Rental and sale prices are on the rise
Morgan Crawford
The residential housing market in Port Hedland continues to post record rental returns and strong property growth this month.
Availability of sale and rental stock is steadily decreasing due largely to the corporate sector’s insatiable hunger for workers accommodation and the strong presence of investors.
The current time frame for a property on the market in Hedland is now down to a staggeringly low 14 days.
Properties are being purchased by a variety of buyers at this time; however the strongest focus in the last month has been out of town investors and local companies looking to house their managerial sector.
South Hedland is currently offering 45 properties for sale amongst all town agencies and only 29 available for rent.
Less than four weeks ago there were 61 available properties for sale, that’s 16 sales in less than 28 days, equalling a sale every two days in South Hedland.
Port Hedland has been marginally less active this month as a result of the investment price point.
This month investors are focusing on the cheaper entry prices located in South Hedland in order to make quick property capitols most commonly through minor aesthetic renovations.
There are currently thirty-three available properties for sale in Port Hedland and a scarce six available on the rental market.
With seventeen properties that were available last month that is a testament to the strong presence of companies looking to secure workers accommodation in this end of town.
Given the current scarcity of residential stock combined with continuous buyer demand it is likely that house prices and rental yield’s will continue to increase at a steady rate throughout the year.
Morgan is a seasoned and experienced investor within the Pilbara region.
Working within the real estate industry for over three years Morgan’s advice and local knowledge have helped many investors and property owners make the right property decision.
If you have a question about the property in the Pilbara, contact – morgan@crawfordrealty.com.au
