Geraldton Real Estate update

Latest numbers from REIWA show the Geraldton-Greenough region experienced strong sales numbers for the final quarter of 2017. 

Once sold properties for the quarter have settled, it seems total house sales for the region will be close to 135 with a median price of approximately $300,000. This would represent an appreciation of 1.7% in the median house prices over the previous quarter and a massive 57% rise in sales activity.

House listings have increased by 7.4% against the previous quarter and are 3.6% higher than the same time last year.

The average time to sell a house has remained constant at 101 days.

Western Australia's population was estimated at 2.58 million people, which is up 0.8% from 2016. Geraldton’s population in 2017 was recorded as 38,289, which was a decrease of 1% from 2016.

In residential rentals for the local region news is positive. It is reported that 285 total properties of houses and units leased over the quarter, which is an increase of 11.3% from the September quarter.

However the overall median weekly rent in the area came in at $265 per week, which is $8 lower than the September quarter.

Our thanks to REIWA and Geraldton Property Team for the information.