Reiwa data has shown a massive drop in house prices for Northam, compared to the rest of the state.
It states the median house price from the March quarter 2017 and the quarterly change in the annual median house price.
<br>
Albany Urban Area $380,000 – 0%
Broome Urban Area $505,000 +3.1%
Bunbury Greater $357,000 -4.8%
Busselton Urban Area $455,000 -5.2%
Esperance Urban Area $322,500 -4.4%
Geraldton/Greenough $280,000 -9.7%
Kalgoorlie/Boulder $325,000 + 0.1%
Karratha Urban Area $280,000 +5.7%
Mandurah/Murray $380,000 – 0%
Northam $200,000 -25.2%
Port Hedland $282,000 +7.4%
Regional WA $360,000 +1.4%
Northam $200,000 -25.2%
Port Hedland $282,000 + 7.4%
Regional WA $360,000 +1.4%
Overall, regional WA experienced positive median house price growth for a second consecutive quarter, with preliminary Landgate data showing the overall median lifted 1.4 per cent again in the March quarter 2017.
REIWA president Hayden Groves said after a challenging couple of years, it was encouraging to see prices in regional WA show signs of recovery in the recent December and March quarters.
‘When we look at the individual regions, those north of Perth were among the top performers, with Port Hedland, Karratha Urban Area, Broome Urban Area and Kalgoorlie/Boulder all experiencing increases to their median house prices over the quarter.
Sales statistics
It was two days quicker to sell a house in the March quarter than it was in the December quarter.
Mr Groves said this improvement was felt across most of the regions, with seven of the 12 experiencing faster average selling days in the three months to March.
“Port Hedland, Busselton Urban Area and Geraldton/Greenough were among the most improved, with it being 26, 20 and 17 days quicker to sell in those areas respectively over the quarter,” Mr Groves said.
Other regional areas to experience a decline in the number of days it took to sell a house were Northam, Bunbury, Broome Urban Area and Albany Urban Area.
For more information about your regional centre, visit www.reiwa.com.au