Port Augusta - have I missed the boat?

P

POLSATOR

Looking at buying in Port Augusta. Whats everyones opinion on Port Augusta for capital growth? I know they are releasing land to build 3000 homes for the coming mining boom. I am not sure if I have already missed the boat as prices have grown a bit already over the last year.
However if Olympic Dam expansion goes ahead, its got to be good for Port Augusta I would think.
Any comments.......
 
Hi POLSATOR

I don't think that you have missed the boat. Both my children have had 4 month placements in Port Augusta in the past couple of years as well as shorter placements in Whyalla. We visited them at both places and Port Augusta is looking really, really good - much better than years ago when it was disparagingly known as Port A'gutter. I believe that they have a very progressive council. My gut feeling is that Port Augusta will still be a good place to have an IP even if the mining boom slows.

Whyalla, on the other hand, is pretty yuk. Everything is covered in pink dust and it has a very industrial feel about it. Both my kids disliked living there and I felt like I needed a hot bath as soon as we left. I have to say, though, that these are only my impressions as I've not spent much time in either place.

Cheers
 
Port Augusta has been steadily growing and improving for years, before the recent mining boom. The local industry is a power plant, and transport - which are less prone to such cyclical ups and downs. Port Augusta is on my to-buy list. Probably the best time to buy there would have been before they put the Darwin rail link in, but it was going up before then too.

Whyalla was in decline until very recently and has gone up extremely sharply in recent years. They're putting a lid on the pink dust and doing all sorts of funky new mining related stuff, and the town has lots of non-mining related things happening, new department stores going up etc. Whyalla is overpriced IMHO and isn't on my to-buy list.

(my to-buy list is just a list of up-and-coming regionals in SA)

Bit annoying that they are planning to close practically every regional hospital in SA though, that's going to kill a few towns that would have otherwise been nice to live in. Can you imagine your 'local' hospital being assigned you suddenly being 1000km away? Ours is currently 20km away, but with the new plan we're assigned Whyalla, which is 230km away (yes, the Pt Augusta hospital is on the downgrade list too) and is inadequate to cope with Whyalla's load, let alone 3/4 of the state's small towns as well. It's further away from us than several ADELAIDE hospitals. Its bad enough we currently have to drive 90km to the nearest large hospital for an ultrasound, but the hospital 90km away is .. you guessed it ... on the downgrade list too.

I sincerely hope this attempt to make every country resident travel several hundred kilometers more now petrol costs the earth fails miserably and gets the current government a serious reality check. Either that or it'll just kill a whole lot of sick people who can't afford petrol. All the doctors are up in arms and the ambulance and flying doctor service are saying there's no way they could cope with the extra demand for travel. So the RE investment advice to check out the local hospital because local hospitals can be the major employer and lifeblood of a town ... all in jeopardy at the moment, for SA anyway.
 
I was talking with an investor today that just settled on 2 properties in PA! There are opportunities where ever you care to look. The boat is waiting....
 
I have also been looking into SA and Port Augusta, but for an obvious out-of-towner, don not really know which areas in the town are better than others. Would be interested to hear from some locals who actually know about this?

For example, is it better to buy nearer to the train station, or Spencer Gulf or Port Augusta West :confused:
 
rumpledelf said:
port Augusta Has Been Steadily Growing And Improving For Years, Before The Recent Mining Boom. The Local Industry Is A Power Plant, And Transport - Which Are Less Prone To Such Cyclical Ups And Downs. Port Augusta Is On My To-buy List. Probably The Best Time To Buy There Would Have Been Before They Put The Darwin Rail Link In, But It Was Going Up Before Then Too.

Whyalla Was In Decline Until Very Recently And Has Gone Up Extremely Sharply In Recent Years. They're Putting A Lid On The Pink Dust And Doing All Sorts Of Funky New Mining Related Stuff, And The Town Has Lots Of Non-mining Related Things Happening, New Department Stores Going Up Etc. Whyalla Is Overpriced Imho And Isn't On My To-buy List.

(my To-buy List Is Just A List Of Up-and-coming Regionals In Sa)

Bit Annoying That They Are Planning To Close Practically Every Regional Hospital In Sa Though, That's Going To Kill A Few Towns That Would Have Otherwise Been Nice To Live In. Can You Imagine Your 'local' Hospital Being Assigned You Suddenly Being 1000km Away? Ours Is Currently 20km Away, But With The New Plan We're Assigned Whyalla, Which Is 230km Away (yes, The Pt Augusta Hospital Is On The Downgrade List Too) And Is Inadequate To Cope With Whyalla's Load, Let Alone 3/4 Of The State's Small Towns As Well. It's Further Away From Us Than Several Adelaide Hospitals. Its Bad Enough We Currently Have To Drive 90km To The Nearest Large Hospital For An Ultrasound, But The Hospital 90km Away Is .. You Guessed It ... On The Downgrade List Too.

