January – June 2022 (H1)
Housing and Land Summary GOLDFIELDS-ESPERANCE
Publication Goldfields-Esperance Residential Housing and Land Summary Reporting Period 1 Jan – 30 June 2022 Published September 2022
The information and data contained in this document were predominantly gathered from Landgate, and supplemented with data acquired from Domain and SQM Research. No person should act on the basis of any matter contained in this document without considering and, if necessary, taking appropriate professional advice. Neither the Commission, Urbis, or their employees undertake responsibility to any person or organisation in respect to this document.
Table of Contents Economic Overview
5
Residential Property Market Overview
6
Dwelling Construction Overview
10
Lot Activity Overview
11
Local Government Area Spotlights
12
- City of Kalgoorlie-Boulder
12
- Shire of Esperance
16
- Shire of Ravensthorpe
20
- Shire of Coolgardie
24
- Shire of Dundas
28
- Northern Goldfields and Ngaanyatjarra Lands
32
Kalgoorlie-Boulder Suburb Spotlights
36
RegionOverview Region Overview
The Goldfields-Esperance region of Western Australia covers an expansive 950,450 square kilometres - over a third of WA’s total land mass. The region’s main population centres are Kalgoorlie-Boulder and Esperance. The Goldfields-Esperance Development Commission (GEDC) is a State Government agency that supports economic development across the region and State. This residential housing and land summary is the fourth in a periodic series prepared to help inform stakeholders about residential property market data, trends and issues.
This summary edition covers the first half of 2022 and provides a profile for the ten local government areas in the region, as well as suburb profiles for the City of Kalgoorlie-Boulder. Given the relatively low population levels and the minimal residential market activity in the Northern Goldfields and Ngaanyatjarra Lands local government authorities, a combined section details market data and trends for these areas.
4
Economic Overview
The Goldfields-Esperance region has played a significant role in the economic development of Western Australia since the discovery of gold in the late 1800s. It is now recognised as one of the world’s most significant mining regions, producing not only gold but a range of commodities including nickel and, increasingly, battery technology and critical minerals. At present, the mining sector accounts for approximately 64 percent of total regional economic output, generating around $18.3 billion a year. The sector also supports around 11,200 jobs – over a third of all jobs in the region.1 Other important industries in the region are health care and social assistance, retail trade, education and training, construction and agriculture. Goldfields-Esperance mineral sales increased by 2.3 percent in the year to June 2022.2 Gold production remains a mainstay of the local mining sector. Regional gold production is set to increase, with a number of new, expansion and reactivation projects in development. There is also growing investor interest in the Goldfields-Esperance region’s reserves of battery and technology minerals of a quality suitable for lithium-ion battery manufacturing and other advanced applications. Global demand for lithium is forecast to grow strongly in the coming years. The region is also emerging as a globally important producer of rare earth elements.
increased by 10 percent to $10.3 billion between 2020 and 2021.3 The Esperance Port Zone, which covers the Esperance and Ravensthorpe LGAs, generates about one fifth of WA’s total cereal (wheat, barley, canola) production each season. Annual broadacre crop production is around 2.6 million tonnes. Regional unemployment declined from 2.8 percent in December 2021 to 2.3 percent in March 2022. The major population centres recorded a further tightening of local labour markets, with a jobless rate in both Kalgoorlie-Boulder and Esperance of only 1.8 percent in March 2022.4 The level of job recruitment activity as measured by job advertisements - in the region continues to exceed pre-COVID-19 pandemic levels, up by between 75 and 100 percent.5
The region’s real gross domestic product (GSP) 1. REMPLAN. 2. Department of Jobs, Tourism, Science and Innovation. 3. REMPLAN. 4. National Skills Commission, ABS, REMPLAN. 5. Labour Market Information Portal.
$28.9 billion
Total economic output (2021)
2.3%
Unemployment rate (March 2022)
32,605
Jobs in the region 5
Residential Property Market Overview
The Goldfields-Esperance region is characterised by a mixture of housing and land markets. These include those in the larger urban areas such as KalgoorlieBoulder and Esperance, small established towns, rural properties, remote Aboriginal communities and worker accommodation camps attached to resource projects. The provision of adequate and affordable housing – both to rent and to buy – continues to be a key issue for the region.
The region’s rental market remained exceptionally tight during the first half of 2022. As of June 2022, the regional rental vacancy rate was 0.47 percent. Median rents surged by 21 percent over the year to H1 2022, reaching $435 a week. Over a 5-year period, regional median weekly rents have increased by 45 percent. The limited supply of rental properties and fast rising rents continue to present challenges for current and prospective residents.
It is important to reiterate that many communities in the region do not have a formal rental market and rely on State Government provided social and government officers accommodation. The Goldfields Voluntary Regional Organisation of Councils (GVROC) has identified a need to expand the provision of such housing. Local governments report that the limited availability and quality of Government Regional Officer Demand for units continued to grow during H1 2022, with Housing (GROH) is an impediment to attracting key the region experiencing the highest number of unit sales public sector workers to fill positions in local in a decade (92 transactions). The number of unit sales communities. in H1 2022 was nearly four times higher than the same The region recorded 58 vacant residential land sales in period in 2019 (pre-pandemic). H1 2022, indicating that land sales activity has stabilised Regional median house prices increased by 4 percent after a highpoint in 2020. However, vacant land over the year to June 2022, while the regional median transaction activity remains elevated compared to preunit price increased by 13 percent over the same period. pandemic levels. During H1 2022, residential property on the market sold at the fastest rate in a decade. For all residential property In terms of regional residential land supply, the developers’ stock of proposed residential lots with classes, the average time to sell fell by 30 percent conditional approval stood at 432 at the end of June compared to the same period a year earlier, from 84 2022 – an 8 percent increase compared to the same days in H1 2021 to 59 days in H1 2022. period in 2021. 6
Across the region, house and unit sales activity remains elevated compared to pre-COVID-19 pandemic levels. The total number of house transactions (sales) during the January-June 2022 (H1 2022) period was 566 – 91 percent higher than the same period in 2019. However, house sales volumes during H1 2022 were 10 percent lower than the year before (H1 2021).
