The South West region led the way for regional house price growth during the September 2022 quarter, with Busselton and Bunbury recording the greatest increases in that period.
reiwa.com data showed Busseltons median house price rose 5.4 per cent to $648,000 during the quarter, while Bunburys increased 2.5 per cent to $410,000.
Busselton was also the top performer annually. Its median house price increased 22.3 per cent on the same time last year.
Port Hedland was second for price growth with its median rising 12.9 per cent to $460,000.
REIWA President Joe White said regional Western Australia was still tracking well, with most areas showing growth or remaining stable over the quarter.
Busselton has been a consistently strong performer over the past few years, both quarterly and annually, which is driven by population growth, Mr White said.
There are three mining companies that fly out of Busselton, so the area is attracting FIFO workers who come down to enjoy the lifestyle.
There is also an increase in the work-from-home/micro business trend; the idea of having to live where you work has changed significantly post-COVID. In this field were seeing a lot of growth in the 25-35 age bracket who are choosing to enjoy the South West lifestyle.
Mr White said Bunbury also attracted FIFO buyers, but its growth related more to its position as a major employment centre.
Bunbury is a bigger regional centre and has a strong industrial and manufacturing base as well as the port. These are all major sources of employment, which attracts residents, he said.
One interesting trend relates to the medical industry. There are two great hospitals in the area that offer the same range of medical services as you would find in Perth.
This is great for residents but is also seeing young medical professionals relocate based on the employment opportunities and lifestyle benefits.
Mr White said Port Hedlands strong annual growth was a reflection of the ongoing effects of the mining-driven employment.
Annually all regional centres have seen growth over the past 12 months, he said.
Regional WA continues to benefit from the states strong economy, jobs market, growing population and peoples desire for a lifestyle change.
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| Regional centre | Median house sale price | Three-month change | 12-month change |
| Albany | $445,000 | +2.3% | +10.0% |
| Broome | $650,000 | +0.0% | +10.9% |
| Bunbury | $410,000 | +2.5% | +7.9% |
| Busselton | $648,000 | +5.4% | +22.3% |
| Esperance | $400,000 | +0.0% | +3.9% |
| Geraldton | $376,000 | +0.3% | +8.6% |
| Kalgoorlie | $330,000 | +0.0% | +1.5% |
| Karratha | $518,000 | -0.4% | +3.6% |
| Port Hedland | $465,000 | -2.3% | +12.9% |
