Investors need to head to WA's mining towns for lowest median unit values

Investors need to head to WA's mining towns for lowest median unit values
Investors need to head to WA's mining towns for lowest median unit values

The number one spot for low median unit values is Newman in the East Pilbara council region, according to the CoreLogic end of year report.

Around 24 units were sold in the region at a median price of $96,274 during the past year.

South Hedland ($99,878) and Port Hedland ($127,892) were placed second and third in terms of lowest median unit values across Australia.

These regions sold 65 and 55 units respectively.

Investors need to head to WA's mining towns for lowest median unit values

An example of the price point being present in WA was 6/15 Mindarra Drive, Newman (pictured above).

The one bedroom one bathroom unit was sold in November this year for $109,000.

Last sold for 575,000 in 2013 this shows a $456,000 decrease in price over the past 5 years.

Located close to the Newman CBD, School and Shire Pool the property is also near Newman hospital.

The unit was most recently listed for rent in 2017 at $225 per week down $450 from $750 per week in 2014.

Investors need to head to WA's mining towns for lowest median unit values

Another example of this price point is a block of 12 units 11 of which have sold this year at 6 Arika Place, Newman.

They sold for prices ranging from $65,000 to $122,500.

11/6 Arika Place (pictured above) was listed as a rental on December 18 for $230 per week.

Tags: 
Property Prices Newman

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