At number 117th in the list of Australian suburbs ordered by increase in median house value over the last year, Whyalla, 5600 is in the top 10% with a property value increase of 22.56% recorded in median house prices.
Over the longer term, Whyalla has seen property prices show investors a 10.18% return over the last 3 years. This is an improvement over the last 12 months
Vendor discounting in Whyalla is giving property investors an average Vendor Discount of around -7.79%. This puts suburb at number 55th in SA when ranking the most discounted suburbs.
On average over the past year, suburb has had 4.00 sales per month, which equates to 48 per year.
Using the current median advertised rental of $260 and the average annual increase in value of a median property of 1.24%, investors should hope to achieve an overall return of 4.67%
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Information supplied by:
January 2019
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Housing supply takes a sharp dip
Postcode: 5600
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.