Broome Market Update 2 nd H a l f 2 0 2 5
OVERVIEW
In Q2 2025, Broome* recorded a median house price of $780,000, and a median unit price of $405,000. This represents an annual (Q2 2024 – Q2 2025) price growth of 10.7% for houses and 12.5% for units. During this time, sales declined, by -18.8% for houses (to 52 sales in Q2 2025) and by -46.7% for units (to 16 sales in Q2 2025). Price growth alongside less sales suggests an undersupply in the market, for both houses and units. This is an opportunity for owners, especially units, to capitalise on their investments. For buyers, with almost no new stand-alone houses in the 2025 pipeline, now is an ideal time to act; before further price growth.
CHANGE FROM LAST
YEAR
HALF YEAR
Residential $300.0K Mixed-Use Projects
HOUSE ME DIAN PRICE
Infrastructure
HOUSE RE NTAL PRICE
$17.3M
UNIT SALE S
The 154 Frederick Street Health & Wellness & Childcare Centre ($6.1M) mixed use development is set to commence construction in early 2025. This will provide more amenities to residents and create new local jobs.
UNIT ME DIAN PRICE UNIT RE NTAL PRICE
Several key infrastructure projects planned in 2025, including Frederick Street Broome Recreation and Aquatic Centre Roundabout, Kimberley Districts Support Facility, and Department of Biodiversity Conservation & Attractions Broome transportable office.
$ MARKET CONDITIONS MEDIAN PRICE Q2 2025
SALES
$405K
MEDIAN PRICE Q2 2025
$1,200
Broome is set to see approximately $23.7M of new projects commencing construction in 2025.
$6.1M
HOUSE SALE S
$780K
FUTURE DEVELOPMENTS
AVERAGE DAYS ON MARKET Q2 2025
54
34
HOUSE
U N I T
RENTALS
$950
AVERAGE DAYS ON MARKET Q2 2025
20
19
HOUSE
U N I T
There is almost no residential projects commencing in 2025, which suggests a reliance on previous project builds and current available stock. With a market undersupply already in place, the absence of new stock to be constructed in 2025 suggests this will remain. The potential for higher house prices is very likely, having a multiplier effect on other property prices as buyers divert their attention (i.e units and others). Thus, now is an ideal time for buyers to enter the market, before it is even more expensive.
1 Dwelling