- Latest News
Tuesday, January 7, 2020
Mayor Clare McLaughlin has welcomed real estate figures that show Whyalla has recorded the third highest growth in median sale price in South Australia.
A report in The Advertiser print edition and on The Upper Spencer Gulf News online news site quoted figures from realestate.com.au data that showed 238 homes were sold in Whyalla in 2019 with a 27.5 per cent increase in the median sale price jumping from $145,00 to $185,000.
Mayor McLaughlin said this positive news on the real estate front showed Whyalla’s transformation, since the sale of the steelworks and associated mines to GFG Alliance, was on track and having a positive effect on the city’s economy and community development.
“Real estate is always a good indication of economic growth and prosperity,” Mayor McLaughlin said.
“Council’s work on transforming the city and the transformation of the steelworks by GFG Alliance is starting to show real results for Whyalla and our community.
“The rise in real estate prices shows home owners and investors have confidence in Whyalla and the direction we are heading.
“People are noticing big projects like our new jetty, the redevelopment of Bennett Oval for this year’s AFL pre-season match, the new high school being built and many other projects already started or on the drawing board for Whyalla.
“It is heartening to see the benefits of this transformation work like increased house values, investor interest, industry growth, new jobs and a positive vibe in the city.
“We are truly on track to make Whyalla an even greater city.”
In The Advertiser story, market analyst Terry Ryder, of Hotspotting, was quoted saying that his latest report indicated the average house price in Whyalla was almost back to where it was 10 years ago during its “heyday”.
“Whyalla has been the state’s strongest market in capital growth in the past, when the previous resources investment boom was pumping, but dropped alarmingly when the mining boom ended,” he said.
“Now there are signs of improvement.”
Mr Ryder said the upturn of sales in 2019 showed good signs for the future, however, the sales were still well below the resources-fuelled peak of 2013-14.
“Whyalla has been classified in this report as a danger market over the past two years, but there is now considerable hope for better things,” he said.
Note: The Advertiser print story appeared on Saturday, January 4. The online story can be seen on The Upper Spencer Gulf News, a subscriber site at adelaidenow.com.au