GEDC Housing & Land Summary January-June 2022 (H1)

January – June 2022 (H1)

Housing and Land Summary GOLDFIELDS-ESPERANCE

Publication Goldfields-Esperance Residential Housing and Land Summary Reporting Period 1 Jan – 30 June 2022 Published September 2022

The information and data contained in this document were predominantly gathered from Landgate, and supplemented with data acquired from Domain and SQM Research. No person should act on the basis of any matter contained in this document without considering and, if necessary, taking appropriate professional advice. Neither the Commission, Urbis, or their employees undertake responsibility to any person or organisation in respect to this document.

Table of Contents Economic Overview

5

Residential Property Market Overview

6

Dwelling Construction Overview

10

Lot Activity Overview

11

Local Government Area Spotlights

12

- City of Kalgoorlie-Boulder

12

- Shire of Esperance

16

- Shire of Ravensthorpe

20

- Shire of Coolgardie

24

- Shire of Dundas

28

- Northern Goldfields and Ngaanyatjarra Lands

32

Kalgoorlie-Boulder Suburb Spotlights

36

RegionOverview Region Overview

The Goldfields-Esperance region of Western Australia covers an expansive 950,450 square kilometres - over a third of WA’s total land mass. The region’s main population centres are Kalgoorlie-Boulder and Esperance.

The Goldfields-Esperance Development Commission (GEDC) is a State Government agency that supports economic development across the region and State.

This residential housing and land summary is the fourth in a periodic series prepared to help inform stakeholders about residential property market data, trends and issues.

This summary edition covers the first half of 2022 and provides a profile for the ten local government areas in the region, as well as suburb profiles for the City of Kalgoorlie-Boulder.

Given the relatively low population levels and the minimal residential market activity in the Northern Goldfields and Ngaanyatjarra Lands local government authorities, a combined section details market data and trends for these areas.

4

Economic Overview

The Goldfields-Esperance region has played a significant role in the economic development of Western Australia since the discovery of gold in the late 1800s. It is now recognised as one of the world’s most significant mining regions, producing not only gold but a range of commodities including nickel and, increasingly, battery technology and critical minerals.

At present, the mining sector accounts for approximately 64 percent of total regional economic output, generating around $18.3 billion a year. The sector also supports around 11,200 jobs – over a third of all jobs in the region.1 Other important industries in the region are health care and social assistance, retail trade, education and training, construction and agriculture.

Goldfields-Esperance mineral sales increased by 2.3 percent in the year to June 2022.2 Gold production remains a mainstay of the local mining sector.

Regional gold production is set to increase, with a number of new, expansion and reactivation projects in development. There is also growing investor interest in the Goldfields-Esperance region’s reserves of battery and technology minerals of a quality suitable for lithium-ion battery manufacturing and other advanced applications. Global demand for lithium is forecast to grow strongly in the coming years. The region is also emerging as a globally important producer of rare earth elements.

increased by 10 percent to $10.3 billion between 2020 and 2021.3 The Esperance Port Zone, which covers the Esperance and Ravensthorpe LGAs, generates about one fifth of WA’s total cereal (wheat, barley, canola) production each season. Annual broadacre crop production is around 2.6 million tonnes.

Regional unemployment declined from 2.8 percent in December 2021 to 2.3 percent in March 2022. The major population centres recorded a further tightening of local labour markets, with a jobless rate in both Kalgoorlie-Boulder and Esperance of only 1.8 percent in March 2022.4 The level of job recruitment activity as measured by job advertisements - in the region continues to exceed pre-COVID-19 pandemic levels, up by between 75 and 100 percent.5

The region’s real gross domestic product (GSP) 1. REMPLAN. 2. Department of Jobs, Tourism, Science and Innovation. 3. REMPLAN. 4. National Skills Commission, ABS, REMPLAN. 5. Labour Market Information Portal.

$28.9 billion

Total economic output (2021)

2.3%

Unemployment rate (March 2022)

32,605

Jobs in the region 5

Residential Property Market Overview

The Goldfields-Esperance region is characterised by a mixture of housing and land markets. These include those in the larger urban areas such as KalgoorlieBoulder and Esperance, small established towns, rural properties, remote Aboriginal communities and worker accommodation camps attached to resource projects.

The provision of adequate and affordable housing – both to rent and to buy – continues to be a key issue for the region.

