Port Hedland residential market softens

Diane LeowDecember 7, 2020

Pilbara, known for its Aboriginal people, landscape, and rich mineral deposits, has seen its housing market record the highest capital gain in the country at 19.8% per annum over the last five years, RP Data national research director Tim Lawless wrote recently.  

Located in North-west Western Australia, Pilbara covers a vast area of 502,000 square kilometres and has a population of 59,894 as of the 2011 Census. Its main settlements include Port Hedland, Karratha, and Newman.  

Port Hedland is the second largest town in the Pilbara region, with a population of 4393 based on data from the 2011 Census. It is also home to one of the largest iron ore loading ports in the world, and the largest in Australia. Other major resource activities supported by Port Hedland include offshore natural gas fields, salt, manganese, and livestock.  

Resources company BHP Billiton has two separate port facilities in Port Hedland, where their principal iron ore operations are based. It also owns the Mount Newman railway which runs from Newman to Port Hedland for the purpose of carrying iron ore.  

Located about 1700 kilometres from Perth, Port Hedland is accessible via the Great Northern Highway or Northwest Coastal Highway. Flights to Port Hedland are also available from Perth and Darwin.  

Russell Pyke of First National Real Estate Port Hedland told Property Observer that the market in Port Hedland has softened, while awaiting the announcement of new projects.  

“It’s been pretty quiet for the last six months. There's a couple of developers who's still buying, [like the] Roy Hill [iron ore project] looking to break into market,” he said.  

He added that investors are still interested in properties in Port Hedland and South Hedland.  

According to the latest RP Data report, the median sale price for houses in Port Hedland is $1,765,196, up by 68.1% on last year. The median asking rent for houses in the area is $2,550 a week, and average rental yield stands at 7.5%.  

Houses recently sold in Port Hedland include:  

55 Moore Street (pictured below), sold for $1,485,000 by Hedland First National Port Hedland. Prior to this sale, the house last sold for $285,000 in 2005, $152,000 in 1997, $140,000 in 1995, and $125,000 in 1994, according to RP Data records.

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The house was also listed for sale in 2012 for $1,499,000, and also in 2005 for $302,000.  

It has also been listed for rent in 2008, at an asking price of $1,600 per week, according to RP Data records.  

36 McPherson Street, sold for $1,200,000 by Ray White Port Hedland. The four-bedroom house last sold for $448,000 in 2005, and for $160,000 in 2000, according to RP Data records.  

Houses for sale in Port Hedland include:  

5 Harper Street, listed for $899,000 by Crawford Realty South Hedland. The three-bedroom house last sold for $164,000 in 2001, $189,000 in 1997, $138,000 in 1994, $80,000 in 1993 and $45,000 in 1987, according to RP Data records.  

It has also been listed for rent at an asking price of $1750 per week since May this year, according to RP Data records.

Diane Leow

Diane has spent her entire career in the world of digital. She is passionate about delivering the best content to a world that is becoming increasingly jaded by the news. She also believes in the importance of great journalism and how it can change the world. Oh, she also drinks a lot of coffee.

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