Residential Sales Overview GOLDFIELDS-ESPERANCE
Key Statistics
Residential Market Trends 2012 - 2022
Median House Price Jan – Jun 2022
+4%
$400,000
800
$300,000
600
$200,000
400
$100,000
200
$0
1 Year Median House Price Growth Rate H1 2021 – H1 2022
0
Number of Transactions (6 months)
Number of Transactions
$326,020
Median Price
House Prices
Median Price
GRAPH TBC
Median Unit Price Jan – Jun 2022
+13%
$400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0
1 Year Median Unit Price Growth Rate H1 2021 – H1 2022
100 80 60 40 20 0
Number of Transactions (6 months)
Number of Transactions
$239,500
Median Price
Unit Prices
Median Price
+10%
1 Year Median Vacant Land Price Growth Rate H1 2021 – H2 2022 Source: Settled Sales sourced from Landgate
GRAPH TBC
100 80
$150,000
60
$100,000
40
$50,000
20 0
$0 H1 2012 H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017 H2 2017 H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022
Median Vacant Land Price Jan – Jun 2022
Median Price
$127,000
$200,000
Number of Transactions (6 months)
Median Price
7
Number of Transactions
Vacant Land Prices
Residential Sales Overview GOLDFIELDS-ESPERANCE
Discount on Original Price 2012 - 2022
Key Statistics
Vendor Discounting 0.0%
716
-2.0% Median Price
Property Transactions Jan – Jun 2022
- 5%
Average Discount On Listing Price Jan – Jun 2022
-4.0% -6.0% -8.0% -10.0% -12.0% -14.0%
59
Average Days to Sell Jan – Jun 2022
GRAPH TBC H1 2012 H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017 H2 2017 H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022
-16.0%
Average Discount on Original Listing Price
10 year average
Residential Market Summary, January – June 2022 Sales Summary
House
Unit
Vacant Land
Median Price
$326,020
$239,500
$127,000
10-Year Average
$305,000
$231,500
$153,000
Variation from Avg. Price
7%
3%
-17%
Number of Transactions
566
92
58
House
Unit
Vacant Land
1 Year (Jan 2021-2022)
4%
13%
10%
3 Year (Jan 2019-2022)
18%
13%
11%
5 Year (Jan 2017-2022)
14%
29%
2%
10 Year (Jan 2012-2022)
1%
-4%
-13%
Price Growth
Median Price by Bedroom
1 Bed
2 Bed
3 Bed
4 Bed
Overall
House
$281,250
$260,000
$300,000
$450,000
$326,020
Unit
$140,000
$227,500
$291,000
$425,000
$239,500
Source: Settled Sales sourced from Landgate
8
Rental Overview GOLDFIELDS-ESPERANCE
Rental Market Trends 2017 - 2022
Rental Statistics
514
Median Price
Dwellings Leased Jan – Jun 2022
$435
Median Weekly Rent Jan – Jun 2022
500 450 400 350 300 250 200 150 100 50 0
GRAPH TBC
Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022
+$76 (+21%)
$500 $450 $400 $350 $300 $250 $200 $150 $100 $50 $0
Increase in Median Weekly Rent H1 2021 – H1 2022
Dwellings Leased
Median Weekly Rent
Median Days To Lease 45
18
40
Median Days to Lease Jan – Jun 2022
35
Days
30
0.47%
25 20 15
Vacancy Rate, Jun 2022
10
90
5 0
Dwellings Listed For Rent Week of 25 Jun 2022
Rental Market Summary, H1 2022 Median Rent by Bedroom
1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom
5+ Bedroom
Overall
House
$279
$355
$437
$525
$778
$455
Unit
$323
$375
$470
$650
-
$398
Weighted average of March and June 2022 quarters
Source: Online Property Listings sourced from Domain Weekly, Vacancy Rates sourced from SQM Research
9
Number of Transactions
Rental Market
Dwelling Construction Overview GOLFIELDS-ESPERANCE
Approval Statistics
Residential Building Approvals 2021-22 Residential Building Approvals (No.) 250
101
(-32% YOY)
New Houses Approved 2021-22
200 150 100 50 0
GRAPH TBC
$51.26m
Total Value of Residential Building Approved 2021-22
New Houses
New Other Residential
Total
Value of Residential Building Approvals ($) $90,000,000 $80,000,000
$104.48m
Total Value of NonResidential Building Approved 2021-22
$70,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000 $
Source: REMPLAN, ABS - Building Approvals, Cat. 8731.0.
10
Lot Activity Overview GOLDFIELDS-ESPERANCE
State Lot Activity - Residential, January – June 2022 GoldfieldsApplications under Developerlodged assessment Esperance Regional applications (proposed lots at Activity Summary – (proposed lots) end of Mar 22) Q1 2022
Conditional approvals (proposed lots)
Developers’ stock of conditional approvals Final Approvals (proposed lots at end of Mar 22)
Kalgoorlie-Boulder (C)
84
84
60
192
2
Esperance (S)
3
1
2
268
0
Remaining LGAs
1
0
0
Total
88
85
62
GoldfieldsApplications under Developerlodged assessment Esperance Regional applications (proposed lots at Activity Summary – (proposed lots) end of Jun 22) Q2 2022
GRAPH TBC
Conditional approvals (proposed lots)
6
0
466
2
Developers’ stock of conditional approvals Final Approvals (proposed lots at end of Jun 22)
Kalgoorlie-Boulder (C)
80
74
85
249
34
Esperance (S)
2
1
2
177
0
Remaining LGAs
15
15
0
6
1
Total
97
90
87
432
35
Comparative Quarterly Change (Totals)
+10%
+6%
+40%
-7%
+1650%
Final approval is defined as Western Australian Planning Commission (WAPC) endorsement of the proponent’s submitted deposited plan or strata/ survey strata plan describing the now complete subdivision constructed in accordance with the conditions set down in the conditional approval. Deposited plans/strata plans that have final approval are registered with Landgate (formerly Department of Land Information) where certificates of titles for the newly created lots can be issued. The characteristic difference in lot numbers seen between conditional and final approvals arises from proponents choosing not to proceed with the subdivision in the specified four year period in accordance with the conditions of the conditional approval either at all, only in part, or via another conditional approval incorporating a new plan for the subject land. More definitions can be found on the WA Department of Planning, Lands and Heritage website. Source: State Lot Activity sourced from the Department of Planning, Lands and Heritage (DPLH)
11
City of Kalgoorlie-Boulder SPOTLIGHT
Residential Market The City of Kalgoorlie-Boulder is the largest residential market in the Goldfields-Esperance region. The market is characterised by a range of established suburbs, with moderate infill and land subdivision. Kalgoorlie-Boulder market activity remained elevated during the first half of 2022. The number of recorded house transactions (sales) was 360 – an increase of 106 percent compared to the same period in 2019. House prices increased by 5 percent over the 12month period. Unit sales volumes in the City of Kalgoorlie-Boulder were the highest in a decade. The median price of units increased by 10 percent between H1 2021 and H1 2022. Over a three-year period, median unit prices have risen by 39 percent. The median price of vacant residential land sold increased by 28 percent in the year to June 2022. Land transaction volumes returned to levels more
consistent with historical norms, following a spike in activity during the second half of 2020. The rental vacancy rate in the City of KalgoorlieBoulder furthered tightened to 0.3 percent, while the median weekly rent price increased by 26 percent between H1 2021 and H1 2021.
Population and Demographics Kalgoorlie-Boulder was home to an estimated 30,674 people in 2021. Based on ABS estimates, the resident population of Kalgoorlie-Boulder declined by 4.8 percent over the decade to 2021. However, it should be noted that Kalgoorlie-Boulder has a substantial and growing non-resident workforce. This is not reflected in population statistics, but has a significant impact on the residential market, particularly the rental market. Accommodation of the growing non-residential workforce is limiting dwellings available for the residential workforce and those wishing to relocate to Kalgoorlie-Boulder to live and work.
+5%
$1,600/m
+26%
$2,324/wk
Median House Price Change (YOY)
Asking Rental Price (YOY)
Median Mortgage Repayment
Median Household Income
12
Residential Sales Overview CITY OF KALGOORLIE-BOULDER
Residential Market Trends, 2012 - 2022
Key Statistics
Median House Price Jan – Jun 2022
5%
$400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0
1 Year Median House Price Growth rate H1 2021 – H1 2022
450 400 350 300 250 200 150 100 50 0
Number of Transactions
Number of Transactions
$335,000
Median Price
House Prices
Median Price
GRAPH TBC
Median Unit Price Jan – Jun 2022
90 80 70 60 50 40 30 20 10 0 H1 2012 H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017 H2 2017 H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022
10%
$400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0
Number of Transactions
$237,000
Median Price
Unit Prices
1 Year Median Unit Price Growth Rate H1 2021 – H2 2022
Number of Transactions
Median Price
28%
1 Year Median Vacant Land Price Growth Rate H1 2021 – H1 2022 Source: Settled Sales sourced from Landgate
GRAPH TBC
45 40 35 30 25 20 15 10 5 0
Number of Transactions
Median Price
Number of Transactions
Median Vacant Land Price Jan – Jun 2022
$200,000 $180,000 $160,000 $140,000 $120,000 $100,000 $80,000 $60,000 $40,000 $20,000 $0
H1 2012 H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017 H2 2017 H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022
$101,500
Median Price
Vacant Land Prices
Residential Sales Overview CITY OF KALGOORLIE-BOULDER
Key Statistics
Discount on Original Price, 2012 - 2022 Vendor Discounting
-6.0% -8.0% -10.0%
Average Discount on Original Listing Price
Average Days to Sell Jan – Jun 2022
H1 2022
H2 2021
H1 2021
H2 2020
H1 2020
H2 2019
H1 2019
H2 2018
H1 2018
H2 2017
H1 2017
H2 2016
H1 2016
GRAPH TBC H2 2015
H1 2015
H2 2014
H1 2014
56
H2 2013
-14.0%
H1 2013
-12.0%
Average Discount On Listing Price Jan – Jun 2022
H2 2012
- 5%
-4.0%
H1 2012
Property Transactions Jan – Jun 2022
-2.0% Median Price
462
0.0%
10 year average
Residential Market Summary, January – June 2022 Sales Summary
House
Unit
Vacant Land
Median Price
$335,000
$237,000
$101,500
10-Year Average
$320,000
$230,000
$160,000
Variation from Avg.