The region’s rental market remained exceptionally tight during the first half of 2022. As of June 2022, the regional rental vacancy rate was 0.47 percent. Median rents surged by 21 percent over the year to H1 2022, reaching $435 a week. Over a 5-year period, regional median weekly rents have increased by 45 percent. The limited supply of rental properties and fast rising rents continue to present challenges for current and prospective residents.

It is important to reiterate that many communities in the region do not have a formal rental market and rely on State Government provided social and government officers accommodation. The Goldfields Voluntary Regional Organisation of Councils (GVROC) has identified a need to expand the provision of such housing. Local governments report that the limited availability and quality of Government Regional Officer Demand for units continued to grow during H1 2022, with Housing (GROH) is an impediment to attracting key the region experiencing the highest number of unit sales public sector workers to fill positions in local in a decade (92 transactions). The number of unit sales communities. in H1 2022 was nearly four times higher than the same The region recorded 58 vacant residential land sales in period in 2019 (pre-pandemic).

H1 2022, indicating that land sales activity has stabilised Regional median house prices increased by 4 percent after a highpoint in 2020. However, vacant land over the year to June 2022, while the regional median transaction activity remains elevated compared to preunit price increased by 13 percent over the same period. pandemic levels.

During H1 2022, residential property on the market sold at the fastest rate in a decade. For all residential property In terms of regional residential land supply, the developers’ stock of proposed residential lots with classes, the average time to sell fell by 30 percent conditional approval stood at 432 at the end of June compared to the same period a year earlier, from 84 2022 – an 8 percent increase compared to the same days in H1 2021 to 59 days in H1 2022. period in 2021.

6

Across the region, house and unit sales activity remains elevated compared to pre-COVID-19 pandemic levels.

The total number of house transactions (sales) during the January-June 2022 (H1 2022) period was 566 – 91 percent higher than the same period in 2019. However, house sales volumes during H1 2022 were 10 percent lower than the year before (H1 2021).

Residential Sales Overview GOLDFIELDS-ESPERANCE

Key Statistics

Residential Market Trends 2012 - 2022

Median House Price Jan – Jun 2022

+4%

$400,000

800

$300,000

600

$200,000

400

$100,000

200

$0

1 Year Median House Price Growth Rate H1 2021 – H1 2022

0

Number of Transactions (6 months)

Number of Transactions

$326,020

Median Price

House Prices

Median Price

GRAPH TBC

Median Unit Price Jan – Jun 2022

+13%

$400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0

1 Year Median Unit Price Growth Rate H1 2021 – H1 2022

100 80 60 40 20 0

Number of Transactions (6 months)

Number of Transactions

$239,500

Median Price

Unit Prices

Median Price

+10%

1 Year Median Vacant Land Price Growth Rate H1 2021 – H2 2022 Source: Settled Sales sourced from Landgate

GRAPH TBC

100 80

$150,000

60

$100,000

40

$50,000

20 0

$0 H1 2012 H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017 H2 2017 H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022

Median Vacant Land Price Jan – Jun 2022

Median Price

$127,000

$200,000

Number of Transactions (6 months)

Median Price

7

Number of Transactions

Vacant Land Prices

Residential Sales Overview GOLDFIELDS-ESPERANCE

Discount on Original Price 2012 - 2022

Key Statistics

Vendor Discounting 0.0%

716

-2.0% Median Price

Property Transactions Jan – Jun 2022

- 5%

Average Discount On Listing Price Jan – Jun 2022

-4.0% -6.0% -8.0% -10.0% -12.0% -14.0%

59

Average Days to Sell Jan – Jun 2022

GRAPH TBC H1 2012 H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017 H2 2017 H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022

-16.0%

Average Discount on Original Listing Price

10 year average

Residential Market Summary, January – June 2022 Sales Summary

House

Unit

Vacant Land

Median Price

$326,020

$239,500

$127,000

10-Year Average

$305,000

$231,500

$153,000

Variation from Avg. Price

7%

3%

-17%

Number of Transactions

566

92

58

House

Unit

Vacant Land

1 Year (Jan 2021-2022)

4%

13%

10%

3 Year (Jan 2019-2022)

18%

13%

11%

5 Year (Jan 2017-2022)

14%

29%

2%

10 Year (Jan 2012-2022)

1%

-4%

-13%

Price Growth

Median Price by Bedroom

1 Bed

2 Bed

3 Bed

4 Bed

Overall

House

$281,250

$260,000

$300,000

$450,000

$326,020

Unit

$140,000

$227,500

$291,000

$425,000

$239,500

Source: Settled Sales sourced from Landgate

8

Rental Overview GOLDFIELDS-ESPERANCE

Rental Market Trends 2017 - 2022

Rental Statistics

514

Median Price

Dwellings Leased Jan – Jun 2022

$435

Median Weekly Rent Jan – Jun 2022

500 450 400 350 300 250 200 150 100 50 0

GRAPH TBC

Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022

+$76 (+21%)

