Hold onto your wallets, homebuyers—the housing market in Geraldton is sending a chilling message. While Perth’s median house price has officially cracked the $1 million mark, Geraldton’s property values are skyrocketing at an even more alarming pace. Fresh data reveals a staggering 20% jump in the past year alone, leaving many to wonder if homeownership is slipping further out of reach. But here’s where it gets controversial: despite this explosive growth, Geraldton remains one of Western Australia’s most affordable regions—for now. According to Domain’s latest report, the median house price in Greater Geraldton has surged by $100,000 to $590,000 in just one year, a 20.4% increase from December 2024. To put that in perspective, five years ago, the median price was a mere $330,000—a jaw-dropping 78.8% leap since then. Yet, Geraldton still ranks as the fifth most affordable local government area, with only Coolgardie, Kalgoorlie-Boulder, Collie, and Northam offering lower medians. But don’t let that fool you—Geraldton’s growth rate is the fifth highest in the state, trailing only behind Collie, Northam, Coolgardie, and Albany. And this is the part most people miss: while regional WA saw an average 10.5% increase in house prices in the December quarter, reaching a record median of $685,000, Perth’s market is in a league of its own, with prices soaring 9.9% to a historic $1.09 million. Domain’s chief of research, Dr. Nicola Powell, warns, ‘The housing market is clearly in an upswing, but affordability pressures are increasingly dictating where buyers can compete.’ The rental market isn’t offering much relief either. In Geraldton, median rents for houses have climbed 8.7% in the past year to $500 per week, while units have jumped a staggering 37.9% annually to $400 per week. Over five years, these figures have skyrocketed by 78.6% and 110.5%, respectively. So, what does this mean for you? Is Geraldton’s affordability a fleeting opportunity, or is this just the beginning of a broader housing crisis? Share your thoughts below—we want to hear from you!
