Karratha price median down 25 percent

Karratha price median down 25 percent
Karratha price median down 25 percent

Karratha, then Port Hedland continue to bear the brunt of the collapsing WA property market, according to the REIWA March quarter data.

Median prices and sales of properties are derived from Landgate data, excluding properties more than 1 Ha.

Karratha has seen a 25 percent property price decline from 12 months ago, and a 10.8 percent decline in the last three months.

A four bedroom home at 2 Thistle Loop in Karratha (above) was initially listed with $485,000 hopes but the asking price has been slashed to $445,000 in just two months.

The suburb of Port Headland is also decreasing quickly, down 23.1 percent from 12 months ago.

Broome has seen the biggest property value decline in the last three months with an 11.2 percent decline.

Surprisingly Northam is performing well. The suburb has seen a 19.6 percent increase in property values from 12 months ago and 17 percent in the last three months.

 

 

PROPERTY VALUES (MEDIAN SALE PRICES) MARCH 2016 QUARTER CHANGE FROM 3 MONTHS AGO CHANGE FROM 12 MONTHS AGO
Houses, Established
Perth Metropolitan $530,000 -1.9% -4.5%
Mandurah - Murray $400,000 3.4% -4.8%
Bunbury Urban Area $392,000 4.5% 0.5%
Geraldton - Greenough $325,000 -11.0% -16.3%
Kalgoorlie - Boulder $327,000 -4.5% -3.1%
Albany Urban Area $390,000 4.0% 0.0%
Broome Urban Area $475,000 -11.2% -19.0%
Busselton Urban Area $449,000 -4.5% -1.3%
Esperance Urban Area $355,000 1.4% -12.9%
Karratha Urban Area $330,000 -10.8% -25.0%
Northam $280,000 17.0% 19.6%
Port Hedland Urban Area $500,000 -2.0% -23.1%
Regional WA $380,000 1.3% -3.8%
Multi-Residential
Perth Metropolitan $436,000 0.2% -1.6%
Land
Perth Metropolitan $265,000 -0.4% -1.3%
Regional WA $185,000 4.5%

3.9%

 

 

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

Tags: 
Property Sales Residential Market

Community Discussion

Be the first one to comment on this article
What would you like to say about this project?