$500 $450 $400 $350 $300 $250 $200 $150 $100 $50 $0

Increase in Median Weekly Rent H1 2021 – H1 2022

Dwellings Leased

Median Weekly Rent

Median Days To Lease 45

18

40

Median Days to Lease Jan – Jun 2022

35

Days

30

0.47%

25 20 15

Vacancy Rate, Jun 2022

10

90

5 0

Dwellings Listed For Rent Week of 25 Jun 2022

Rental Market Summary, H1 2022 Median Rent by Bedroom

1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom

5+ Bedroom

Overall

House

$279

$355

$437

$525

$778

$455

Unit

$323

$375

$470

$650

-

$398

Weighted average of March and June 2022 quarters

Source: Online Property Listings sourced from Domain Weekly, Vacancy Rates sourced from SQM Research

9

Number of Transactions

Rental Market

Dwelling Construction Overview GOLFIELDS-ESPERANCE

Approval Statistics

Residential Building Approvals 2021-22 Residential Building Approvals (No.) 250

101

(-32% YOY)

New Houses Approved 2021-22

200 150 100 50 0

GRAPH TBC

$51.26m

Total Value of Residential Building Approved 2021-22

New Houses

New Other Residential

Total

Value of Residential Building Approvals ($) $90,000,000 $80,000,000

$104.48m

Total Value of NonResidential Building Approved 2021-22

$70,000,000 $60,000,000 $50,000,000 $40,000,000 $30,000,000 $20,000,000 $10,000,000 $

Source: REMPLAN, ABS - Building Approvals, Cat. 8731.0.

10

Lot Activity Overview GOLDFIELDS-ESPERANCE

State Lot Activity - Residential, January – June 2022 GoldfieldsApplications under Developerlodged assessment Esperance Regional applications (proposed lots at Activity Summary – (proposed lots) end of Mar 22) Q1 2022

Conditional approvals (proposed lots)

Developers’ stock of conditional approvals Final Approvals (proposed lots at end of Mar 22)

Kalgoorlie-Boulder (C)

84

84

60

192

2

Esperance (S)

3

1

2

268

0

Remaining LGAs

1

0

0

Total

88

85

62

GoldfieldsApplications under Developerlodged assessment Esperance Regional applications (proposed lots at Activity Summary – (proposed lots) end of Jun 22) Q2 2022

GRAPH TBC

Conditional approvals (proposed lots)

6

0

466

2

Developers’ stock of conditional approvals Final Approvals (proposed lots at end of Jun 22)

Kalgoorlie-Boulder (C)

80

74

85

249

34

Esperance (S)

2

1

2

177

0

Remaining LGAs

15

15

0

6

1

Total

97

90

87

432

35

Comparative Quarterly Change (Totals)

+10%

+6%

+40%

-7%

+1650%

Final approval is defined as Western Australian Planning Commission (WAPC) endorsement of the proponent’s submitted deposited plan or strata/ survey strata plan describing the now complete subdivision constructed in accordance with the conditions set down in the conditional approval.

Deposited plans/strata plans that have final approval are registered with Landgate (formerly Department of Land Information) where certificates of titles for the newly created lots can be issued. The characteristic difference in lot numbers seen between conditional and final approvals arises from proponents choosing not to proceed with the subdivision in the specified four year period in accordance with the conditions of the conditional approval either at all, only in part, or via another conditional approval incorporating a new plan for the subject land. More definitions can be found on the WA Department of Planning, Lands and Heritage website.

Source: State Lot Activity sourced from the Department of Planning, Lands and Heritage (DPLH)

11

City of Kalgoorlie-Boulder SPOTLIGHT

Residential Market The City of Kalgoorlie-Boulder is the largest residential market in the Goldfields-Esperance region. The market is characterised by a range of established suburbs, with moderate infill and land subdivision.

Kalgoorlie-Boulder market activity remained elevated during the first half of 2022. The number of recorded house transactions (sales) was 360 – an increase of 106 percent compared to the same period in 2019.

