WA regional property market prices improve in December quarter

The Karratha Urban Area recorded the highest regional growth in median house price in the December quarter 2017.
The Karratha Urban Area recorded the highest regional growth in median house price in the December quarter 2017.

IMPROVING market conditions are being seen across WA with eight regional centres recording positive median house price growth in REIWA’s December quarter data.

Karratha recorded the top result with a 13.5 per cent increase in its median house price.

“Busselton, Albany and Esperance also recorded strong price growth, lifting 9.8 per cent, 7.2 per cent and 6.3 per cent respectively,” REIWA president Hayden Groves said.

The overall regional median house price increased 2.9 per cent, outperforming the Perth market over the same period.

“Pleasingly, house prices improved across the board, with centres both north and south of Perth showing positive growth,” Mr Groves said.

“Consumer sentiment in WA improved considerably in the December quarter, up 13.5 per cent which has had a positive flow on effect to the property market.

“West Australians are feeling more optimistic and buyer enthusiasm is returning.

Kalgoorlie/Boulder, Northam and Port Hedland were the only regions to record declines in their median house price.

“After recording a significant 19.5 per cent increase in median house price in the September quarter, Port Hedland’s median house price had a minor adjustment in the December quarter,” Mr Groves said.