WA news LIVE: The WA town where house prices are soaring
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The WA town where house prices are soaring
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Geraldton is on a hot streak with the coastal city topping the charts as the best-performing regional centre for the March 2025 quarter, according to fresh figures from REIWA.
Median house prices jumped by 6.5 per cent to hit $490,000, up from $460,000 just three months earlier.
It was the second consecutive quarter that the regional centre recorded the strongest price growth.
REIWA regional spokeswoman Peta McKenzie said the Geraldton market recorded continued growth over the March quarter, driven by strong investor activity.
'There was significant interest from eastern states investors, particularly for dwellings in the $400,000 to $600,000 range,' she said.
'They were looking for well-presented homes offering reasonable yields. These properties generally attracted multiple offers and, in some cases, sold well above the asking price.'
But McKenzie said investor activity had placed pressure on local buyers.
'REIWA members report investors often secured properties ahead of local owner occupiers by offering slightly more,' she said.
'However, since the March quarter, the level of investor activity has softened slightly, and we're hearing reports of a more even mix of buyers again.'
Eight of the regional centres recorded price growth over the quarter. Port Hedland was the only regional centre where the median house sale price declined.
Annually, Bunbury saw the highest growth, with the median house sale price rising 25.9 per cent to $616,995. Geraldton followed closely, up 25.6 per cent over the year to $490,000.
9.31am
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