Geraldton house sales activity surges as Wandina and Mount Tarcoola shine at the top of the list
If houses continue to be snapped up at the current turbocharged rate, more Geraldton real estate will change hands this year than in 2019 and 2020 combined.
Less than six months into the year, 661 house sales have already been recorded in Geraldton up until May 24, excluding land and unit sales, according to Real Estate Institute of WA data.
This compares to 432 houses sold all of last year and 433 in 2019.
Sales activity is up across the board, but nowhere more so than the suburbs lining Brand Highway in Geraldton’s south.
From January to May, 93 houses were sold in Wandina, whereas only 43 properties were bought during the whole of 2020.
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It is a similar story in Mt Tarcoola, which has 68 new homeowners so far this year, up from a total of 43 in 2020.
Buyer enthusiasm has been matched by a modest price creep of 5.3 per cent in Wandina and a 10 per cent jump in Mt Tarcoola, rising from $360,000 to $380,000 and from $279,000 to $310,000 respectively.
Agents on the ground say there is plenty of stock to keep up with burgeoning demand, but that doesn’t mean prospective buyers need not act fast to secure their dream property.
On Friday, The Geraldton Guardian spoke to several people who braved the stormy weather to visit 20 Derna Parade in Wandina, a large family home going for $585,000. The clock is ticking for parents Claire and Jack Rogers, who recently sold their Spalding home hoping to find somewhere bigger for their growing family.
The young family will move into Grandma’s in the coming months if they can’t secure a home soon.
Given the persistent low rental vacancy, which currently sits at 1.3 per cent, Ms Rogers doesn’t believe she has any hope of finding an appropriate rental.
“I am a little bit nervous, but we haven’t lost out on any homes yet,” she said.
She said the family was open to all areas, but she liked the generously sized family homes in Wandina and Mt Tarcoola.
Another buyer, Jason Wilhelm, pictured with his four-month-old grandson Darby Mills, also visited the home open.
His children have moved out, and he is considering the Wandina area because it is close to his grandchildren.
“This is the first house we have looked at,” he said.
Before the recent activity boom, Geraldton Property Team agent David Potiuch used to host four home opens every Sunday. Now, he sells most listings through private appointments.
He said a well-priced house could sell in less than six weeks in the current climate, so prospective buyers should act quickly and come prepared.
“Banks are really slow,” Mr Potiuch said. “If you know you’re going to buy, get your finances rolling.”
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