5%
3%
-37%
Number of Transactions
360
80
22
Price Growth
House
Unit
Vacant Land
1 Year (Jun 2021-2022)
5%
10%
28%
3 Year (Jun 2019-2022)
12%
12%
-13%
5 Year (Jun 2017-2022)
11%
39%
-19%
10 Year (Jun 2012-2022)
-3%
-1%
-45%
Median Price by Bedroom
1 Bed
2 Bed
3 Bed
4 Bed
Overall
House
$282,500
$302,000
$316,500
$435,500
$335,000
Unit
$140,000
$227,500
$290,000
$425,000
$237,000
Source: Settled Sales sourced from Landgate
14
Rental Overview
CITY OF KALGOORLIE-BOULDER
Rental Market Trends, 2017 - 2022
Rental Statistics
Dwellings Leased and Rents
380
$600
400 350
$500
Dwellings Leased Jan – Jun 2022
300
$400
$464
250 200
$300
150
$200
Median Weekly Rent Jan – Jun 2022
100
$100
50
$0
+$95 (+26%)
0
GRAPH TBC
Increase in Median Weekly Rent H1 2021 – H1 2022
Dwellings Leased
Median Weekly Rent
Median Days To Lease
17
40 35
Median Days to Lease Jan – Jun 2022
30 25
0.3%
20
Vacancy Rate, June 2022 down from 1.35% in June 2021
15
47
5
10
Q2 2022
Q1 2022
Q4 2021
Q3 2021
Q2 2021
Q1 2021
Q4 2020
Q3 2020
Q2 2020
Q1 2020
Q4 2019
Q3 2019
Q2 2019
Q1 2019
Q4 2018
Q3 2018
Q2 2018
Q1 2018
Q4 2017
Q3 2017
Q1 2017
Q2 2017
0
Dwellings Listed For Rent Week of 25 Jun 2022
Rental Market Summary, H1 2022 Median Rent by Bedroom
1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom
5+ Bedroom
Overall
House
$260
$373
$464
$617
$833
$490
Unit
$319
$397
$469
$650
-
$406
Weighted average of March and June 2022 quarters Source: Online Property Listings sourced from Domain, Vacancy Rates sourced from SQM Research
15
Shire of Esperance SPOTLIGHT
Residential Market Housing stock in the Shire of Esperance is largely comprised of single residential houses in Esperance and surrounding rural areas. As of the 2021 Census, 87 percent of dwellings were single houses, with a further 8.3 percent considered to be semi-detached, terrace or a townhouse. There is relatively high level of holiday home stock as suggested by the estimated 17 percent of dwellings unoccupied. The Esperance house market continued to experience significant price growth during the first half of 2022, with the median house price increasing by 17 percent year-on-year. However, this was outpaced by growth in the unit market, which experienced annual median price growth of 33 percent. The median price of vacant residential land decreased by 24 percent over the same period.
Esperance house, unit and land transaction volumes were lower compared to the same period in 2021, suggesting a slowdown in buyer activity following two years of elevated transaction volumes. With a vacancy rate of 0.1 percent at the end of June 2022, the Esperance rental market continued to exhibit exceptional tightness, presenting ongoing availability and affordability challenges. The median rent price in Esperance increased by 5 percent to $363 a week over the year to June 2022.
Population and Demographics Esperance is home to an estimated 14,398 people. Based on ABS figures, the resident population is estimated to have increased by 3.8 percent in the decade to 2021. There were 3,441 families residing in the Shire of Esperance as of the 2021 Census. Median monthly mortgage repayments were 15 percent lower than the Western Australian median.
+17%
$1,560/m
2.4
$1,521/wk
Median House Price Change (YOY)
Average Household Size
Median Mortgage Repayment
Median Household Income
16
Residential Sales Overview SHIRE OF ESPERANCE
Key Statistics
Residential Market Trends, 2012 - 2022
Median House Price Jan – Jun 2022
17%
1 Year Median House Price Growth rate H1 2021 – H1 2022
$450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0
200 180 160 140 120 100 80 60 40 20 0
Number of Transactions
$410,000
Median Price
House Prices
GRAPH TBCMedian Price Number of Transactions
8
$200,000
6
$150,000
4
$100,000
Number of Transactions
H1 2022
H2 2021
H1 2021
H2 2020
H1 2020
H2 2019
H1 2019
H2 2018
H1 2018
H2 2017
H1 2017
H2 2016
H1 2016
H2 2015
0 H1 2015
$0 H2 2014
2 H1 2014
$50,000
Number of Transactions
10
$250,000
H1 2012
1 Year Median Unit Price Growth Rate H1 2021 – H2 2022
$300,000
H2 2013
33%
12
H1 2013
Median Unit Price Jan – Jun 2022
$350,000
H2 2012
$300,000
Median Price
Unit Prices
Median Price
GRAPH TBC
$250,000
$50,000
Number of Transactions Source: Settled Sales sourced from Landgate
Median Price
H1 2022
H2 2021
H1 2021
H2 2020
H1 2020
H2 2019
H1 2019
H2 2018
H1 2018
H2 2017
H1 2017
H2 2016
H1 2016
H2 2015
H1 2015
H2 2014
H1 2014
H2 2013
$0 H1 2013
1 Year Median Vacant Land Price Growth Rate H1 2021 – H1 2022
$100,000
H2 2012
-24%
$150,000
H1 2012
Median Vacant Land Price Jan – Jun 2022
$200,000
Median Price
$160,000
50 45 40 35 30 25 20 15 10 5 0
Number of Transactions
Vacant Land Prices
Residential Sales Overview SHIRE OF ESPERANCE
Discount on Original Price, 2012 - 2022
Key Statistics
Vendor Discounting
Median Price
Property Transactions Jan – Jun 2022
- 4%
Average Discount On Listing Price Jan – Jun 2022
0.0% -2.0% -4.0% -6.0% -8.0% -10.0% -12.0% -14.0% -16.0%
54
Average Days to Sell Jan – Jun 2022
GRAPH TBC H1 2012 H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017 H2 2017 H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022
137
Average Discount on Original Listing Price
10 year average
Residential Market Summary, January – June 2022 Sales Summary
House
Unit
Vacant Land
Median Price
$410,000
$300,000
$160,000
10-Year Average
$350,000
$275,000
$168,000
Variation from Avg.
