Positive trends for Karratha property market

Property vacancy rates in the City of Karratha have continued their downward trend, with a September figure of 3.5 per cent.

The 1.5 per cent drop in vacancies between August and September brings the total rate to almost half the 6.2 per cent rate at the beginning of the year.

House sale rates and prices remained largely steady with a large increase in sales activity between July and August.

City of Karratha Mayor Peter Long said the more affordable housing market was attracting more permanent residents to town and creating opportunities for long term locals to enter the market.

“I’ve been talking to real estate agents around town and the number of sales in town has picked up significantly in the past few months,” Cr Long said.

“The more affordable options in the market are clearly having a positive impact on the number of people willing to buy as owner occupiers as well as people on the private rental market,” he said.

“The lower vacancy rate shows the even though we have faced some challenging economic circumstances this year, conditions are improving and more people are coming to live in our City.”

Vacancy Rate 2016
January - 6.2%
February - 5.8%
March - 5.6%
April - 5.6%
May - 5.5%
June - 5.3%
July - 5.1%
August - 4.9%
September - 3.5%