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%
|