I Sincerely Hope This Attempt To Make Every Country Resident Travel Several Hundred Kilometers More Now Petrol Costs The Earth Fails Miserably And Gets The Current Government A Serious Reality Check. Either That Or It'll Just Kill A Whole Lot Of Sick People Who Can't Afford Petrol. All The Doctors Are Up In Arms And The Ambulance And Flying Doctor Service Are Saying There's No Way They Could Cope With The Extra Demand For Travel. So The Re Investment Advice To Check Out The Local Hospital Because Local Hospitals Can Be The Major Employer And Lifeblood Of A Town ... All In Jeopardy At The Moment, For Sa Anyway.
Click to expand...


Good News , Mike !!
 
Thanks for the replies. Does anyone know if Port Augusta will be used as the main port for Olympic Dam expansion? Also what other big attractions/projects are happening in Port Augusta? I know the council keeps sayings they are expecting 50% growth in population over next 4 years hence the 3000 new homes they plan to build but where exactly is this been driven from?
I am a bit concerned that rental yeilds will drop with the all the new housing supply coming onto the market....
 
Farmilor, I'd be trying to use the new housing estates that are planned a bit of a lever. Buy close in to where they are going to be built and benefit from the beautification they will provide.

Polsator, I wouldn't be too concerned about housing oversupply. I was up there about 3 weeks ago and the amount of industrial land that has been sold is incredible. If only half of the new industrial sites get built then between them and the associated jobs there will be more than enough work for an extra 3700 families who move into the new housing development.

Gools
 
POLSATOR - that is an interesting tag - how did you come up with that?

Port Augusta looks great you are clearly a smart man, but it is nowhere near as good as ANDAMOOKA. Have you considered buying there?
 
Polsator,
I purchased a property in Whyalla a year ago. I visited all three citys in the iron triangle PA, Port Pire and Whyalla. IMO Whyalla presented the best longer term investment as they will get the desalination plant (not fly in fly out jobs) and the new ship port at pt Bonythan. Also Whyalla is a planned city with the current council very keen to explore development. Pt Augusta has alot of upside too but had some service issues, like sewer and water to anything up the hill. But they have spent alot on the foreshore and shopping precinct and cleaned the place up very well..
I dont think you can go wrong with either now, your best bet is to visit these regions and see for yourself, and also beware of the mining hype as the SA state gov is talking up a storm but not a lot is going on right now.
 
I was under the impression the new port was in Whyalla, and the desal plant was either going to be at Whyalla or somewhere closer to Ceduna on the west coast. But I hear things third hand ...
 
I never said I wasn't crazy - it is a shanty town after all. BUT with no other accommodation near the new BHP expansion at Olympic Dam and with housing at Roxby costing 300-400% more, I still think its worth a shot. Its at the speculative end to be sure, but I am willing to bet the returns will be spectacular. Its a supply versus demand thing.
 
Bah, mining booms. Jamestown is trying to set itself up as a mining town too, despite being nowhere near Olympic Dam (well ok, its closer than Adelaide). They are experiencing a HUGE building boom there and they have an airport for fly-in fly-out. Got a copy of the Roxby Downs newspaper a few weeks ago and it had this crazy several-page long advert for Jamestown.
 
RumpledElf said:
They are experiencing a HUGE building boom there and they have an airport for fly-in fly-out.
Click to expand...
For fly-ins they only need dongas and wet rooms, what are they building out there?
There was a story in the Perth weekend paper about fly-ins up north. Locals and councils there complaining the workers put in 12hr shifts, sleep and then fly home with all the $$$. Nothing spent on the local economy or going to councils since the companies don't have to pay rates for dongas. :rolleyes:
 
harb said:
For fly-ins they only need dongas and wet rooms, what are they building out there?
Click to expand...
Sodding great big wind farm (biggest in SA, might be biggest in Australia), new shopping complex, lots of new houses, extended the hospital/medical center, some packing plant or other, some manufacturing plant or other, had quite a few businesses build themselves nice new headquarters, and of course there was already existing industry. Its quite ridiculous really. That's why I bought an IP there ...
 
The whole lot will have just over 200 turbines when they're done (includes all stages of the Hallett farm), I don't really know how that compares to other wind farms.
 
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