with the olympic dam project looking likely & the associated infrastructure work (power station, port, desal plant etc) all going in at the top of the spencer gulf - is anyone looking to invest in port augusta or whyalla?
port augusta
- Thread starter singingtheblues
- Start date
Port Augusta has been expanding for years. Go for it.
Whyalla ... has rather an excess of houses and the population has been declining for decades. You can buy houses there for < $100k if you feel like it, but there's not many.
Whyalla ... has rather an excess of houses and the population has been declining for decades. You can buy houses there for < $100k if you feel like it, but there's not many.
Have you been following Terry Ryder's posts he's currently touring that area on a research feild trip and speaks highly of it's potential.
Port Aguta and further north are good places, going to do well in the near future. Andamooka is about 30km from Roxby used to be dirt cheap back around 2004/05. The whole region has huge potential due to the Olympic dam expansion.
Do a search on old posts here and have a browse of real estate up there.
Do a search on old posts here and have a browse of real estate up there.
Hi singingtheblues are you still looking in these areas? did you end up buying anything? interested also due to the proposed dam expansion..
I think its a great place to invest - however it depends on price.
I'd rather buy in Adelaide if the rent/price paid will be similar to Port Augusta.
This is as the entire state will benefit from the mining boom - although if you get the right property you could supersize your returns (at a slightly higher risk of course) in a regional area as the diversity of industry isn't as strong (and is more focussed on mining than a Metro City).
I'd rather buy in Adelaide if the rent/price paid will be similar to Port Augusta.
This is as the entire state will benefit from the mining boom - although if you get the right property you could supersize your returns (at a slightly higher risk of course) in a regional area as the diversity of industry isn't as strong (and is more focussed on mining than a Metro City).
South Australian housing trust seems to be releasing a lot of cheap properties under their scheme to owner occupiers in PA and tons of land for sale in Whyalla. Some good looking prices/deals if you can secure a long term tennant - might not be so good if that land gets developed and your old maisonette is competing with newer housing stock.
i've not invested yet - i reckon port augusta is a better bet - it does have a nicer feel & lovely views up to the flinders - also its location is at a bit of a cross roads - whyalla seems a bit out of the way
whyalla seems likely to attract capital projects - my fear is that with alternative employment in town one steel mightuse that as an excuse to make a swift exit with no net gain in jobs - i know if they were going under then they would close in any case & wouldn't really worry what the pollies or the locals felt but extra jobs in the region might make closure more palatable!
whyalla seems likely to attract capital projects - my fear is that with alternative employment in town one steel mightuse that as an excuse to make a swift exit with no net gain in jobs - i know if they were going under then they would close in any case & wouldn't really worry what the pollies or the locals felt but extra jobs in the region might make closure more palatable!
I did a field trip last week to see for myself port Augusta and Whyalla.
Didn't spend much time in port Augusta but there were parts of it I visit I did not feel safe.
So do a trip there yourself. I only spent a short time there but got the impression of a east side/west side difference.
Part if east side was like a ghetto and I bought a coffee for $4.50 and I'm sure it had been made from **** and powdered milk.
I spent a day and half in Whyalla and spent time day and night in the worst areas and I didn't see anything too bad and coffee was much better.
So I bought a cheepie in Whyalla......in an average part of town bordering on the dodgy areas. Time will tell if it pays off.
Didn't spend much time in port Augusta but there were parts of it I visit I did not feel safe.
So do a trip there yourself. I only spent a short time there but got the impression of a east side/west side difference.
Part if east side was like a ghetto and I bought a coffee for $4.50 and I'm sure it had been made from **** and powdered milk.
I spent a day and half in Whyalla and spent time day and night in the worst areas and I didn't see anything too bad and coffee was much better.
So I bought a cheepie in Whyalla......in an average part of town bordering on the dodgy areas. Time will tell if it pays off.
Word in the street is that onesteel will be having there steel operation over the next 5 years and in its place expanding (double to almost triple) there iron ore shipping.
Sorry.should have posted this in Whyalla thread bit thought it might be good to know.
Sorry.should have posted this in Whyalla thread bit thought it might be good to know.
Meanwhile I live somewhere that is nicer than Pt Augusta and is cluttering up with families where the hubby works in the mines - and the investors aren't buying here
Well, interstate/Adelaide investors anyway. The local ones are busy. The empty lot two doors down from my house that I've been eyeing off for ages FINALLY sold to a seriously cashed up local investor who had just finished another project. And the reason for buying it is purely because of all this mining nonsense. While the big boom in excessively high short term rents here has ended (one wind farm finished, the next won't start for a few years) there's still new houses popping up everywhere as people make a permanent move to the town.
Don't overlook the smaller regionals. Some of them are effectively on a public transport (plane) route to the mines.
Well, interstate/Adelaide investors anyway. The local ones are busy. The empty lot two doors down from my house that I've been eyeing off for ages FINALLY sold to a seriously cashed up local investor who had just finished another project. And the reason for buying it is purely because of all this mining nonsense. While the big boom in excessively high short term rents here has ended (one wind farm finished, the next won't start for a few years) there's still new houses popping up everywhere as people make a permanent move to the town.
