Investment property in Newman has done poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -7.42%
If we look at median property appreciation over just the last three months, Newman has given property investors a paper return of -1.03%. This puts Suburb as 234 on a list of fastest fasting appreciating suburbs in WA
LACK OF BUYER INTEREST may well be the reason that Newman is offering property investors an average of -7.92. This rate of discount on properties puts Suburb at number 20th in terms of most discounted suburbs in WA
Often selling an investment property can take time, and in Newman the average time real estate has been on the market is 66.63 days.
Situated 1026.19km from the CBD, Newman is one of East Pilbara localities in the postcode 6753.
Property buyers and investors in Newman 6753 should be seeing an average reduction in asking price of around -17.89% . This means that Newman is holding prices well when compared to other suburbs in WA.
Newman is one of WA's boom towns located just under 1,200km north of Perth. It is surrounded by iron ore mines and companies such as BHP Billiton are responsible for keeping much of the local economy ticking over.
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The suburb is great for investors looking to garner positive returns on the back of the mining industry, with a zero rental vacancy and houses commanding in the vicinity of $3,000 a week in rent.
Rental properties are scarce and in great demand in the suburb at the moment.
Public high schools and primary schools are both present in the area, while most of the town's remaining amenities consist of a vast range of sporting facilities.
Newman has a well-sized shopping centre containing retail and food venues, while a number of local hotels provide accommodation, entertainment and restaurant style food services. Full summary
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.