17%
9%
-5%
Number of Transactions
112
8
17
Price Growth
House
Unit
Vacant Land
1 Year (Jun 2021-2022)
17%
33%
-24%
3 Year (Jun 2019-2022)
38%
26%
-2%
5 Year (Jun 2017-2022)
29%
30%
3%
10 Year (Jun 2012-2022)
16%
-7%
14%
Median Price by Bedroom
1 Bed
2 Bed
3 Bed
4 Bed
Overall
House
$382,000
$288,000
$392,500
$547,500
$410,000
Unit
-
$270,000
$320,000
Source: Settled Sales sourced from Landgate
$300,000 18
Rental Overview SHIRE OF ESPERANCE
Rental Statistics
Rental Market Trends, 2017 - 2022
62
Median Price
Dwellings Leased Jan – Jun 2022
$363
Median Weekly Rent Jan – Jun 2022
$400
80
$350
70
$300
60
$250
50
$200
40
$150
30
$100
20
$50
10
$0
+$18 (+5%)
0
GRAPH TBC
Increase in Median Weekly Rent H1 2021 – H1 2022
Dwellings Leased
Number of Transactions
Dwellings Leased and Rents
Median Weekly Rent
Median days to lease 60 50
17
40
Days
Median Days to Lease, Jan – Jun 2022
0.1%
30 20 10
Vacancy Rate, Jun 2022, down from 0.2% in June 2021
Q2 2022
Q1 2022
Q4 2021
Q3 2021
Q2 2021
Q1 2021
Q4 2020
Q3 2020
Q2 2020
Q1 2020
Q4 2019
Q3 2019
Q2 2019
Q1 2019
Q4 2018
Q3 2018
Q2 2018
Q1 2018
Q4 2017
5
Q3 2017
Q2 2017
0
Dwellings Listed For Rent Week of 25 Jun 2022
Rental Market Summary, H1 2022 Median Rent by Bedroom
1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom
5+ Bedroom
Overall
House
$280
$317
$368
$470
-
$378
Unit
-
$308
$358
-
-
$309
Weighted average of March and June 2022 quarters Source: Online Property Listings sourced from Domain, Vacancy Rates sourced from SQM Research
19
Shire of Ravensthorpe SPOTLIGHT
Residential Market
Population and Demographics
The Shire of Ravensthorpe includes the towns of Hopetoun and Ravensthorpe, and rural locations. The key industries in the area are nickel and lithium mining, and livestock and crop farming. As a result, the unit market in the Shire is very small with the vast majority of housing stock classified as detached houses.
The Shire of Ravensthorpe is home to an estimated 2,157 people. Based on ABS data, the resident population declined by 1.4 percent in the decade to 2021. The resident population continues to fluctuate considerably due to changes in the local resources sector. Resource sector activity has experienced an upswing in recent years, with the local resource sector seeking to use residential-based workers where possible, resulting in increased demand for dwellings in Ravensthorpe and Hopetoun.
The Shire of Ravensthorpe experienced continued strong median house price growth in the first half of 2022, with prices rising 34 percent between H1 2021 and H1 2022. Median price growth over the last three years was 53 percent. House and vacant land transactions (sales) during H1 2022 reached the highest level in a decade. The local rental market across the Shire remained tight in 2022, although it is important to note that the Shire has a small formal rental market. Ravensthorpe recorded a rental vacancy rate of 0.8 percent during June 2022, while Hopetoun’s vacancy rate was even lower at 0.3 percent. This rental market tightness in part reflects increased mining investment in the area. Weekly median rents rose by 56 percent year-on-year.
2.2
Average Household Size
Median monthly mortgage repayments in the Shire of Ravensthorpe are $1,029 – 44 percent lower than the Western Australian median. As of the 2021 Census, 505 families resided in the Shire.
+34%
Median House Price Change (YOY)
$1,029/m Median Mortgage Repayment
$1,655/wk Median Household Income
20
Residential Sales Overview SHIRE OF RAVENSTHORPE
Key Statistics
Residential Market Trends, 2012 - 2022
Median House Price Jan – Jun 2022
34%
1 Year Median House Price Growth rate H1 2021 – H1 2022
$350,000
30
$300,000
25
$250,000
20
$200,000
15
$150,000
10
$100,000 $50,000
5
$0
0
Number of Transactions
$285,000
Median Price
House Prices
GRAPH TBC Median Price Number of Transactions
-87%
$150,000 $100,000 $50,000 $0 H1 2012 H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017 H2 2017 H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022
1 Year Median Unit Price Growth Rate H1 2021 – H2 2022
$200,000
Median Price
Median Unit Price Jan – Jun 2022
10 9 8 7 6 5 4 3 2 1 0
$250,000
$29,000
Number of Transactions GRAPH TBC Median Price
Ravensthorpe does not feature an active unit market, with only a small number of dwellings that can be considered units. As such, unit trends have not been featured.
Source: Settled Sales Sourced from Pricefinder
21
Number of Transactions
Vacant Land Prices
Residential Sales Overview SHIRE OF RAVENSTHORPE
Key Statistics
Discount on Original Price, 2012 - 2022 Vendor Discounting 0.0%
34
-5.0% Median Price
Property Transactions Jan – Jun 2022
- 6%
Average Discount On Listing Price Jan – Jun 2022
-10.0% -15.0% -20.0% -25.0% -30.0% -35.0%
115
GRAPH TBC
Average Discount on Original Listing Price
Average Days to Sell Jan – Jun 2022
10 year average
Residential Market Summary, January – June 2022 Sales Summary
House
Unit
Vacant Land
Median Price
$285,000
-
$29,000
10-Year Average
$210,000
-
$72,500
Variation from Avg.
36%
-
-60%
Number of Transactions
25
-
9
Price Growth
House
Unit
Vacant Land
1 Year (Jun 2021-2022)
34%
-
-87%
3 Year (Jun 2019-2022)
54%
-
93%
5 Year (Jun 2017-2022)
27%
-
-45%
10 Year (Jun 2012-2022)
56%
-
-81%
Median Price by Bedroom
1 Bed
2 Bed
3 Bed
4 Bed
Overall
House
-
$155,000
$287,500
$389,000
$285,000
Unit
-
-
-
-
-
Source: Settled Sales sourced from Landgate
22
Rental Overview SHIRE OF RAVENSTHORPE
Rental Statistics
Rental Market Trends, 2017 - 2022
24
Median Price
Dwellings Leased Jan – Jun 2022
$437
Median Weekly Rent Jan – Jun 2022
+$157 (+56%)
$500 $450 $400 $350 $300 $250 $200 $150 $100 $50 $0
18 16 14 12 10 8 6 4 2 0
GRAPH TBC
Increase in Median Weekly Rent H1 2021 – H1 2022
Dwellings Leased
Number of Transactions
Dwellings Leased and Rents
Median Weekly Rent
Median Days to Lease 90 80 70
22
60
Median Days to Lease Jan – Jun 2022
50
0.4%
30
40 20
Vacancy Rate, Jun 2022
10 0
6
Dwellings Listed For Rent Week of 17 Jun 2022
Rental Market Summary, H1 2022 Median Rent by Bedroom
1 Bedroom
2 Bedroom
3 Bedroom
4 Bedroom 5+ Bedroom
Overall
House
-
$305
$328
$450
-
$437
Unit
-
-
-
-
-
-
Weighted average of March and June 2022 quarters Source: Online Property Listings sourced from Domain, Vacancy Rates sourced from SQM Research
23
Shire of Coolgardie SPOTLIGHT
Residential Market The Shire of Coolgardie includes the townsites of Kambalda, supported by nickel and gold mining, and historic Coolgardie, which is developed around significant gold mining operations. Both towns have substantial non-resident workforces and a high proportion of employer provided housing which is not represented in housing market activity datasets. The Shire of Coolgardie continued its recent strong house price growth and sales volume trajectory during the January-June period of 2022. Year-onyear median house price growth was 21 percent. Median house price growth over the last three years was 71 percent. House transaction volumes have remained elevated since the second half of 2020.
