whyalla, 5600 have given investors a capital gain of 32.10%. This compares very favourably with the 2.98% for SA as a whole.
If we look at median property appreciation over just the last three months, Whyalla has given property investors a paper return of 3.28%. This puts Suburb as 102 on a list of fastest fasting appreciating suburbs in SA
State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.81% offered to property buyers. Sellers in Whyalla itself are offering an average vendor discount of -9.72% to real estate investors.
On average over the past year, suburb has had 3.25 sales per month, which equates to 39 per year.
Advertised rents are around the $260 mark per week – giving a return of 5.05% based on the median price in Suburb
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Housing supply takes a sharp dip
Median house price: $250,000
Stock on market: -29.6%
12-month growth: 19.8%
With a population of around 3,500 people, the suburb of Whyalla is part of the larger town of Whyalla, a dynamic community located almost 400km from Adelaide, on the east coast of the Eyre Peninsula.
Whyalla is an industrial and farming town set on a major shipping port and the town offers a number of facilities, including half a dozen primary schools, four high schools, a TAFE and a campus for the University of South Australia.
From an investment perspective, the main thing going for this town is its affordability. Boasting low house and unit prices and high yields, the numbers are attractive to potential landlords. However, those considering this market should keep in mind the potential for vacancy rates to chew through their rental income; vacancies can creep up in regional towns and cities, making them slightly riskier than their capital city counterparts.