Property investors who have had real estate in Whyalla, 5600 should be pleased with this SA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 17.83%
If we look at median property appreciation over just the last three months, Whyalla has given property investors a paper return of 5.10%. This puts Suburb as 62 on a list of fastest fasting appreciating suburbs in SA
LACK OF BUYER INTEREST may well be the reason that Whyalla is offering property investors an average of -6.50. This rate of discount on properties puts Suburb at number 90th in terms of most discounted suburbs in SA
Using the current median advertised rental of $250 and the average annual increase in value of a median property of 1.64%, investors should hope to achieve an overall return of 4.28%
Information supplied by:
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.