The vast bulk of the Shire’s rental stock is located in Kambalda. Median rent prices in the Shire of Coolgardie increased significantly over the last 12 months to June, rising by 48 percent from $214 per week in H1 2021 to $316 in H1 2022. Across the Shire, the rental vacancy rate was 3 percent at the end of June 2022. The vacancy rate in Kambalda was 2.4 percent.
Population and Demographics The Shire of Coolgardie was home to an estimated 3,638 people in 2021. Over the 2011-21 period, the resident population declined by an estimated 12 percent, though this does not accurately capture transient population and more recent activity. Median monthly mortgage repayments are 47 percent lower than the Western Australian median, while the median household income is 4.2 percent higher than the WA median.
+21%
$975/m
2.5
$1,893/wk
Median House Price Change (YOY)
Average Household Size
Median Mortgage Repayment
Median Household Income
24
Residential Sales Overview SHIRE OF COOLGARDIE
Key Statistics
Residential Market Trends, 2012 - 2022
$133,500
Median House Price Jan – Jun 2022
Median Price
$200,000
70 60
$150,000
50 40
$100,000
21%
30
$50,000
20
$0
0
1 Year Median House Price Growth rate H1 2021 – H1 2022
10
Number of Transactions
GRAPH TBC
Number of Transactions
House Prices
Median Price
8 7 6 5 4 3 2 1 0
$140,000
Median Unit Price Jan – Jun 2022
4
Median Price
$112,500
$120,000 $100,000 $80,000 $60,000 $40,000 $20,000 $0 H1 2012 H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017 H2 2017 H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022
Number Of Unit Transactions For This Period
Number of Transactions
Unit Prices
Number of Transactions
Median Price
131%
1 Year Median Vacant Land Price Growth Rate H1 2021 – H1 2022 Source: Settled Sales sourced from Landgate
14
GRAPH TBC
12 10 8 6 4 2 0
Number of Transactions
Median Price
25
Number of Transactions
Median Vacant Land Price Jan – Jun 2022
$100,000 $90,000 $80,000 $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $0
H1 2012 H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017 H2 2017 H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022
$19,250
Median Price
Vacant Land Prices
Residential Sales Overview SHIRE OF COOLGARDIE
Discount on Original Price, 2012 - 2022
Key Statistics
Vendor Discounting 0.0%
61
-5.0%
-20.0% -25.0%
Average Discount on Original Listing Price
Average Days to Sell Jan – Jun 2022
10 year average
Residential Market Summary, January – June 2022 Sales Summary
House
Unit
Vacant Land
Median Price
$133,500
$112,500
$19,250
10-Year Average
$120,000
$87,500
$15,500
Variation from Avg.
11%
29%
24%
Number of Transactions
52
4
5
Price Growth
House
Unit
Vacant Land
1 Year (Jun 2021-2022)
21%
-4%
131%
3 Year (Jun 2019-2022)
71%
-
114%
5 Year (Jun 2017-2022)
91%
25%
-4%
10 Year (Jun 2012-2022)
-25%
15%
-4%
Median Price by Bedroom
1 Bed
2 Bed
3 Bed
4 Bed
Overall
House
$69,000
$85,000
$133,500
$219,000
$133,500
Unit
-
$112,500
-
-
$112,500
Source: Settled Sales sourced from Landgate
26
H1 2022
H2 2021
H1 2021
H2 2020
H1 2020
H2 2019
H1 2019
H2 2018
H1 2018
H2 2017
H1 2017
H1 2015
H2 2014
H1 2014
H2 2013
H1 2013
H2 2012
66
GRAPH TBC H1 2012
-30.0%
H2 2016
Average Discount On Listing Price Jan – Jun 2022
-15.0%
H1 2016
- 8%
-10.0%
H2 2015
Median Price
Property Transactions Jan – Jun 2022
Rental Overview SHIRE OF COOLGARDIE
Rental Market Trends, 2017 - 2022
Rental Statistics
46
$350
50 45 40 35 30 25 20 15 10 5 0
$300
Median Price
Dwellings Leased Jan – Jun 2022
$316
Median Weekly Rent Jan – Jun 2022
$250 $200 $150 $100 $50
+$102 (+48%)
GRAPH TBC
$0
Increase in Median Weekly Rent H1 2021 – H1 2022
Dwellings Leased
Median Weekly Rent
Median days to lease 140
41
120
Median Days to Lease Jan – Jun 2022
100
Days
3%
Vacancy Rate, Jun 2022
80 60 40
24
20 0
Dwellings Listed For Rent Week of 25 Jun 2022
Rental Market Summary, H1 2022 Median Rent by Bedroom
1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom
5+ Bedroom
Overall
House
-
$283
$311
$395
-
$333
Unit
-
$213
-
-
-
$214
Weighted average of March and June 2022 quarters Source: Online Property Listings sourced from Domain, Vacancy Rates sourced from SQM Research
27
Number of Transactions
Dwellings Leased and Rents
Shire of Dundas SPOTLIGHT
Residential Market
Population and Demographics
The Shire of Dundas’ main population centre is the town of Norseman, a historic community which developed around the Norseman Gold Mine. Housing stock in the town is predominantly detached houses, many of which are ageing.
The Shire of Dundas is home to an estimated 715 people. Between 2011 and 2021, the resident population of Dundas is estimated to have declined by 41 percent, based on ABS data. Over the last five years, the population has stabilised. It should be noted that such resident population figures often do not accurately reflect the high transient worker population.
Median house prices in the Shire of Dundas increased by 5 percent over the year between H1 2021 and H1 2022. Due to its small market and reliance on cyclical mining activity, median prices in the Shire of Dundas are subject to significant fluctuations in a given year or half year period. However, between 2017 and 2022, median house price values in the Shire rose by 46 percent.
+5%
$600/m
1.8
$827/wk
Median House Price Change (YOY)
Average Household Size Photo: ourgems.com.au
Median monthly mortgage repayments in the Shire of Dundas were 67 percent lower than that of the Western Australian median. As of the 2021 Census, Dundas was home to 127 families.
Median Mortgage Repayment
Median Household Income 28
Residential Sales Overview SHIRE OF DUNDAS
Key Statistics
Residential Market Trends, 2012 - 2022 $70,000
5%
$50,000 $40,000 $30,000 $20,000 $10,000 $0 H1 2012 H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017 H2 2017 H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022
Median House Price Jan – Jun 2022
$60,000
Median Price
$57,500
16 14 12 10 8 6 4 2 0
Number of Transactions
House Prices
1 Year Median House Price Growth rate H1 2021 – H1 2022
Number of Transactions
GRAPH TBC
Median Price
No unit transactions were recorded from January to June of 2022. Overall, there are few dwellings in Dundas that would be considered to be units which impacts on unit transaction levels.
Vacant Land Prices $12,000
3
$6,000
2
$4,000 $2,000
1
$0
0 H1 2012 H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017 H2 2017 H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022
Median Vacant Land Price Jan – Jun 2022
$8,000
4
GRAPH TBC
Number of Transactions
Source: Settled Sales sourced from Landgate
Median Price
29
Number of Transactions
$10,000
Median Price
$10,000
5
Residential Sales Overview SHIRE OF DUNDAS
Discount on Original Price, 2012 - 2022
Key Statistics
Vendor Discounting 0.0%
Property Transactions Jan – Jun 2022
- 8%
-10.0% -20.0% -30.0% -40.0% -50.0% -60.0%
Average Discount On Listing Price Jan – Jun 2022
H1 2012 H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017 H2 2017 H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022
Median Price
16
GRAPH TBC
92
Average Discount on Original Listing Price
10 year average
Average Days to Sell Jan – Jun 2022
Residential Market Summary, January – June 2022 Sales Summary
House
Unit
Vacant Land
Median Price
$57,500
-
$10,000
10-Year Average
$39,725
$121,000
$10,000
Variation from Avg.
