WA news LIVE: Regional home buyers flock to South West town; Perth forced marriages tip of the iceberg

Bunbury was the top-performing regional centre for house price growth for the September 2024 quarter, according to the latest data from REIWA.

Its median house sale price rose 6.7 per cent to $555,000, up from $520,000 in the previous quarter.

Bunbury also saw the most growth over the year, the median rising 24.2 per cent.

REIWA regional spokesperson Joe White said Bunbury was attractive as a large regional centre with good employment opportunities, medical facilities and schools.

“I’ve previously talked about the role the Busselton Airport has played in the area, allowing FIFO workers and their families to enjoy a South West lifestyle,” he said.

“It is also very affordable when compared to Busselton and Dunsborough. Our members are reporting an increasing number of buyers who are finding these areas out of reach and are looking at Bunbury instead.”

White said the $650,000-$800,000 price bracket was currently the most active part of the market.

While the market remained competitive and prices were still rising, REIWA members were reporting buyers were becoming more price-sensitive, viewing multiple properties before deciding and being open about this with agents.

White said small changes in supply and demand led to this: firstly, more properties coming to market was giving people more choice and less urgency, reflected in the median sell time rising from 12 days to 14 in the September quarter.

Secondly, as prices had risen, eastern states investor activity had slowed, softening competition.

Seven of the regional centres recorded price growth over the quarter. Prices remained stable in Karratha and Port Hedland was the only one where the median house price declined.

Annually, Karratha was the only regional centre to record a decline.

Regional rental market

In the rental market, four regional centres recorded an increase in their median weekly rent over the quarter. Two remained unchanged and three saw a decline.

Kalgoorlie-Boulder recorded the most growth, its median rent increasing 8.3 per cent to $650 per week.