EIGHT of Western Australia's nine regional centres experienced median house sale price growth in the June 2021 quarter, with Port Hedland experiencing the biggest growth rate of 8.8 per cent.
Real Estate Institute of WA (REIWA) president Damian Collins said this marked the fourth quarter in a row that most regional centres had recorded an increase in median house sale price.
"Regional WA's recovery is tracking well," Mr Collins said.
"It's pleasing that the State's strong market conditions are not just contained to Perth, but are being experienced across the regions."
On an annual basis, REIWA data showed all nine regional centres recorded median house sale price growth, with five centres recording more than 20pc growth in the year to June 2021.
"Port Hedland was also the top regional performer on an annual basis - and in fact the top performer of anywhere in the State - with its median house sale price increasing 57.8pc to $359,000 in the year to June 2021," Mr Collins said.
Other regional centres to record strong price growth over the past year were Esperance (up 24pc), Broome (up 22.8pc), Geraldton (up 21.5pc) and Kalgoorlie-Boulder (up 20.4pc).
Five regional centres recorded an increase in listing volumes during the June 2021 quarter.
Karratha recorded the biggest percentage increase in listings (up 45pc), followed closely by Port Hedland (up 44pc), then Broome (up 15pc), Geraldton (up 9pc) and Bunbury (up 2pc).
"With regional WA firmly in a recovery phase, it's clear that property owners are feeling more inclined to sell," Mr Collins said.
"While on an annual basis listings are still mostly down, it's pleasing that we're starting to see more properties come to market.
"There is a strong appetite from buyers which is creating competition and helping drive up house prices."
Busselton and Albany recorded the biggest decline in listing volumes during the quarter, with stock levels in both regional centres dropping 17pc during the quarter.
The median time to sell a property declined in seven regional centres during the June 2021 quarter.
Busselton recorded the biggest reduction in time, with its median selling time dropping 23 days to 16 days during the quarter.
"With limited listing stock available in the area, buyers are needing to act very quickly in Busselton to secure a property," Mr Collins said.
"The recovery of the regional sales markets shows no signs of slowing down.
"With prices up and competition amongst buyers high, conditions are very favourable for sellers in our regional markets.
"REIWA anticipates that the strong growth recorded across regional WA during the 2020-21 financial year will continue throughout the latter half of 2021 and into 2022."
