New Domain research reveals Geraldton’s median has hit $550k, following eight consecutive quarters of growth

Geraldton’s median house price has jumped slightly to sit at $550,000 in the September quarter according to new property data, but it still ranks as among the most affordable regional WA locations. Domain’s September quarter data shows the three-month rise in Greater Geraldton has been 2.8 per cent or $15,000 from the June median of $535,000. This is the eighth consecutive quarter of price rises, marking Geraldton’s longest stretch of house price growth. The Domain report states that while houses in regional WA continue to grow in price, the annual growth rate is at its lowest level in almost two years. Greater Geraldton is ranked fifth in the WA regional local government areas for top price growth, with an annual increase of 22.2 per cent, from the $450,000 median in September 2024. Manjimup, Collie, Albany and Northam recorded higher annual rises. Over five years, Greater Geraldton’s median has soared from $320,000 to $550,000, up 71.9 per cent. In the list of regional LGAs with the lowest median house prices, Greater Geraldton is seventh, with Coolgardie, Kalgoorlie-Boulder, Collie, Northam, Manjimup and Port Hedland all recording cheaper medians. Domain economist Nicola Powell recently said price growth was slowing in Geraldton and buyers might be hitting an affordability peak, but she was confident the local market would keep climbing, albeit not to the same extreme levels. The latest Domain research reveals Perth is on the cusp of smashing through the $1 million median threshold, a milestone likely to be reached before Christmas. The Perth market has recorded its 12th successive quarterly increase, with the median price now sitting at $981,259, up 1.6 per cent in the September quarter.