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Practice English Speaking&Listening with: This Week I’m focusing on Port Augusta in South Australia.

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G'day there Phil Robison here and today I'm focusing on Port Augusta in

South Australia certainly had some incredible growth between 2004 and 2008

in fact it actually had growth of approximately 20% per annum but since

then well it's certainly been flat but

pundits are predicting that it's going to be coming back so yeah the highlights

for the area included a number of renewable energy projects in fact

totalling around about $5 billion dollars British industrialist Sanjeev

Gupta who bought the Whyalla Steel works in fact is investing $1Billion

dollars in energy projects and that's going to be driving his iron ore

mines and processing plants now the government has also given approval to

allow mining in the Woomera prohibited area which is an area estimated to

contain some $35 billion dollars worth of copper, gold, uranium and iron ore now

whilst Port Augusta has been considered a longshot for investors in the past the

location I think may prosper in the future if some of these proposed energy and

resource developments get underway I think it's very likely we are in a world

that people are very very keen about the number of significant projects being

targeted in and around Port Augusta is growing to levels that suggest that

major economic growth is well it's inevitable in fact the Port Augusta

City Council they refer to the town as being the crossroads of Australia and it

is certainly it's strategically located in terms of its logistics in

South Australia it's the the launch point for the Stuart Highway linking up

to Darwin and the highways that link to New South Wales and Western Australia

now some facts well currently the median property price in Port Augusta is a

$140,000 after certainly several years of negative

growth market research firm Propertyology well they've named Port

Augusta as one of the South Australia's potential hotspots so they're tipping it

to experience some investment growth between 2018 and 2021 now some of

the key considerations are its affordability it's got strong yields and

low rental vacancies in fact I've been researching the area on behalf a number

of retirees who are chasing a better return and then what's offer an offer

from term deposits which are less than 2% I mean you can't live off that it's

a pretty sad situation if you're a retiree at the moment so we've been

looking for a good cash return on their money and after doing the maths talking

to local agents and getting my head around the numbers the net returns we

are seeing upwards of 7% so average rents at the moment are $240

a week but Duplex's in fact bring in around $370 to $445 a

week depending on the price of the property and also the condition of the

property so excellent for those that are seeking a good cash flow property to add

to their portfolio finally in the past year the one year growth for Port

Augusta has been 4% which is positive after several years of negative

growth on the back of those years I mentioned before 2003 to 2008

according to APM Data so in summary I think if several of these

approved clean energy projects if they get commissioned I reckon Port Augusta

could be one to watch so more for a more speculative investment but certainly a

cash flow strategy in the short term but one that may will have some growth over

the medium to longer term particularly for these projects get up that's Phil

Robison from Philip Robison Property have a wonderful day and bye

for now.

The Description of This Week I’m focusing on Port Augusta in South Australia.