Don't overlook the smaller regionals. Some of them are effectively on a public transport (plane) route to the mines.
yeah, i'd put port lincoln in that bracket - an hour flight to olympic dam & they all love to fish!
Yeah, Pt Lincoln is really going up from what I've heard, but comes in below the population threshold that gets the investors salivating.
Now - that is a town I really liked while living over in that neck of the woods.
Port Lincoln had a quality about it - a vibe - classy - and there was obviously money. The main steet was clean, vibrant and fully leased (don't know if it is now). The marina and indoor pool area was also bustling. Serviced several times a day from Adelaide. Mainly based on the fishing industry and fish farming, but other industries are growing.
I would invest there.
Port Lincoln had a quality about it - a vibe - classy - and there was obviously money. The main steet was clean, vibrant and fully leased (don't know if it is now). The marina and indoor pool area was also bustling. Serviced several times a day from Adelaide. Mainly based on the fishing industry and fish farming, but other industries are growing.
I would invest there.
BHP to pay for Highway Upgrades. $25 million, widening the road between Port Augusta & Olympic dam... Article Here
Hi All - this is my first post to this Forum. So here goes.
I am an investor in Port Augusta & Adelaide. I saw the potential in Port Augusta about 8 years ago when I made my first investment – 3.5 acres of land. I did very well from my first land division which allowed me to buy more land and more houses both in Port Augusta and Adelaide. Since then, I have seen good capital growth in those properties. Rental returns are good - but the negative gearing aspect is better. Rental prices are still to rise.
Reading some of the responses above - in Particular Mick and Andrea - just because there is not a Starbucks coffee place or there is a divide between suburbs - doesn't mean it is not a good place to invest. A property guy once told me "treat your investments as money box, where rent comes in regardless of the clientele - four walls and a roof". Based on that advice, I have brought a few properties that are far from your glamorous Eastern state suburbs lifestyle (which I have been to Sydney a few times and there are quite a few suburbs there that are far from glamorous - but people still live there).
So getting back to Port Augusta and the reason why I still invest there:
Olympic Dam, as we all know, is set to be the worlds biggest open cut mine. This mine is far from starting - but BHPB have already committed over a $1Billion to works that enable a smoother transition to the expansion. But saying that - it will still take 4 years before BHPB reach pay dirt. So I would expect that the "property" spike wont occur again for at least another 1 to 2 years before the "low level investors" realises that they should get on the ladder. Currently there are 351 properties on the market in Port Augusta - majority of these are priced below $250k. These properties will all bring good rent.
Another mine that is set to open in about 2015 (they have already started the drilling to confirm the ore body - and yep its there) is a mine just recently acquired by OZ Minerals about 130km north of Port Augusta. OZ Minerals currently operate a gold and copper mine at Prominent Hill. They have two locations where they fly their staff out of - Adelaide and Port Augusta weekly. Because this mine is not as big as OD - they want to employee local people to reduce costs. They have also announced that they are going to expand their production at Prominent Hill to go underground. The mine 130km north of PA - they are expanding their work force now from about 50 to 150 in about two months and by the end of year, intend on having a work force of 400. These will not be the average worker - they are drillers and geologists. But at least it shows a commitment.
http://www.ozminerals.com/Operations/Carrapateena.html
There is also talk of another deposit at Mount Gunson - again copper. This is relatively close to OZ Minerals deposit at Carrapateena - again they are also scratching around up there to find out how much ore there is.
http://www.gunson.com.au/html/gunson_f.html
Separate to the mines - Adelaide Uni is opening a university branch in Port Augusta. There intention is service the typical country style course of nursing, teaching and also mining. Although this will mean uni students with no money - it will mean good rentals for students. http://www.adelaide.edu.au/news/news43407.html
The Defence force is also moving into Port Augusta – more opportunities for new housing.
http://www.defence.gov.au/id/cultana/project_overview.htm
So based on all of the above - there are really good prospects for investing in Port Augusta. If you were to get in now, I believe you would have brought at the right time. The town is under going a lot of changes (face lifts) - the main oval for the town is having $12m spent on it to bring the local sporting to one main area. A mooring facility is currently in a feasibility stage. BHPB are setting a small office in Port Augusta - why would they do that if the mine was not going ahead.
I will say one thing - the 3000 parcels of land that were planned for PA - they wont go ahead in the near future. The land was up for Auction a few weeks back - I dont know the outcome from that Auction. The council aren't approving any large land developments - reason unknown to me. However they are approving smaller divisions that wont impact the market and balance of the town severely. There are pieces of land in Port Augusta at present on the market, that will fit the bill in this case. Local people who are returning to the town, because there are good paying jobs, are all looking for land at the right price and are building. Stirling North (a suburb 10mins from PA) is proof of this.