House prices increased by 5 percent over the 12month period.

Unit sales volumes in the City of Kalgoorlie-Boulder were the highest in a decade. The median price of units increased by 10 percent between H1 2021 and H1 2022. Over a three-year period, median unit prices have risen by 39 percent.

The median price of vacant residential land sold increased by 28 percent in the year to June 2022.

Land transaction volumes returned to levels more

consistent with historical norms, following a spike in activity during the second half of 2020.

The rental vacancy rate in the City of KalgoorlieBoulder furthered tightened to 0.3 percent, while the median weekly rent price increased by 26 percent between H1 2021 and H1 2021.

Population and Demographics Kalgoorlie-Boulder was home to an estimated 30,674 people in 2021. Based on ABS estimates, the resident population of Kalgoorlie-Boulder declined by 4.8 percent over the decade to 2021. However, it should be noted that Kalgoorlie-Boulder has a substantial and growing non-resident workforce. This is not reflected in population statistics, but has a significant impact on the residential market, particularly the rental market.

Accommodation of the growing non-residential workforce is limiting dwellings available for the residential workforce and those wishing to relocate to Kalgoorlie-Boulder to live and work.

+5%

$1,600/m

+26%

$2,324/wk

Median House Price Change (YOY)

Asking Rental Price (YOY)

Median Mortgage Repayment

Median Household Income

12

Residential Sales Overview CITY OF KALGOORLIE-BOULDER

Residential Market Trends, 2012 - 2022

Key Statistics

Median House Price Jan – Jun 2022

5%

$400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0

1 Year Median House Price Growth rate H1 2021 – H1 2022

450 400 350 300 250 200 150 100 50 0

Number of Transactions

Number of Transactions

$335,000

Median Price

House Prices

Median Price

GRAPH TBC

Median Unit Price Jan – Jun 2022

90 80 70 60 50 40 30 20 10 0 H1 2012 H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017 H2 2017 H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022

10%

$400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0

Number of Transactions

$237,000

Median Price

Unit Prices

1 Year Median Unit Price Growth Rate H1 2021 – H2 2022

Number of Transactions

Median Price

28%

1 Year Median Vacant Land Price Growth Rate H1 2021 – H1 2022 Source: Settled Sales sourced from Landgate

GRAPH TBC

45 40 35 30 25 20 15 10 5 0

Number of Transactions

Median Price

Number of Transactions

Median Vacant Land Price Jan – Jun 2022

$200,000 $180,000 $160,000 $140,000 $120,000 $100,000 $80,000 $60,000 $40,000 $20,000 $0

H1 2012 H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017 H2 2017 H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022

$101,500

Median Price

Vacant Land Prices

Residential Sales Overview CITY OF KALGOORLIE-BOULDER

Key Statistics

Discount on Original Price, 2012 - 2022 Vendor Discounting

-6.0% -8.0% -10.0%

Average Discount on Original Listing Price

Average Days to Sell Jan – Jun 2022

H1 2022

H2 2021

H1 2021

H2 2020

H1 2020

H2 2019

H1 2019

H2 2018

H1 2018

H2 2017

H1 2017

H2 2016

H1 2016

GRAPH TBC H2 2015

H1 2015

H2 2014

H1 2014

56

H2 2013

-14.0%

H1 2013

-12.0%

Average Discount On Listing Price Jan – Jun 2022

H2 2012

- 5%

-4.0%

H1 2012

Property Transactions Jan – Jun 2022

-2.0% Median Price

462

0.0%

10 year average

Residential Market Summary, January – June 2022 Sales Summary

House

Unit

Vacant Land

Median Price

$335,000

$237,000

$101,500

10-Year Average

$320,000

$230,000

$160,000

Variation from Avg.

