Broome and Busselton were the top performing regional centres for median house sale price growth during the June 2022 quarter.  

reiwa.com data shows Broome’s median house sale price lifted 4.7 per cent to $649,000 during the quarter, while Busselton’s median increased 4.5 per cent to $610,000.

REIWA Deputy President Joe White said regional Western Australia was tracking well, with Broome and Busselton recording the strongest price growth during the quarter. 

“Feedback from REIWA agents on the ground in Broome is that the local market is strong, and demand for property is high with many people moving to the regional centre for a sea-change. The rental market in Broome is also very tight, which is funnelling more people into the property market and putting upwards pressure on prices. 

"In Busselton, a key demographic driving growth are families seeking a regional sense of community without having to sacrifice amenities, due to the range of schools, sporting clubs, local hospital and affordable housing options in the region.   

“There is also the FIFO factor, with three companies now flying workers directly out of the Busselton Margaret River Airport. This is making it much easier for FIFO workers and their families to live in the South West,” Mr White said.  

While Broome and Busselton were the standouts, a total of eight regional centres recorded median house sale price growth during the quarter.   

Additionally, all nine regional centres experienced median house sale price growth on an annual basis.   

“Regional WA has been a beneficiary of the state’s strong economy, jobs market and growing population, with solid market conditions prevailing throughout the June 2022 quarter,” Mr White said.  

WA Premier Mark McGowan recently attributed the state’s affordable housing environment as a key reason for why there was a record level of interstate migration into WA between 2020 and 2021. 

"What makes our state so attractive compared to others is that we have the highest average salary and the lowest average mortgage," Mr McGowan told reporters.  

Mr White concurred.  

"We agree with the Premier and believe this why West Australians are the best placed in the country to manage the costs associated with interest rate rises. This, combined with the ongoing housing shortage, is why we expect buyer demand to remain high and prices across regional WA to continue to grow,” Mr White said.

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