Investment property in Newman has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 11.36%
Taking the average capital gain, or increase in median house value, Newman,6753 has racked up an average of 11.36% over the period. This ranks it number 4146th in the whole country for real estate investors looking at median house price increases.
The most recent median price for Newman is $164250, with sellers offering an average of -11.02% off the asking price.
On average over the past year, suburb has had 8.08 sales per month, which equates to 97 per year.
Renters in Suburb are facing rents around $20800 per annum or $400 every week.
If you compare the increase in value of investment property in Newman, 6753 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this WA suburb was 7.44%.
If we look at median property appreciation over just the last three months, Newman has given property investors a paper return of 0.00%. This puts Suburb as 36 on a list of fastest fasting appreciating suburbs in WA
Newman, 6753 is offering WA ‘s 45th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this WA.
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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.