45%
-
0%
Number of Transactions
12
-
4
Price Growth
House
Unit
Vacant Land
1 Year (Dec 2020-2021)
5%
-
-
3 Year (Dec 2018-2021)
-4%
-
-
5 Year (Dec 2016-2021)
46%
-
54%
10 Year (Dec 2011-2021)
64%
-
0%
Median Price by Bedroom
1 Bed
2 Bed
3 Bed
4 Bed
Overall
House
$25,000
$67,400
$60,000
-
$57,500
Unit
-
-
-
-
-
Source: Settled Sales sourced from Landgate
30
Rental Overview SHIRE OF DUNDAS
Rental Commentary
Rental Market Trends, 2017 - 2022
The Shire of Dundas does not feature an active formal rental market to the same extent as larger regional localities. The majority of dwellings leased in the Shire of Dundas occurs outside of the formal market, such as through private agreements and friends and family rather than through agents. As a result, there is limited data that can be sourced for the area.
Dwellings Leased and Rents
Corporate housing also makes up a portion of housing in Norseman, servicing nearby resource projects such as the Norseman Gold Project.
$300
4
$250
3
$200 $150
2
$100
1
$50 $0
0
GRAPH TBC Dwellings Leased
Median Weekly Rent
Median days to lease 100 90 80
Days
70 60 50 40 30 20 10 0
Tenure & Landlord Type, 2021 Tenure & Landlord Type
Number of Dwellings
Owned Outright or with a Mortgage
142
Rented from a community group or from state housing authority Rented Privately Rented - Real Estate Agent Rented - Other landlord type Other tenure type Tenure type not stated
10 39 6 18 21 28
Source: Online Property Listings sourced from Domain, Vacancy Rates from SQM Research, Tenure & Landlord Type from ABS.
31
Northern Goldfields & Ngaanyatjarra Lands
Residential Market Characteristics The Northern Goldfields and Ngaanyatjarra Lands areas (the Menzies, Laverton, Leonora, Wiluna and Ngaanyatjarruku Local Government Areas) comprise a large geographical area of the GoldfieldsEsperance region. These areas are also responsible for significant economic activity in the region, with a number of mines operating and planned in Leonora, Laverton, Menzies and Wiluna. In addition to established towns, this area features a number of smaller mining camps and Aboriginal settlements, such as Leinster in Leonora and the Tjuntjuntjara Community in Menzies. All local government areas feature relatively low population counts and have comparatively small property markets, particularly formal rental markets. Given the high level of mining activity in the area, there is also a substantial non-resident workforce in the region that creates a demand for private rentals, though a large volume of accommodation for these workers is catered for at corporate mining accommodation camps.
However, this dropped to an estimated 1,491 in 2016 before increasing to 1,717 in 2021. The Shire of Wiluna experienced a significant fall in its estimated resident population in the decade to 2021. Ngaanyatjarraku also experienced a decline, albeit slight. In contrast, the Menzies and Laverton Shires experienced moderate resident population growth during this period. During the first half of 2022, the Northern Goldfields experienced an increase in median house prices compared to the same period in 2021. The median house price increased by 9 percent over this 12month period. In the three years to H1 2022, median house price growth in the Northern Goldfields was 68 percent. Vacant land values increased by 43 percent over the same period.
These localities face a number of challenges due to the remote nature of townsites, with service provision and adequate staffing issues being experienced. Sufficient service provision is compounded by issues around the availability and quality of Government Population growth in this region fluctuates and growth Regional Officer Housing and social housing in the is typically dictated by mining employment. For area, with stakeholders citing these as barriers to instance, the Shire of Leonora’s resident population attracting and retaining residents and workers. was estimated to be 2,628 in 2011. Photo: Lauren Darge, ourgems.com.au
32
Residential Sales Overview
NORTHERN GOLDFIELDS & NGAANYATJARRA LANDS
Residential Market Trends, 2012 - 2022
Key Statistics
Median House Price Jan – Jun 2022
9%
1 Year Median House Price Growth rate H1 2021 – H1 2022
$140,000
16
$120,000
14
$100,000
12 10
$80,000
8
$60,000
6
$40,000
4
$20,000
2
$0
0
Number of Transactions
$92,500
Median Price
House Prices
GRAPH TBC Number of Transactions
Median Price
No unit transactions were recorded from January to June of 2021.
6
$30,000
GRAPH TBC
Number of Transactions Source: Settled Sales sourced from Landgate
H1 2022
H2 2021
H1 2021
H2 2020
H1 2020
H2 2019
H1 2019
H2 2018
H1 2018
H2 2017
H1 2017
0 H2 2016
$0 H1 2016
1 H2 2015
$5,000 H1 2015
2
H2 2014
$10,000
H1 2014
3
H2 2013
1 Year Median Vacant Land Price Growth Rate
$15,000
H1 2013
-57%
4
H2 2012
Median Vacant Land Price Jan – Jun 2022
5
$20,000
H1 2012
$10,000
Median Price
$25,000
Median Price
33
Number of Transactions
Vacant Land Prices
Residential Sales Overview
NORTHERN GOLDFIELDS & NGAANYATJARRA LANDS
Key Statistics
Discount on Original Price, 2012 - 2022 Vendor Discounting
6
0.0%
-30.0% -40.0% -50.0% -60.0%
Average Discount on Original Listing Price
10 year average
Residential Market Summary, January – June 2022 Sales Summary
House
Unit
Vacant Land
Median Price
$92,500
-
$10,000
10-Year Average
$60,000
$35,000
$10,000
Variation from Avg.
54%
-
0%
5
-
1
House
Unit
Vacant Land
1 Year (Jun 2021-2022)
9%
-
-57%
3 Year (June 2019-2022)
68%
-
43%
5 Year (June 2017-2022) 10 Year (June 20122022)
23%
-
43%
2%
-
-
Number of Transactions
Price Growth
Median Price by Bedroom
1 Bed
2 Bed
3 Bed
4 Bed
Overall
House
-
$101,250
$85,000
$80,000
$92,500
Unit
-
-
-
-
-
Source: Settled Sales sourced from Landgate
34
H1 2022
H2 2021
H1 2021
H2 2020
H1 2020
H2 2019
H1 2019
H2 2018
H1 2018
H2 2017
H1 2017
H2 2016
H1 2016
H2 2015
H1 2015
H2 2014
H1 2014
Average Days to Sell Jan – Jun 2022
H2 2013
80
H1 2013
GRAPH TBC
-70.0%
H2 2012
Average Discount On Listing Price Jan – Jun 2022
-20.0%
H1 2012
- 4%
-10.0% Median Price
Property Transactions Jan – Jun 2022
Rental Overview
NORTHERN GOLDFIELDS & NGAANYATJARRA LANDS
Rental Commentary The rental market in the Northern Goldfields and Ngaanyatjarra Lands region features a high volume of social housing stock and there are few dwellings rented through real estate agents. As a result, rental market activity is very limited. Data collation in these localities is difficult with the high volume of non-responses to the ABS Census and the transient nature of both the workforce and portions of the population. This provides less formal data to help build a full understanding of local housing issues.
