The State Government’s Pilbara Development Commission has published the June 2019 edition of the Pilbara Half Yearly Housing and Land Snapshot.
The much-anticipated report shows that while the number of houses sold in the Pilbara in the past six months is less than in the same period last year, median house prices have continued to rise.
A total of 237 houses were sold across the Pilbara in the first half of 2019 compared to 360 houses sold in the first half of 2018, and 406 sold in the latter half of 2018.
The median house sale price for the whole Pilbara for the January-June 2019 period was $289,500, which is the highest recorded for a six-month period since 2016.
Median house sale prices in each of the region’s four local government areas (Town of Port Hedland; City of Karratha; Shire of East Pilbara; and Shire of Ashburton) were higher in the first six months of 2019 than they were in the second half of 2018.
City of Karratha recorded the highest median house sale price for the first six months of 2019 at $342,500 (up 7.3 per cent from the first half of 2018) followed by the Shire of Ashburton at $272,250 (up 13.9 per cent from the first half of 2018).
Median unit sale prices for the region also recorded a rise, at $148,150 for the six months to June 2019, compared to $120,000 for the same period in 2018.
Meanwhile, the number of dwellings listed for lease has continued to decrease, with 506 listed in the first half of 2019, down from the 681 listed in the first half of 2018.
The Housing and Land Snapshot is available at https://www.pdc.wa.gov.au/
As stated by Regional Development Minister Alannah MacTiernan:
“The consistent rise in median sale prices, across all markets in the Pilbara, should give confidence to the housing construction and real estate industries that there is significant opportunity in the region.
“Approximately $117 billion worth of projects have either been committed to or are under construction in the Pilbara over the next 10 years, creating an estimated 25,000 jobs in construction and 7,000 operational jobs.
“Many of these roles have been identified as being for residential operational workers.
“Our focus is on ensuring that there will be enough housing, including affordable, suitable rentals, for these expected residential workers as they come on board.
“The McGowan Government will monitor the situation, and we look forward to the Commission’s next snapshot report due in March 2020.”
As stated by Pilbara MLA Kevin Michel:
“The next wave of job-creating projects for the Pilbara is approaching fast and we are working with communities in the region to prepare for it, so that we capitalise on the benefits and manage the impacts.
“To meet the needs of residential workforces, it is vital that there is enough suitable affordable housing in each town for rent and owner-occupation.
“I welcome the publication of this report, which provides data to match the anecdotal evidence I am hearing of positive trends in the Pilbara housing market.”