Karratha Market Update 2 nd H a l f 2 0 2 5
OVERVIEW
In Q2 2025, Karratha* recorded a median house price of $655,000 and a median unit price of $495,000. This is an annual (Q2 2024 – Q2 2025) median price growth of 12.9% for houses and 4.2% for units. Comparing Q2 2024 and Q2 2025, total sales declined by -57.4% (to 46 sales in Q2 2025) for houses and -34.0% (to only 4 sales in Q2 2025) for units. This confirms an undersupplied house and unit market, which created a buffer against higher interest rates (hence price growth). This suggests that now is an ideal time for owners to capitalise on their investments in the housing market. For buyers, median unit price growth is significantly lower than median house price growth, which creates an opportunity. That said, with very few new stock planned, buyers must act fast.
CHANGE FROM LAST
YEAR
FUTURE DEVELOPMENTS
Karratha£ plans to see approx. $282.1M of new projects commence in 2025. Residential
Commercial
$9.3M
$7.8M
HALF YEAR
HOUSE SALE S
Infrastructure $265.1M
HOUSE ME DIAN PRICE HOUSE RE NTAL PRICE
A key project planned for Karratha in 2025 is the Pilba Ports Authority (PPA) of Dampier Wharf extension ($200M) . This project will create diversification at the Port of Dampier by opening access to a world-wide market in a prime resource area of Australia. This will greatly boost the economy for not only the local area of Karratha but the greater Western Australia region. It will also create new jobs, which can stimulate demand for more housing.
UNIT SALE S UNIT ME DIAN PRICE UNIT RE NTAL PRICE
$ MARKET CONDITIONS MEDIAN PRICE Q2 2025
$655K
$495K
MEDIAN PRICE Q2 2025
$1,400
SALES
AVERAGE DAYS ON MARKET Q2 2025
35
50
HOUSE
U N I T
RENTALS
$650
AVERAGE DAYS ON MARKET Q2 2025
19
16
HOUSE
U N I T
The only residential project planned to commence in 2025 is the Jadura Crescent Apartments & Grouped Dwellings which will add 17 dwellings and 20 apartments to the area. Residential projects set to commence in 2025 does provide some ready-tosell houses and units. However, this is not enough, considering number of house sales (46) in Q2 2025. Thus, the current undersupply will remain. This will push up property prices further, for all types (units and others also).
20 Units/ Apartments
17 Dwellings