GRAPH TBC
Dwellings by Landlord Type, 2021
Local Government Area
Housing coState housing operative, authority community group
Person not in Rented from Real Estate same household Agent
Other
Not stated
Laverton (S)
28
50
11
3
16
3
Leonora (S)
23
8
22
0
87
0
Wiluna (S)
14
14
5
0
11
0
Ngaanyatjarraku (S)
222
27
0
0
20
6
Menzies (S)
0
20
0
0
9
0
Source: 2016 Census - Counted in Region – Dwellings, ABS
35
Kalgoorlie-Boulder SUBURB SPOTLIGHTS
Suburb Spotlight Overview
Suburbs Included
The City of Kalgoorlie-Boulder features the most varied composition of housing stock in the region. It is the only local government area in the region with a highly active unit and land market.
Data are only available for suburbs that have sufficient market activity to generate charts and statistics for the January to June period of 2022 (H1 2022).
The following pages provide an overview on the residential property markets in the suburbs within the City of Kalgoorlie-Boulder. These profiles identify the changes in median sales prices and transactions, changes in the rental market activity and key characteristics about average selling days.
These relevant suburbs are listed below: Kalgoorlie Boulder Broadwood Hannans Karlkurla Lamington Piccadilly Somerville South Boulder South Kalgoorlie Victory Heights West Lamington
36
Kalgoorlie
SUBURB OVERVIEW
Key Statistics
Residential Market Trends, 2012 - 2022
(% change H1 2021 – H1 2022)
Median House Price Jan – Jun 2022
70
$400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0
60 50 40 30 20 10 0
Number of Transactions
$284,500 (+3%)
Median Price
House Prices
GRAPH TBC Median Price
Number of Transactions
$439 (+20%)
Source: Settled Sales sourced from Landgate, Online Property Listings from Domain, Vacancy Rates from SQM Research
15 10 5 0
Number of Transactions
20
Median Price
Median Price
Dwellings Leased and Rents $500 $450 $400 $350 $300 $250 $200 $150 $100 $50 $0
GRAPH TBC
120 100 80 60 40 20 0
Dwellings Leased
Median Weekly Rent
37
Number of Transactions
Average Days to Sell Jan – Jun 2022
25
Number of Transactions
Median Weekly Rent Jan – Jun 2022
72
30
$400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0
Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022
Median Unit Price Jan – Jun 2022
Unit Prices Median Price
$250,000 (+26%)
Boulder
SUBURB OVERVIEW
Residential Market Trends, 2012 - 2022
Key Statistics
(% change H1 2021 – H1 2022)
$350,000
80
$300,000
70 60
$250,000
50
$200,000
40
$150,000
30
$100,000
20
$50,000
Median House Price Jan – Jun 2022
10
Number of Transactions
Median Price
$293,000 (+17%)
House Prices
0
$0
Number of Transactions
GRAPH TBC Median Price
$124,850 (-2%)
$350,000
12
$300,000
10
$250,000
Source: Settled Sales sourced from Landgate, Online Property Listings from Domain, Vacancy Rates from SQM Research
4
$100,000 $50,000
2
$0
0
Number of Transactions
Median Weekly Rent Jan – Jun 2022
Median Price
Median Price
Dwellings Leased and Rents $500 $450 $400 $350 $300 $250 $200 $150 $100 $50 $0
GRAPH TBC
Dwellings Leased
80 70 60 50 40 30 20 10 0
Median Weekly Rent
38
Number of Transactions
Average Days to Sell Jan – Jun 2022
6
$150,000
$404 (+28%)
53
8
$200,000
Number of Transactions
Median Price
Median Unit Price Jan – Jun 2022
Unit Prices
Broadwood SUBURB OVERVIEW
Key Statistics
Residential Market Trends, 2012 - 2022
(% change H1 2021 – H1 2022)
16 14 12 10 8 6 4 2 0
GRAPH TBC
Number of Transactions
$580
Median Price
Average Days to Sell Jan – Jun 2022
Median Price
Dwellings Leased and Rents
Median Weekly Rent Jan – Jun 2022
6
Number of Transactions
Median House Price Jan – Jun 2022
$900,000 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $0
$1,000
4.5
$900
4
$800
3.5
$700
3
$600
2.5
$500
2
$400
1.5
$300 $200
1
$100
0.5
$0
0
GRAPH TBC
Dwellings Leased
Median Weekly Rent
No unit transactions were recorded over the past decade in Broadwood. As a result, no trends have been presented.
Source: Settled Sales sourced from Landgate, Online Property Listings from Domain, Vacancy Rates from SQM Research
39
Number of Transactions
$500,000 (-20%)
Median Price
House Prices
Hannans
SUBURB OVERVIEW
Key Statistics
Residential Market Trends, 2012 - 2022
(% change H1 2021 – H1 2022)
Median Weekly Rent Jan – Jun 2022
Average Days to Sell Jan – Jun 2022
Median Price
Dwellings Leased and Rents
Median Price
36
GRAPH TBC Number of Transactions
$584 (+27%)
50 45 40 35 30 25 20 15 10 5 0
Number of Transactions
Median House Price Jan – Jun 2022
$500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0
$700
30
$600
25
$500
20
$400
15
$300
10
$200 $100
5
$0
0
GRAPH TBC Dwellings Leased
Median Weekly Rent
No unit transactions were recorded over H1 2022. As a result, no trends have been presented. Source: Settled Sales sourced from Landgate, Online Property Listings from Domain, Vacancy Rates from SQM Research
40
Number of Transactions
$385,000 (+6%)
Median Price
House Prices
Karlkurla
SUBURB OVERVIEW
Key Statistics
Residential Market Trends, 2012 - 2022
(% change H1 2021 – H1 2022)
5
$700,000
Median House Price Jan – Jun 2022
Median Price
$618,500 (+2%)
$600,000
4
$500,000 $400,000
3
$300,000
2
$200,000
1
$100,000
0
$0
Number of Transactions
House Prices
GRAPH TBC Number of Transactions
$725 (+21%)
Dwellings Leased and Rents $800 $700
Median Price
Average Days to Sell Jan – Jun 2022
6 5
$600
4
$500 $400
3
$300
2
$200
1
$100 $0
Number of Transactions
Median Weekly Rent Jan – Jun 2022
29
Median Price
0
GRAPH TBC Dwellings Leased Median Weekly Rent
No unit transactions were recorded over H1 2022. As a result, no trends have been presented. Source: Settled Sales sourced from Landgate, Online Property Listings from Domain, Vacancy Rates from SQM Research
41
Lamington
SUBURB OVERVIEW
Key Statistics
Residential Market Trends, 2012 - 2022
(% change H1 2021 – H1 2022)
Median House Price Jan – Jun 2022
45 40 35 30 25 20 15 10 5 0
$450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0
Number of Transactions
$392,000 (+7%)
Median Price
House Prices
GRAPH TBC Number of Transactions
$500 (+13%)
Median Price
Average Days to Sell Jan – Jun 2022
$600
30
$500
25
$400
20
$300
15
$200
10
$100
5
$0
0
GRAPH TBC
Dwellings Leased
Median Weekly Rent
No unit transactions were recorded over H1 2022. As a result, no trends have been presented. Source: Settled Sales sourced from Landgate, Online Property Listings from Domain, Vacancy Rates from SQM Research
42
Number of Transactions
Dwellings Leased and Rents
Median Weekly Rent Jan – Jun 2022
52
Median Price
Piccadilly
SUBURB OVERVIEW
Residential Market Trends, 2012 - 2022
Key Statistics
(% change H1 2021 – H1 2022)
Median House Price Jan – Jun 2022
50 45 40 35 30 25 20 15 10 5 0
$450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0
