REIWA December quarter data shows growth in Geraldton house prices

Geraldton experienced a slight growth in its median house price while rents remained static, according to December quarter data released by the Real Estate Institute of WA.

Geraldton recorded 1.3 per cent growth, rising from $379,500 at the end of the September quarter to $385,000 at the end of the December quarter.

There was a 4.1 per cent increase in median sale price over 12 months, growing from $369,000 to $385,000, with a median selling period of 27 days.

Of the nine regional centres examined by REIWA, the data placed Geraldton in the middle of the pack, with Busselton the top performing location.

Its median house sale price rose 4.2 per cent to $715,000, up from $686,000 in the September quarter.

Geraldton recorded a growth of 45.3 per cent in annual median sale price when compared to the same quarter five years ago, but there was a 53.8 per cent reduction in listings for sale in the same five-year comparison.

In the rental market, Geraldton was the only regional centre to not see a rise or fall in median renting prices for the December quarter, remaining at $450 a week. Esperance saw the most growth, increasing 21.1 per cent to $460.

Karratha was the only regional centre to see a fall in median weekly rent, dropping 8.7 per cent.

There were 30 listings for rentals in Geraldton during the December quarter, with the median leasing day period at 18 days, a 50 per cent increase on the September quarter which saw just 15 leasings listed.

Geraldton recorded a 55.2 per cent growth in median weekly rent prices when compared to the same quarter five years earlier and a 77.4 per cent reduction in the quantity of rental listings made.