Karratha and Port Hedland property prices still tanking: SQM

Karratha and Port Hedland property prices still tanking: SQM
Staff ReporterSeptember 29, 2016

Karratha was one of the first mining towns to slump when the mining boom began to fizzle back in 2012-2013. 

Property prices in the West Australian port town have been in decline ever since and new data from SQM Research indicates that there is no sign of a resurgence. 

SQM's Louis Christopher took a look at the latest charts and saw little sign of short-term hope for the mining town's property investors. 

"The update shocked me," Christopher said in the firm's latest update.

"House prices are still plunging there, with no sign of a bottom, as this SQM Research chart reveals."

Click here to enlarge

It's not just property prices that have taken a hit form the end of the mining boom. Rental prices in the region have also fallen in Karratha. 

"The rental market is no better," Christopher said.

Click here to enlarge

Christopher said that other mining towns in the region are faring little better, analysing conditions in Port Hedland. 

"It is no better in Port Hedland either, where asking prices for properties have tanked," he said.

Click here to enlarge

Editor's Picks

Half of apartments snapped up in Setia's Atlas Melbourne skyscraper
Sherpa expands Palm Beach footprint with Flourish Ovana plans
TOGA’s Wicks Place brings Harris Farm to Marrickville
Bradmill Quarter: Bringing community and amenity to life in Yarraville
Orchard Piper secures $20m record-breaking penthouse sale at One Toorak Place