Geraldton ranked No.1 on Westpac’s national boom list for volume of home loans processed over past year

Geraldton has topped a national list for home lending boom areas based on new data from one of the big four banks, underscoring the increasing appetite for regional living. The lending data from Westpac reveals Geraldton’s postcode of 6530 is its No. 1 growth area, ahead of NSW’s Lake Macquarie and Victoria’s Glen Eira, as well as North Sydney, and Leederville. Almost half of Westpac’s top 30 booming postcodes are in regional Australia. The figures highlight the bank’s volume of loans processed between May 2024 and May 2025. “Australians recognise the value and lifestyle benefits of regional living,” Westpac managing director of mortgages James Hutton said. “Whether it’s the coast, the hinterland, or vibrant regional centres, these areas are experiencing strong growth as buyers seek space, affordability, and a sense of community. These aren’t just homes — they are lifestyle decisions.” Mr Hutton said the bank was seeing a diverse mix of growth across the country. “In Western Australia, growth is split between high-value suburbs like Leederville and emerging regional areas such as the Mid West, the latter buoyed by the performance of Australia’s iron ore and gold industries,” he said. “It’s a clear sign that Australians are exploring a broad range of options when it comes to home ownership.” Westpac economist Matthew Hassan said regional Australia continued to outperform its metropolitan counterpart, with prices jumping 5.9 per cent over the past year in the regions compared with 3 per cent across capital cities. “More strikingly, since 2019, regional property values have surged 65 per cent — outpacing capitals by nearly 25 per cent — highlighting a trend that has proven more enduring than initially expected,” he said. WESTPAC’S TOP 20 BOOM AREAS 1 WA Mid West, 6530 2 NSW Lake Macquarie — East, 2280 3 VIC Glen Eira, 3161 4 NSW North Sydney, 2060 5 WA Leederville, 6007 6 VIC Boroondara, 3123 7 QLD Jimboomba, 4280 8 VIC Yarra, 3065 9 QLD Bundaberg, 4670 10 NSW Tweed Valley, 2486 11 WA Wanneroo, 6034/6035 12 VIC Boroondara, 3147 13 QLD Townsville, 4814/4817 14 VIC Wangaratta — Benalla, 3677 15 QLD Burleigh, 4220 16 SA Port Adelaide — West, 5015 17 QLD Caboolture, 4506 18 SA Holdfast Bay, 5044 19 QLD Ipswich — West, 4306 20 NSW Port Stephens, 2324