Like I said, I have and will continue to invest in Port Augusta. If other investors are willing - that’s there call. But in 10 years time, when I am sitting back with my properties paying me a nice income - don’t say that I didn't say so.
Cheers
I am an investor in Port Augusta & Adelaide. I saw the potential in Port Augusta about 8 years ago when I made my first investment – 3.5 acres of land. I did very well from my first land division which allowed me to buy more land and more houses both in Port Augusta and Adelaide. Since then, I have seen good capital growth in those properties. Rental returns are good - but the negative gearing aspect is better. Rental prices are still to rise.
Reading some of the responses above - in Particular Mick and Andrea - just because there is not a Starbucks coffee place or there is a divide between suburbs - doesn't mean it is not a good place to invest. A property guy once told me "treat your investments as money box, where rent comes in regardless of the clientele - four walls and a roof". Based on that advice, I have brought a few properties that are far from your glamorous Eastern state suburbs lifestyle (which I have been to Sydney a few times and there are quite a few suburbs there that are far from glamorous - but people still live there).
So getting back to Port Augusta and the reason why I still invest there:
Olympic Dam, as we all know, is set to be the worlds biggest open cut mine. This mine is far from starting - but BHPB have already committed over a $1Billion to works that enable a smoother transition to the expansion. But saying that - it will still take 4 years before BHPB reach pay dirt. So I would expect that the "property" spike wont occur again for at least another 1 to 2 years before the "low level investors" realises that they should get on the ladder. Currently there are 351 properties on the market in Port Augusta - majority of these are priced below $250k. These properties will all bring good rent.
Another mine that is set to open in about 2015 (they have already started the drilling to confirm the ore body - and yep its there) is a mine just recently acquired by OZ Minerals about 130km north of Port Augusta. OZ Minerals currently operate a gold and copper mine at Prominent Hill. They have two locations where they fly their staff out of - Adelaide and Port Augusta weekly. Because this mine is not as big as OD - they want to employee local people to reduce costs. They have also announced that they are going to expand their production at Prominent Hill to go underground. The mine 130km north of PA - they are expanding their work force now from about 50 to 150 in about two months and by the end of year, intend on having a work force of 400. These will not be the average worker - they are drillers and geologists. But at least it shows a commitment.
http://www.ozminerals.com/Operations/Carrapateena.html
There is also talk of another deposit at Mount Gunson - again copper. This is relatively close to OZ Minerals deposit at Carrapateena - again they are also scratching around up there to find out how much ore there is.
http://www.gunson.com.au/html/gunson_f.html
Separate to the mines - Adelaide Uni is opening a university branch in Port Augusta. There intention is service the typical country style course of nursing, teaching and also mining. Although this will mean uni students with no money - it will mean good rentals for students. http://www.adelaide.edu.au/news/news43407.html
The Defence force is also moving into Port Augusta – more opportunities for new housing.
http://www.defence.gov.au/id/cultana/project_overview.htm
So based on all of the above - there are really good prospects for investing in Port Augusta. If you were to get in now, I believe you would have brought at the right time. The town is under going a lot of changes (face lifts) - the main oval for the town is having $12m spent on it to bring the local sporting to one main area. A mooring facility is currently in a feasibility stage. BHPB are setting a small office in Port Augusta - why would they do that if the mine was not going ahead.
I will say one thing - the 3000 parcels of land that were planned for PA - they wont go ahead in the near future. The land was up for Auction a few weeks back - I dont know the outcome from that Auction. The council aren't approving any large land developments - reason unknown to me. However they are approving smaller divisions that wont impact the market and balance of the town severely. There are pieces of land in Port Augusta at present on the market, that will fit the bill in this case. Local people who are returning to the town, because there are good paying jobs, are all looking for land at the right price and are building. Stirling North (a suburb 10mins from PA) is proof of this.
Like I said, I have and will continue to invest in Port Augusta. If other investors are willing - that’s there call. But in 10 years time, when I am sitting back with my properties paying me a nice income - don’t say that I didn't say so.
Cheers
Moon Beam is pretty much spot on.
I invested in Whyalla a fair few years back with good yeild and a bit of a buzz about the mining boom keeping prices up. At the time Pt Augusta had seemed to already have boomed. I think now Pt Augusta is a better place to invest than whyalla due to its location to Adelaide and its position to main rds and rail. Whyalla is just that little bit out of the way. I also think the Whyalla Council has great plans to expand the city which does not enthuse me anymore because land scarcity is the key to capital growth, not new suburbs available after the next.
I invested in Whyalla a fair few years back with good yeild and a bit of a buzz about the mining boom keeping prices up. At the time Pt Augusta had seemed to already have boomed. I think now Pt Augusta is a better place to invest than whyalla due to its location to Adelaide and its position to main rds and rail. Whyalla is just that little bit out of the way. I also think the Whyalla Council has great plans to expand the city which does not enthuse me anymore because land scarcity is the key to capital growth, not new suburbs available after the next.
