Properties in Whyalla, Port Pirie and Port Augusta are in excessive demand on the again of serious funding within the area, pushed by billionaire Sanjeev Gupta’s overhaul of the Whyalla steelworks.
Based on realestate.com.au knowledge, properties in Whyalla have proven the best improve, with values up 18.1 per cent on this time final 12 months, 37.8 per cent over three years and 10.7 per cent on this time 5 years in the past.
They now sit at a median of $310,000.
Elders Whyalla property guide Michele Schoell mentioned the current overhaul of the steelworks had dramatically elevated confidence within the regional metropolis’s property market.
“We now have traders coming into the market, whereas we hadn’t seen traders out there for 5 years,” Ms Schoell mentioned.
“The vibe within the metropolis is nice and the arrogance is again.”
House costs in Port Pirie West are up 18.4 per cent on this time final 12 months, 2.3 per cent over the previous three years and 15.4 per cent over the previous 5 years to a median of $112,500.
Whereas dwelling values in Port Augusta had been down, Ray White Port Augusta promoting agent Jason O’Halloran mentioned the market was altering, partly with COVID-19.
“Final month, I bought extra properties within the one month than I’ve in some other month in my 10 years in actual property,” he mentioned.