Over the last year, property investments in Whyalla, 5600 have given investors a capital gain of 9.61%. This compares favourably with the 5.02% for SA as a whole.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Whyalla has increased when compared to the 5 year average annual rate.
Sellers are offering property buyers an average discount of -7.58% to buyers in Whyalla at the moment, which is less than average for the rest of SA.
In the last year 53 properties changed hands in Whyalla, which puts it as the 161th most active market in SA when comparing the number of sales per suburb.
A $250 per week rent on the median house gives suburb investors a gross yield of circa 4.00%, without taking into account capital value appreciation, which has been averaging out at 2.98%.
In the last year 10 properties changed hands in Whyalla, which puts it as the 157th most active market in SA when comparing the number of sales per suburb.
Advertised rents are around the $210 mark per week – giving a return of 4.46% 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.