Domain’s December quarter data shows Greater Geraldton’s median has soared by 20.4 per cent to $590,000

While Perth’s median house price has joined the $1 million club, property values in Geraldton continue to soar to new highs, with fresh data showing a 20 per cent jump in the past year. According to Domain’s December quarter house price report, Greater Geraldton’s median house price has climbed by $100,000 to $590,000 over the past year. That is a rise of 20.4 per cent from the mark of $490,000 set in December 2024. Compared to five years ago when Geraldton’s median house price was $330,000, values have skyrocketed 78.8 per cent. Despite the significant growth, Greater Geraldton remains the fifth most affordable local government area in Domain’s research, with lower medians only in Coolgardie ($215,000), Kalgoorlie-Boulder ($425,000), Collie ($499,500) and Northam ($531,500). Geraldton has also recorded the fifth highest annual growth, behind Collie (up 29.7 per cent), Northam (up 23.6 per cent), Coolgardie (up 22.9 per cent) and Albany (up 21 per cent). In regional WA, house prices increased by an average of 10.5 per cent, or $65,000, in the December quarter to a record median of $685,000. This marks the 14th consecutive quarter of growth and the longest run of quarterly gains since 2003-07. Perth prices surged 9.9 per cent to set a new record median of $1.09m, exceeding the $1m mark for the first time. Domain chief of research and economics Dr Nicola Powell said: “The housing market is clearly in an upswing, but the pace of growth is no longer one-speed. “While prices are still pushing higher and new milestones are being reached, affordability pressures are increasingly dictating where buyers can compete and which markets are moving fastest.” In the rental market, December quarter data shows an 8.7 per cent rise over the past year, or 78.6 per cent over five years, to a median of $500 a week for houses. In relation to to units, the median in Geraldton is $400 a week, which is a 37.9 per cent jump annually and up 110.5 per cent over five years.