Hi everyone. What do people think of Whyalla for investing in at the moment? I am think of buying a property there, does anyone know Whyalla well and can tell me what area is best to invest in?
Also, can anyone recommend a good property manager there?Hi Nonnie.
You are not the first to ask about Whyalla and it leads me, like every other time, to ask,"Why Whyalla?"
I work regularly up the golden triangle of Whyalla, Port Augusta and Port Pirie. About 5 years ago the locals in Whyalla were saying' "the last one to leave please turn out the lights!" Alot has changed in this time but Whyalla as a functional rural city is still contingent on the resource boom and SA is nowhere near as grand a boom as say WA. Having said all that, it is a steel mining town and as long as BHP BIlliton keeps chalking up ticks in the steel mining column, Whytalla will be steady. Again, why Whyalla?
If you're after cheap or inexpensive why not have a look at Adelaide – a major capital city that won't live or die by the resource boom. You can buy Torrens Titled house & land in Elizabeth (checkout Davoren Park – a craphole but real cheap at sub $180K) for under $250K.
Adelaide's south will afford you H&L under $250K that are one street from some of the most beautiful beaches this country has on offer (ie Port Noarlunga Beach was voted the cleanest beach in all of Australia in 2010)
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I hope this has been of some help!
CHEERS!
TCThanks for you input TC. I guess the reason I am looking at Whyalla is that their is quite a bit going on around there now and in the future but also because the rent returns are higher than around Adelaide. Yes you may be able to pick up a cheap house for under $250K but I can't find anything that would give me more than a 5.4% return. My strategy is also to buy houses that are under 10 years old for the depreciation benefits and also as they require less maintenance (at the moment). I are not in a position to maintain them myself so it would be a big extra cost if a property was run down.
Cheers
NonnieHi First post for me here. I've been asked to look at Whyala as an investment opportunity but keep finding conflicting reports on the future of the town. Any help would be greatly apreciated.
Cheers Robert.
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