Real Estate: Broome 'may have bottomed out'

Written on the 13 February 2017

Property may be the hottest investment game around, but home owners in Western Australia's northern towns have little to celebrate.

Preliminary Landgate data shows regional WA's median house price lifted 1.4 per cent to $355,000 in the December quarter.

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Real Estate Institute WA (REIWA) president Hayden Groves said the figures from the state's northern towns reflected that most of the sales had occurred at the lower end of the market.

"Broome and Port Hedland have suffered a significant softening in the quarter," he said.

"The bargain hunters have come and picked the eyes out of the market and picked up the bargains.
"That has dragged down the median house price quite significantly in the December quarter."

Mr Groves predicted property prices in Broome and Port Hedland would recover.

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Source: ABC