Record growth for investment hotspot

By Staff Reporter

Property values in an investment hotspot have shot up by $50,000 over one quarter, a leading real estate group claims.

The June 2012 quarter recorded a record result for the Pilbara region, which saw prices shoot up to an average of $850,000, according to Crawford Realty.

Over the quarter, 75 properties were sold throughout the region, including in South Hedland, Port Hedland, Karratha and Newman.

As the ‘hottest property market in Australia,’ according to managing director Ryan Crawford, investors are seeing rents in South Hedland of up to $2,000 on a $700,000 property.

Pointing to surging rents, due to a zero vacancy rate and a constant influx of workers, Mr Crawford said that the area is a ‘pressure cooker’.

“For astute property buyers wanting to lock into a future growth area in the Pilbara, then Karratha is the standout location.

“Weekly rents and property values have eased over the last six months in Karratha due to a temporary lull in construction activity in the area. It is now a buyers market in Karratha,” he said.

“However, the Karratha market is expected to bounce back strongly during the coming year due to the expansion of Cape Lambert and other new resource projects coming so buyers have a short window of opportunity to secure a well priced property.”

Properties in South Hedland, the ‘epicentre’ of home sales in the Pilbara, are taking just five days to sell on average, he said.

Record growth for investment hotspot
SPI logo
Thank you.

Your enquiry has been sent to a local Aussie Mortgage Broker.

We will be in contact with you shortly.

error occurred.
Unfortunately Aussie cannot attend to your home loan related enquiry at this stage as you must be a citizen or permanent resident.
Do you need help finding the right loan for your investment?
What Aussie do for you:
  • Give expert mortgage advice to help you find great investment loan deals
  • Help you maximise return by lowering financing costs
  • Save you time and effort by helping with the paperwork
First name
Last name
Mobile Number
Are you an Australian Resident?
promoted stories

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
BLUE BAY 49.18%