5%

3%

-37%

Number of Transactions

360

80

22

Price Growth

House

Unit

Vacant Land

1 Year (Jun 2021-2022)

5%

10%

28%

3 Year (Jun 2019-2022)

12%

12%

-13%

5 Year (Jun 2017-2022)

11%

39%

-19%

10 Year (Jun 2012-2022)

-3%

-1%

-45%

Median Price by Bedroom

1 Bed

2 Bed

3 Bed

4 Bed

Overall

House

$282,500

$302,000

$316,500

$435,500

$335,000

Unit

$140,000

$227,500

$290,000

$425,000

$237,000

Source: Settled Sales sourced from Landgate

14

Rental Overview

CITY OF KALGOORLIE-BOULDER

Rental Market Trends, 2017 - 2022

Rental Statistics

Dwellings Leased and Rents

380

$600

400 350

$500

Dwellings Leased Jan – Jun 2022

300

$400

$464

250 200

$300

150

$200

Median Weekly Rent Jan – Jun 2022

100

$100

50

$0

+$95 (+26%)

0

GRAPH TBC

Increase in Median Weekly Rent H1 2021 – H1 2022

Dwellings Leased

Median Weekly Rent

Median Days To Lease

17

40 35

Median Days to Lease Jan – Jun 2022

30 25

0.3%

20

Vacancy Rate, June 2022 down from 1.35% in June 2021

15

47

5

10

Q2 2022

Q1 2022

Q4 2021

Q3 2021

Q2 2021

Q1 2021

Q4 2020

Q3 2020

Q2 2020

Q1 2020

Q4 2019

Q3 2019

Q2 2019

Q1 2019

Q4 2018

Q3 2018

Q2 2018

Q1 2018

Q4 2017

Q3 2017

Q1 2017

Q2 2017

0

Dwellings Listed For Rent Week of 25 Jun 2022

Rental Market Summary, H1 2022 Median Rent by Bedroom

1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom

5+ Bedroom

Overall

House

$260

$373

$464

$617

$833

$490

Unit

$319

$397

$469

$650

-

$406

Weighted average of March and June 2022 quarters Source: Online Property Listings sourced from Domain, Vacancy Rates sourced from SQM Research

15

Shire of Esperance SPOTLIGHT

Residential Market Housing stock in the Shire of Esperance is largely comprised of single residential houses in Esperance and surrounding rural areas. As of the 2021 Census, 87 percent of dwellings were single houses, with a further 8.3 percent considered to be semi-detached, terrace or a townhouse. There is relatively high level of holiday home stock as suggested by the estimated 17 percent of dwellings unoccupied.

The Esperance house market continued to experience significant price growth during the first half of 2022, with the median house price increasing by 17 percent year-on-year. However, this was outpaced by growth in the unit market, which experienced annual median price growth of 33 percent. The median price of vacant residential land decreased by 24 percent over the same period.

Esperance house, unit and land transaction volumes were lower compared to the same period in 2021, suggesting a slowdown in buyer activity following two years of elevated transaction volumes.

With a vacancy rate of 0.1 percent at the end of June 2022, the Esperance rental market continued to exhibit exceptional tightness, presenting ongoing availability and affordability challenges. The median rent price in Esperance increased by 5 percent to $363 a week over the year to June 2022.

Population and Demographics Esperance is home to an estimated 14,398 people.

Based on ABS figures, the resident population is estimated to have increased by 3.8 percent in the decade to 2021. There were 3,441 families residing in the Shire of Esperance as of the 2021 Census. Median monthly mortgage repayments were 15 percent lower than the Western Australian median.

+17%

$1,560/m

2.4

$1,521/wk

Median House Price Change (YOY)

