Regional markets in Western Australia performed strongly in the second quarter of the year, with eight of nine regional centers posting median selling price increases, according to the latest report from the REIWA.
Damian Collins, president of REIWA, said the recovery in the state's regional markets is going well, given that recent results marked the fourth consecutive quarter of gains for the markets.
On an annual basis, all regional centers posted increases in median home selling prices, with five increases of more than 20%.
"Port Hedland was also the top performer in the region on an annual basis, and in fact the top performer of any anywhere in the state, with its median home selling price increasing by 57.8% to $ 359,000 through June 2021, "Collins said.
Other regional centers that saw significant price increases over the past year were Esperance (24%), Broome (22.8%), Geraldton (21.5%) and Kalgoorlie-Boulder (20.4%).
In terms of registrations, five regional centers recorded an increase in volume, with Karratha posting the biggest jump with 45%.
“With the WA region now firmly in a recovery phase, it is clear that owners are feeling more inclined to sell. While on an annual basis listings are still mostly down, it is fortunate that we are starting to see more properties coming in There is a strong appetite from buyers which is creating competition and helping to drive up prices housing, ”Collins said.
Median times to sell also declined at seven regional centers during the quarter. Busselton recorded the largest drop, from 23 days to 16 days.
“The recovery in regional sales markets shows no signs of slowing down. With prices rising and competition among buyers high, conditions are very favorable for sellers in our regional markets,” Collins said.
The table below shows the housing market indicators for the nine regional centers in Western Australia:
Top Suburbs:
menai
,
cobourg north
,
tank
,
eagle valley
,
redcliffe
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