Regional WA Housing Market Soars Amid Affordability Concerns

The housing market in regional Western Australia is booming, with cities like Bunbury and Albany experiencing significant property price and rent increases.

Bunbury leads as the top-performing regional center, boasting a 5.9% rise in median house prices in the March 2024 quarter. Albany follows closely, while Broome sees a 9.5% hike in median weekly rent due to high demand from the Thunderbird mine site.

Despite the growth, housing affordability remains a pressing issue, with key workers struggling to keep up with rising costs. The shortage of rental properties and homes poses challenges for residents and businesses, leading to alternative living arrangements and staffing shortages in various sectors.