18 West Terrace, Port Pirie West SA 5540
18 West Terrace, Port Pirie West SA 5540
2-bed house on 508m² | $329k entry point | tight rental market | older-style dwelling | solid land component
This is a compact, older-style house that suits a first-home buyer, downsizer, or investor looking for an affordable entry into a stable regional market. The 508m² parcel gives it more land than the floorplan might suggest, which is often where the real value sits in this part of Port Pirie West. With only two bedrooms, it is smaller than much of the surrounding stock, but that also means a lower price point and less competition from families wanting more space. The tight rental market, with vacancy under half a percent, makes it genuinely interesting for an investor, though the modest size will likely keep rental returns in the mid-range rather than exceptional.
The main factors that could shape its value are the condition of the original build and how much updating has been done over time. Older houses in this area can vary significantly, from largely original to fully renovated, and that difference will matter more than the bedroom count. The land size is a genuine positive, offering scope for a shed, garden, or future extension if council allows. Buyers should also weigh the flood overlay that appears on some nearby properties, as that can affect insurance costs and future building plans. The price point looks reasonable for what is on offer, but the final figure will come down to how the interior presents and whether any major systems need attention.
|| Comparable Sales: 24 West Terrace sold $427,000; 120 The Terrace sold $220,000 | Property Price Band: $300,000–$400,000 | Value Drivers: land size, condition, presentation
Detailed Independent Property Report prepared by PropCred Analyst team for 18 West Terrace, Port Pirie West SA 5540
Checks found:
Value Risk
1
Liquidity Risk
2
Planning Risk
2
Income Risk
1
Execution Risk
2
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Market Insight
Port Pirie West SA 5540 is a lower-priced regional market where childless couples and labourer households dominate demand, attracted by 43.66% annual house price growth and 7.66% gross rental yields. Median house values sit at $255,000–$292,500 depending on source, with a tight 0.40% vacancy rate, 40 median days on market, and about 63–66 annual sales. This supply-demand balance and limited panic selling support current conditions. Future growth hinges on continued investor interest in high-yielding stock and family demand for 3–5 bedroom homes, though affordability constraints and rate sensitivity from $600–$799 monthly mortgage repayments remain key risks. Variable supply of only 2–4 listings also points to shallow market depth.
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PropCred Estimated Value
Comparable Sales: 24 West Terrace sold $427,000; 120 The Terrace sold $220,000 | Property Price Band: $300,000–$400,000 | Value Drivers: land size, condition, presentation
Bedrooms
2
Bathroom
1
Parking
2
Land
508m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
·
Reviewed by Matt Proctor, Principal Analyst
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