Number of Transactions
GRAPH TBC
$473 (+36%)
Source: Settled Sales sourced from Landgate, Online Property Listings from Domain, Vacancy Rates from SQM Research
6 4 2 0
Number of Transactions
8
Median Price
Dwellings Leased and Rents $600
Median Price
$500
Average Days to Sell Jan – Jun 2022
10
Number of Transactions
Median Weekly Rent Jan – Jun 2022
55
12
$400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0
GRAPH TBC
$400 $300 $200 $100 $0
Dwellings Leased
50 45 40 35 30 25 20 15 10 5 0
Median Weekly Rent
43
Number of Transactions
Median Unit Price Jan – Jun 2022
Median Price
Unit Prices Median Price
$255,000 (+71%)
Number of Transactions
Median Price
$367,500 (+12%)
House Prices
Somerville
SUBURB OVERVIEW
Key Statistics
Residential Market Trends, 2012 - 2022
(% change H1 2021 – H1 2022)
Median House Price Jan – Jun 2022
$600,000
70
$500,000
60 50
$400,000
40
$300,000
30
$200,000
20
$100,000
10
$0
0
Number of Transactions
$481,000 (+17%)
Median Price
House Prices
Number of Transactions
GRAPH TBC Median Price 40
$300,000
35
$250,000
30
10
$50,000
5
$0
0
Median Price
Dwellings Leased and Rents $600
Median Price
$500
Source: Settled Sales sourced from Landgate, Online Property Listings from Domain, Vacancy Rates from SQM Research
15
$100,000
Number of Transactions
Median Weekly Rent Jan – Jun 2022
Average Days to Sell Jan – Jun 2022
20
$150,000
$533 (+22%)
47
25
$200,000
Number of Transactions
$350,000
GRAPH TBC
60 50
$400
40
$300
30
$200
20
$100
10
$0
0
Dwellings Leased
Number of Transactions
Median Unit Price Jan – Jun 2022
Median Price
$273,500 (+25%)
Unit Prices
Median Weekly Rent
44
South Boulder SUBURB OVERVIEW
Key Statistics
Residential Market Trends, 2012 - 2022
(% change H1 2021 – H1 2022)
House Prices 20
$250,000 $200,000
15
$150,000
10
$100,000 $50,000 $0
$521 (+40%)
5
GRAPH TBC
Number of Transactions
Number of Transactions
Median House Price Jan – Jun 2022
25
$300,000
Median Price
$225,000 (+2%)
$350,000
0
Median Price
Median Weekly Rent Jan – Jun 2022
Average Days to Sell Jan – Jun 2022
No unit transactions were recorded over the past decade in South Boulder. As a result, no trends have been presented.
$900
8
$800
7
$700
6
$600
5
$500 $400 $300
4
GRAPH TBC
3
$200
2
$100
1
$0
0
Dwellings Leased
Median Weekly Rent
Source: Settled Sales sourced from Landgate, Online Property Listings from Domain, Vacancy Rates from SQM Research
45
Number of Transactions
72
Median Price
Dwellings Leased and Rents
South Kalgoorlie SUBURB OVERVIEW
Residential Market Trends, 2012 - 2022
Key Statistics
(% change H1 2021 – H1 2022) $350,000
80
$300,000
70 60
$250,000
50
$200,000
40
$150,000
30
$100,000
20
$50,000
Median House Price Jan – Jun 2022
10 0
$0
Number of Transactions
Median Price
$300,000 (+23%)
House Prices
Number of Transactions GRAPH TBC Median Price
$205,000 (+78%)
7
$500,000
6
$400,000
5 4
$300,000
3
$200,000
2
$100,000
$432 (+13.6%)
Source: Settled Sales sourced from Landgate, Online Property Listings from Domain, Vacancy Rates from SQM Research
Median Price
Dwellings Leased and Rents $500 $450 $400 $350 $300 $250 $200 $150 $100 $50 $0
GRAPH TBC
60 50 40 30 20 10
Number of Transactions
Median Price
Average Days to Sell Jan – Jun 2022
0
Number of Transactions
Median Weekly Rent Jan – Jun 2022
63
1
$0
Number of Transactions
8
$600,000
Median Price
Median Unit Price Jan – Jun 2022
Unit Prices
0
Dwellings Leased
Median Weekly Rent
46
Victory Heights SUBURB OVERVIEW
Residential Market Trends, 2012 - 2022
Key Statistics
(% change H1 2021 – H1 2022)
Median House Price Jan – Jun 2022
$450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0
18 16 14 12 10 8 6 4 2 0
Number of Transactions
GRAPH TBC
2.5
$250,000
2
$200,000
1.5
$150,000
1
$100,000
0.5
$50,000 $0
$465 (+14%)
0
Number of Transactions
Median Weekly Rent Jan – Jun 2022
Median Price
Dwellings Leased and Rents $600
GRAPH TBC
Average Days to Sell Jan – Jun 2022 Source: Settled Sales sourced from Landgate, Online Property Listings from Domain, Vacancy Rates from SQM Research
Median Price
$500
102
Number of Transactions
$300,000
$400 $300 $200 $100 $0
Dwellings Leased
9 8 7 6 5 4 3 2 1 0
Number of Transactions
Median Unit Price Jan – Jun 2022
Median Price
Unit Prices
Median Price
$235,000 (+31%)
Number of Transactions
Median Price
$299,000 (-22%)
House Prices
Median Weekly Rent
47
West Lamington SUBURB OVERVIEW
Residential Market Trends, 2012 - 2022
(% change H1 2021 – H1 2022)
Median House Price Jan – Jun 2022
$450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0
30 25 20 15 10 5 0
Number of Transactions
GRAPH TBC
Median Price
$350,000
4.5 4 3.5 3 2.5 2 1.5 1 0.5 0
Median Price
$300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0
$550 (+23%)
Number of Transactions
Median Weekly Rent Jan – Jun 2022
Average Days to Sell Jan – Jun 2022 Source: Settled Sales sourced from Landgate, Online Property Listings from Domain, Vacancy Rates from SQM Research
Median Price
Dwellings Leased and Rents
Median Price
$700
43
Number of Transactions
Unit Prices
$230,000
Median Unit Price Jan – Jun 2022
Number of Transactions
Median Price
$369,000 (-2%)
House Prices
GRAPH TBC
14
$600
12
$500
10
$400
8
$300
6
$200
4
$100
2
$0
0
Dwellings Leased
Median Weekly Rent
48
Number of Transactions
Key Statistics
Data Sources Used to Inform Summary The table below lists the key data sources used to inform this report. Other data sources used in the commentary of this report have been referred to in the report text. Dwelling Sales Volumes and Prices
Data sourced from Landgate. Landgate is Western Australia's land information authority. Sales and price data is based on settled sales data as reported to Landgate.
Vendor Discounting, Average Days to Sell
Data sourced from Landgate.
Median Rents, Dwellings Leased, Median Days to Lease
Data sourced from Domain, based on dwelling listings recorded by Domain.
Dwellings Listed and Rental Vacancy Rate
Sourced from SQM Research, based on SQM Research’s monitoring of properties listed on major listing websites against the established dwelling volume as of the 2016 ABS census.
Building Approvals and State Lot Activity
Building Approvals sourced from the Australian Bureau of Statistics. Statistics on the value of building work approved are derived by aggregating the estimated 'value of building work when completed' as reported on building approval documents provided to local councils or other building approval authorities.. State Lot Activity sourced from the Western Australian Department of Planning, Lands and Heritage (DPLH).
Average Household Size, Income, Mortgage Repayments
Data sourced from the ABS Census for 2016.
Tenure and Landlord Type
Data sourced from the ABS Census for 2016.
49
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