Geraldton was the top performing regional centre for the March 2025 quarter, according to the latest REIWA data.
Its median house sale price rose 6.5 per cent to $490,000, up from $460,000 in the December 2024 quarter.
It was the second consecutive quarter that the regional centre recorded the strongest price growth.
REIWA Regional Spokesperson Peta McKenzie said the Geraldton market recorded continued growth over the March quarter, driven by strong investor activity.
"There was significant interest from Eastern States investors, particularly for dwellings in the $400,000 to $600,000 range," she said.
"They were looking for well-presented homes offering reasonable yields. These properties generally attracted multiple offers and, in some cases, sold well above the asking price."
Ms McKenzie said investor activity had placed pressure on local buyers.
"REIWA members report investors often secured properties ahead of local owner occupiers by offering slightly more," she said.
"However, since the March quarter, the level of investor activity has softened slightly, and we're hearing reports of a more even mix of buyers again."
Eight of the regional centres recorded price growth over the quarter. Port Hedland was the only regional centre where the median house sale price declined.
Annually, Bunbury saw the highest growth, with the median house sale price rising 25.9 per cent to $616,995. Geraldton followed closely, up 25.6 per cent over the year to $490,000.
Regional rental market
In the rental market, the median weekly rent price rose in four regional centres over the quarter, while five remained unchanged.
Port Hedland saw the most growth, with its median weekly rent increasing 11.8 per cent to $950.
Ms McKenzie said the Port Hedland rental market fluctuated in recent quarters.
"The increase this quarter follows a 12.6 per cent decline in the December 2024 quarter," she said.
"Over the 12 months to March, the Port Hedland market recorded more moderate growth of 5.6 per cent."
Ms McKenzie said a contributing factor to the strong March quarter increase was the type of properties being leased in that period.
"REIWA data shows a higher proportion of leases in the upper end of the market this quarter, which contributed to the rise in the overall median," she said.
"Our members have reported that enquiries remain strong for properties priced between $800 to $1,000 per week, with approximately 70 per cent of enquiries coming from prospective tenants moving to the area for employment opportunities."
Despite the growth in the March quarter, Ms McKenzie said underlying trends suggest the market was easing.
"Our members reported a slower start to the year, with fewer applications per property and some landlords needing to adjust their asking rents to secure tenants," she said.
"It's also taking longer to lease a property, with the median time on market rising more than 50 per cent over the quarter."
Over the year, Esperance recorded the most growth, with its median rent price increasing 57.9 per cent to $600 per week.
However, Ms McKenzie said rent price growth in Esperance was a reflection of challenging market conditions rather than a broad increase in rental prices.
"Very few properties are being advertised for rent – many tenants are staying where they are, either to avoid the challenge of finding another property or because the construction of their new home is taking longer than expected," she said.
"Some owners have also withdrawn properties from the market to accommodate family moving to the area.
"Because of the challenges on the supply side, our members report properties are being leased off-market to those already on agencies' databases, and therefore they don't show in the rental listings data. Those that are advertised are generally larger or furnished properties, or in higher price brackets, and is reflected in the strong annual increase in the median rent price."
Median house price growth
| Regional centre | Median house sale price | Three-month change | 12-month change |
| Albany | $600,000 | +4.3% | +17.6% |
| Broome | $743,000 | +1.9% | +13.7% |
| Bunbury | $616,995 | +3.7% | +25.9% |
| Busselton | $880,000 | +1.1% | +17.3% |
| Esperance | $495,500 | +1.6% | +14.5% |
| Geraldton | $490,000 | +6.5% | +25.6% |
| Kalgoorlie-Boulder | $399,000 | +1.0% | +9.3% |
| Karratha | $610,000 | +6.1% | +10.9% |
| Port Hedland | $525,000 | -2.2% | -2.8% |
Median weekly rent
| Regional centre | Median rent | Three-month change | 12-month change |
| Albany | $550 | +0.0% | +10.0% |
| Broome | $1,050 | +5.0% | -8.7% |
| Bunbury | $600 | +0.0% | +0.0% |
| Busselton | $790 | +1.3% | +12.9% |
| Esperance | $600 | +3.4% | +57.9% |
| Geraldton | $520 | +0.0% | +15.6% |
| Kalgoorlie-Boulder | $650 | +0.0% | +0.0% |
| Karratha | $1,100 | +0.0% | +0.0% |
| Port Hedland | $950 | +11.8% | +5.6% |
