The Wheatbelt's property market has been described as 'subdued' by an industry expert, but the largest growth in the region has been recorded in Northam.
The latest available data from the Real Estate Institute of Western Australia (REIWA) shows Northam's real estate sector has seen growth over the last 12 months.
In the first quarter of 2019 from January to March, there were 87 house sales in Northam, compared to 77 in the equivalent time period in 2018.
The median sale price increased from $211,000 to $230,000, with the highest sale price jumping from $505,000 to $770,000.
The median rent price went up from $270 per week to $280.
In Toodyay, the number of house sales fell from 22 to 11, while the median sale price dropped from $289,500 to $276,000.
The highest sale price was relatively consistent from $465,000 to $460,000, while the average rent price increased from $330 to $350 per week.
In York, the number of properties sold increased over 12 months, but the median price fell.
In the March 2019 quarter there were 37 house sales, up from 30, but the average sales price fell from $280,000 to $268,000.
The highest sale price went up from $490,000 to $530,000, while the median rent increased from $310 to $320 per week.
REIWA deputy president Lisa Joyce said the Wheatbelt property market had stabilised but still "remained challenging for sellers."
"Data shows sales volumes were subdued," she said.
"In more positive news, median sale prices held up well, with a 2.5 per cent increase recorded to the median house price during the quarter.
"As of March 2019, Northam's median sale price stabilised at $230,000, with a 9 per cent increase to the annual change for one year median - the largest growth in the Wheatbelt.
"York and Toodyay on the other hand had a decline of 4.3 per cent and 4.7 per cent.
"While overall sales volumes remain subdued across regional WA, median house sale prices are holding up well.
"Once the changes to Australian Prudential Regulation Authority, Reserve Bank of Australia rate cuts and Keystart initiative are in full effect, we would hope to see an increase of buyers which may lead to the beginning of a recovery."
Meanwhile, new home builds and building approvals remain seldom across the region.
The latest available Australian Bureau of Statistics data shows in May 2019 there were only two new building approvals granted in both Northam and Toodyay, with only one approved in York.
Gareth McKnight
Gareth McKnight is Mandurah Mail's editor.
Gareth McKnight is Mandurah Mail's editor.
