Western Australia’s regional property market is booming, with coastal and inland towns experiencing significant price hikes as city dwellers seek more affordable and spacious living options. The popular areas of Albany, Bunbury, and Margaret River have recorded price increases exceeding 12% year-on-year, driven by a blend of remote workers, lifestyle seekers, and retirees.
With remote work more feasible than ever, city dwellers are attracted to the tranquility and affordability of regional towns. Real estate agents report properties selling almost as soon as they’re listed, with some buyers even competing over sight-unseen properties. However, this trend has brought concerns about gentrification and affordability for long-time local residents, many of whom find it difficult to keep up with rising prices.
Local governments are grappling with how to balance economic growth with affordability. New zoning and building permits are being fast-tracked to address the demand, but some community members worry that rapid growth could impact the character and environment of these towns. Infrastructure such as schools, hospitals, and public transport will also need expansion to support the increased population.
In towns like Busselton, new housing developments are being planned, but completion timelines are uncertain due to construction delays. Labor shortages, combined with the high cost of building materials, are pushing timelines back and driving up development costs. These challenges make it harder for regional areas to keep pace with the surge in demand.
Experts suggest that regional property prices will likely stay elevated as long as the urban migration trend continues. While this is beneficial for property investors and local economies, it poses challenges for residents trying to buy or rent. For now, the WA regional property boom shows no sign of slowing, and authorities are working to create strategies that address both growth and housing affordability.