Coober Pedy

POSTAL CODE: SA, 5723
HOUSE

Property investors have seen a -13.13% drop in COOBER PEDY based on a decrease in median home prices for the past three months.

Based on its average 5-year and quarterly capital gains COOBER PEDY, 5723 saw average growth in the long term.

The SA suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $69,500

Profits averaged -2.33% per annum over a 3-year period, due to an downward trend in home prices in COOBER PEDY, 5723.

This means, real estate investors could earn a rental income of N/A based on current median home prices for the suburb.

The gross rental yield in COOBER PEDY, 5723 is N/A.

An average of 4.67 real estate transactions take place per month in COOBER PEDY which translates to 56 per annum.

Surburb overview

Coober Pedy, located approximately 850 kilometres north of Adelaide, is one of South Australia's most unique and iconic towns. Known as the "Opal Capital of the World," Coober Pedy is renowned for its opal mining industry and its distinctive underground homes, which were created to escape the extreme heat of the outback. The town has a population of around 1,700 residents, with a demographic mix that includes miners, local families, and a significant number of tourists who visit the town for its fascinating history and unusual lifestyle.

Public transportation in Coober Pedy is limited, typical of remote outback towns, with most residents relying on cars for travel. The town is accessible via the Stuart Highway, which connects it to Adelaide in the south and Alice Springs in the north. Coober Pedy also has a small airport, Coober Pedy Airport, which provides regular flights to Adelaide, offering a vital link to the state capital and other major cities.

Coober Pedy's economy is largely driven by the opal mining industry, with the town producing a significant portion of the world's opals. Many residents are involved in opal mining, either as independent prospectors or working for mining companies. The town’s underground mines are a central part of its identity, with many visitors coming to see the unique opal fields and to try their luck at "noodling" (searching for opals) in the mullock heaps.

One of the most distinctive features of Coober Pedy is its underground dwellings, known as "dugouts." Due to the harsh climate, with summer temperatures often exceeding 40°C, many residents have chosen to live underground to stay cool. These homes, churches, and even hotels are dug into the hillsides or below the surface, providing a comfortable living environment that is naturally insulated from the extreme heat. The town’s underground lifestyle is a major draw for tourists, who can visit underground museums, churches, and accommodation.

Coober Pedy has several supermarkets, shops, cafes, and restaurants, ensuring that residents have access to daily necessities. The town also has a hospital, medical clinics, and other essential services. Despite its remote location, Coober Pedy is well-equipped to meet the needs of its residents and visitors.

Educational facilities in Coober Pedy include Coober Pedy Area School, which provides education from early childhood through to year 12. The school is an important part of the community, offering a range of educational programs and extracurricular activities. 

Coober Pedy’s combination of unique living conditions, rich mining history, and vibrant community makes it one of Australia’s most distinctive and intriguing towns. The town’s underground lifestyle, opal mining industry, and remote location continue to attract those seeking adventure, opportunity, and a truly different way of life in the heart of the Australian outback.

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