I have been looking for rual places to invest in South Australia. Was looking at Port Pirie but found this below..
“The population of Port Pirie represents about 61% of the region. Regional population has declined slowly since the 1970s and continues to decline at a rate of around 0.5% per year. The region has slightly less people aged between 20 and 45 compared to the rest of the state. This feature illustrates a trend of out-migration of younger and middle aged residents pursuing higher education and career opportunities.”
Would you give this area a miss ??
Merlin,
Reading not-so between the lines… seems like the area doesn;t have access to higher education- ie TAFE or uni, and employment might be a bit slow. I wouldn’t kill it off as a prospect necessaily… what is the current population? (as in, can it sustain a bit of emigration and still have a rental market?) Does the area have distinguishing features? (eg cultural or landscape features etc?) What are you looking for?
If ya want cheapie properties, ya ain’t gonna get them in Vaucluse- that’s a reality. The cheaper the properties, the more likely that there’s a reason for it.
I’ve read that wagga has had a slight population decline (and then somewhere else that it had a pop’n increase!) but the decline thing didn’t worry me- because in itself, the city is 50k population, and has a number of qualities.
If you’re looking for capital growth in any small inland town, you might have to look elsewhere, but rental yield might be decent in Port Pirie. Ask the local RE how they feel things are going- or ask a local shopkeeper for a more “objective than RE sales guy” view :o)
kay henry
Hi folks,
I certainly wouldn’t rule out Pirie, though you might have to hunt a bit to find a good deal in this market.
Nice size town, population of council area is 17K so probably around 14K in the township. Facilities are good. A few major shopping districts, all the big fast food frachises have a presence.
There is a TAFE campus but no Uni.Potential growth if some processing contracts are won, see the links from the local paper this week:
Make sure to get a soil analysis as part of your due diligence. Has been a big problem with lead poisoning there. I know that there was a big clean up project a few years ago but it would pay to have this check done for peace of mind. Last thing you want is a tenant getting sick due to polution on your property.
Risdon Grove is a good starting point for low end properties. The area is reletavely desirable being part of the SA Housing Trust’s ‘Urban Renewal’ Projects and costs are reasonable.( http://www.housingtrust.sa.gov.au )
Like Kay said, talk to the locals to get a feel for the place. Read the local paper online ( http://www.portpirie.yourguide.com.au ) or see if your newsagent can get it for you (Pirie Recorder).
Good Luck,
Mike.Hi
Agree with what written prior soil testing a must.
I have family there and visit at least once a year.
There was a trend to buy there from the 60+ folk I know into new duplex type housing that had more managable yards. The ones I know moved there from the south of the peninsula (yorks) basically to escape the wind and dust, and not to pay a fortune. As some of my relatives are ex NT they also like the warmer climate Pirie has to offer.
Now Im seeing in recent years the ones 75+ are moving back to Adelaide due to proximity to health facilities.Perhaps investigation here could provide a niche for investment.
My other cousins and an uncle who was born there have always said when it comes time for the kids education they have had to move on.
Anyhow I have always found Pirie a nice place & they have some great infrastructure.
So dont block it out.do some reseach I say with locals – especially older generation sitting outside woollies on a bench resting their legs.
Theyll have the grandkid stuff info to tell as well. Bless their hearts.I also considered investing in Port Pirie, i would refer you to some excellent advice I recieved on this forum, basically that the future economic and social stability of Port Pirie was and could still be dependant upon a development of a proposed mining site in the area, do a search of this site for port pirie you will find the topic posted under simotheman.I hope the information helps you
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