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1.Market Observations, 8.Was Sticky

8 Nov 2016 (AFR) – Whyalla housing stalls as uncertainty hangs over steelworks

(8 November 2016, AFR, p3, by Simon Evans)

‘Investors have abandoned property in the battling steel town of Whyalla with average rents tumbling 27 per cent in a year, while house prices have plunged 25 per cent as sellers face a wait of nine months to offload sharply discounted properties. Peter Calliss, a real estate veteran who runs Peter Calliss Real Estate said an exodus of investors and a tightening up by banks who were now demanding deposits of up to 30 per cent from buyers had dealt a big blow to a market already reeling from uncertainty over the future of the Whyalla steelworks.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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