Property investors who have had real estate in Newman, 6753 should be relatively unhappy with this WA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 2.33%
Newman,6753 has offered an average of 2.33% return per annum in house price rises to property investors over the last three years.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Newman, 6753. Typically our figures indicate that -10.04% is being offered, which puts this WA suburb at 63th most discounted overall in Australia.
Using the current median advertised rental of $472.5 and the average annual increase in value of a median property of -5.43%, investors should hope to achieve an overall return of 11.17%
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Selling points: Newman is the principal administration, distribution and supply town for the huge East Pilbara iron ore province. Most of the iron ore majors have mines within 150 kilometres of town.
Most sought after properties: At present there is so much happening in and around Newman that we have nothing at all available for rent. Under normal circumstances, four-bedroom homes with at least two bathrooms are very popular as rentals and will command in the order of $3,000 per week rent.
Most common properties: There is a broad cross section of homes, from 40-year-old brick with iron roof, to transportable homes of various vintage and modern four and five-bedroom homes.
Top amenities: Newman is blessed with many quality sporting venues and clubs for all manner of team sports, through to golf and even clay pigeon shooting. There is a state high school as well as state primary schools. There are also several hotels, most of which offer quality restaurants. The shopping centre offers a substantial choice of cafes, including Chicken Treat and Subway franchises.
Local industry and business: BHP Billiton is the largest local employer but the other iron ore majors are also present and play their part in supporting the local community.
Recent changes: The town has grown and diversified considerably in the past 10 years and there are now many more facilities than has been the case in the past.
Best streets: The town has no elite area as such, nor does it have a bad area. The need for accommodation is so great that anywhere you can buy a property is a good area.
Public transport: Buses are non-existent but there are a couple of taxis. The nearest large towns are Port Hedland and Meekatharra, both of which are over 400 km from Newman. Tom Price, which is quite a bit smaller than Newman, is about 250 km south.
Main arteries: The nearest resort area would be Point Samson, a beach area near Karratha that is about 550 km away and Exmouth / Coral Bay, about 700 km away. The roads are quite good but there are a lot of very heavy transport movements and road trains that can sometimes slow down journeys to the coast.