Suburb Profile Report for Geraldton WA (6530)

Geraldton House: Median price $240,000, Annual capital growth -3.53%, Number of sales 36, Weekly median advertised rent $275

Geraldton Unit: Median price $424,000, Annual capital growth N/A, Number of sales 38, Weekly median advertised rent $205

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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  • House Report
  • Unit Report

At number 3067th in the list of Australian suburbs ordered by increase in median house value over the last year, Geraldton, 6530 is in the BOTTOM 30% with a property value increase of -7.69% recorded in median house prices.

Over the longer term, Geraldton has seen property prices show investors a -17.24% return over the last 3 years. This is an improvement over the last 12 months

Geraldton6530 is located in WA which offers an average discount of -8.58% to property investors. Geraldton itself is showing figures that indicate -13.62% is the average achievable by property buyers investing in the suburb.

At number 3211 in a list of fastest selling suburbs, Geraldton is in the bottom 20% of suburbs in Australia with an average of days on market 114.36 for properties listed there.

Using the current median advertised rental of $275 and the average annual increase in value of a median property of -3.53%, investors should hope to achieve an overall return of 5.96%

Our latest figures would indicate that property sellers in Geraldton are currently offering property investors an average price cut of -13.55% below the asking price at the moment.

In the last year 38 properties changed hands in Geraldton, which puts it as the 41th most active market in WA when comparing the number of sales per suburb.

Renters in Suburb are facing rents around $10660 per annum or $205 every week.

Information supplied by:




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Geraldton, Western Australia’s fourth-largest city, is Hotspotting.com founder Terry Ryder’s "number one tip" for growth in the region over the next few years.

The city is set for a wealth of infrastructure spending – not least the $4bn construction of Oakejee Port: an integrated deep water port, rail and industrial estate intended to support the development of the resources sector in the mid-west.

The port is projected to be operational by 2014. The Western Australian government estimates that the project will generate approximately 2,000 jobs during the construction and development phase, and around 400 jobs when completed – as well as underpinning the growth of the iron ore industry and unlocking the mineral resource wealth of the region.

It’s Geraldton’s otherwise "well-rounded and diverse" economy that Ryder also likes, too. Traditionally, the city has relied on farming, wheat and sheep and fishing, with Australia’s largest lobster fleet operating out of the city.

The foreshore has recently undergone a $26m redevelopment, and the CBD is being revitalised. Several major commercial projects are also underway, including a new $30m marina hotel, and the city is one of the areas named in the second release of National Broadband Network sites. Geraldton is also in the running to host the world’s largest radio telescope – a $1.3bn project which, if successful, would commence construction in 2012 and complete in 2020.

With the advent of Oakajee Port looking likely to make the area a hub for the mid-west’s growing mining industry, it’s a fair bet that this is a property market that will be on the up.

Metrics i HOUSE UNIT
$240,000 $424,000
-4.00% N/A
-7.69% N/A
-3.53% N/A
$275 $205
36 38
5.96% 2.51%
114.36 112.461538461538

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Below average (H), Below average (U)
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Demographics
Total population 3461
Median household income ($/weekly) 978
Median age of persons 38
Median housing loan repayment ($/monthly) 1356
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 464 13.4
    25-34 years 419 12.1
    35-44 years 390 11.3
    45-54 years 436 12.6
    55-64 years 379 10.9
    Others 1374 39.7
    Age Group
    Census Count Percent(%)
    Not Married 1088 49.3
    Registered Married 878 39.8
    Defacto Relationship 241 10.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 2586 80.3
    Papua New Guinea 109 3.4
    Philippines 73 2.3
    United Kingdom 153 4.8
    Other 75 2.3
    Others 223 6.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 35 1.1
    Christianity 2221 71.2
    Hinduism 21 0.7
    Islam 34 1.1
    No Religion 786 25.2
    Others 22 0.7
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 147 12.7
    $400-$599 150 12.9
    $800-$999 105 9.0
    $1,000-$1,249 107 9.2
    $1,500-$1,999 129 11.1
    Others 524 45.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1047 39.9
    Employed, worked full-time 920 35.1
    Employed, worked part-time 420 16.0
    Employed, away from work 124 4.7
    Unemployed, looking for work 113 4.3
    Person Characteristics
  • Census Count Percent(%)
    Professionals 269 18.4
    Technicians & trades workers 244 16.7
    Community & personal service workers 168 11.5
    Clerical & administrative workers 159 10.9
    Labourers 200 13.7
    Others 425 29.0
    Occupation
    Census Count Percent(%)
    Pre-school 42 5.6
    Infants/Primary 249 33.1
    Secondary 303 40.3
    Technical or Further Educational Institution 99 13.2
    University or other Tertiary Institutions 50 6.6
    Others 9 1.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2244 79.5
    Flat, unit or apartment 355 12.6
    Semi-detached, row or terrace house, townhouse 214 7.6
    House or flat attached to a shop, office 8 0.3
    Caravan, cabin, houseboat 3 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 601 47.4
    Fully owned 377 29.8
    Being purchased 286 22.6
    Other tenure type 3 0.2
    Tenure Type
Census 2011, ABS
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