Average Household Size

Median Mortgage Repayment

Median Household Income

16

Residential Sales Overview SHIRE OF ESPERANCE

Key Statistics

Residential Market Trends, 2012 - 2022

Median House Price Jan – Jun 2022

17%

1 Year Median House Price Growth rate H1 2021 – H1 2022

$450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0

200 180 160 140 120 100 80 60 40 20 0

Number of Transactions

$410,000

Median Price

House Prices

GRAPH TBCMedian Price Number of Transactions

8

$200,000

6

$150,000

4

$100,000

Number of Transactions

H1 2022

H2 2021

H1 2021

H2 2020

H1 2020

H2 2019

H1 2019

H2 2018

H1 2018

H2 2017

H1 2017

H2 2016

H1 2016

H2 2015

0 H1 2015

$0 H2 2014

2 H1 2014

$50,000

Number of Transactions

10

$250,000

H1 2012

1 Year Median Unit Price Growth Rate H1 2021 – H2 2022

$300,000

H2 2013

33%

12

H1 2013

Median Unit Price Jan – Jun 2022

$350,000

H2 2012

$300,000

Median Price

Unit Prices

Median Price

GRAPH TBC

$250,000

$50,000

Number of Transactions Source: Settled Sales sourced from Landgate

Median Price

H1 2022

H2 2021

H1 2021

H2 2020

H1 2020

H2 2019

H1 2019

H2 2018

H1 2018

H2 2017

H1 2017

H2 2016

H1 2016

H2 2015

H1 2015

H2 2014

H1 2014

H2 2013

$0 H1 2013

1 Year Median Vacant Land Price Growth Rate H1 2021 – H1 2022

$100,000

H2 2012

-24%

$150,000

H1 2012

Median Vacant Land Price Jan – Jun 2022

$200,000

Median Price

$160,000

50 45 40 35 30 25 20 15 10 5 0

Number of Transactions

Vacant Land Prices

Residential Sales Overview SHIRE OF ESPERANCE

Discount on Original Price, 2012 - 2022

Key Statistics

Vendor Discounting

Median Price

Property Transactions Jan – Jun 2022

- 4%

Average Discount On Listing Price Jan – Jun 2022

0.0% -2.0% -4.0% -6.0% -8.0% -10.0% -12.0% -14.0% -16.0%

54

Average Days to Sell Jan – Jun 2022

GRAPH TBC H1 2012 H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017 H2 2017 H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022

137

Average Discount on Original Listing Price

10 year average

Residential Market Summary, January – June 2022 Sales Summary

House

Unit

Vacant Land

Median Price

$410,000

$300,000

$160,000

10-Year Average

$350,000

$275,000

$168,000

Variation from Avg.

17%

9%

-5%

Number of Transactions

112

8

17

Price Growth

House

Unit

Vacant Land

1 Year (Jun 2021-2022)

17%

33%

-24%

3 Year (Jun 2019-2022)

38%

26%

-2%

5 Year (Jun 2017-2022)

29%

30%

3%

10 Year (Jun 2012-2022)

16%

-7%

14%

Median Price by Bedroom

1 Bed

2 Bed

3 Bed

4 Bed

Overall

House

$382,000

$288,000

$392,500

$547,500

$410,000

Unit

-

$270,000

$320,000

Source: Settled Sales sourced from Landgate

$300,000 18

Rental Overview SHIRE OF ESPERANCE

Rental Statistics

Rental Market Trends, 2017 - 2022

62

Median Price

Dwellings Leased Jan – Jun 2022

$363

Median Weekly Rent Jan – Jun 2022

$400

80

$350

70

$300

60

$250

50

$200

40

$150

30

$100

20

$50

10

$0

+$18 (+5%)

0

GRAPH TBC

Increase in Median Weekly Rent H1 2021 – H1 2022

Dwellings Leased

Number of Transactions

Dwellings Leased and Rents

Median Weekly Rent

Median days to lease 60 50

17

40

Days

Median Days to Lease, Jan – Jun 2022

0.1%

30 20 10

Vacancy Rate, Jun 2022, down from 0.2% in June 2021

Q2 2022

Q1 2022

Q4 2021

Q3 2021

Q2 2021

Q1 2021

Q4 2020

Q3 2020

Q2 2020

Q1 2020

Q4 2019

Q3 2019

Q2 2019

Q1 2019

Q4 2018

Q3 2018

Q2 2018

Q1 2018

Q4 2017

5

Q3 2017

Q2 2017

0

Dwellings Listed For Rent Week of 25 Jun 2022

Rental Market Summary, H1 2022 Median Rent by Bedroom

1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom

5+ Bedroom

Overall

House

$280

$317

$368

$470

-

$378

Unit

-

$308

$358

-

-

$309

Weighted average of March and June 2022 quarters Source: Online Property Listings sourced from Domain, Vacancy Rates sourced from SQM Research

19

Shire of Ravensthorpe SPOTLIGHT

Residential Market

Population and Demographics

The Shire of Ravensthorpe includes the towns of Hopetoun and Ravensthorpe, and rural locations.

The key industries in the area are nickel and lithium mining, and livestock and crop farming. As a result, the unit market in the Shire is very small with the vast majority of housing stock classified as detached houses.

The Shire of Ravensthorpe is home to an estimated 2,157 people. Based on ABS data, the resident population declined by 1.4 percent in the decade to 2021. The resident population continues to fluctuate considerably due to changes in the local resources sector. Resource sector activity has experienced an upswing in recent years, with the local resource sector seeking to use residential-based workers where possible, resulting in increased demand for dwellings in Ravensthorpe and Hopetoun.

The Shire of Ravensthorpe experienced continued strong median house price growth in the first half of 2022, with prices rising 34 percent between H1 2021 and H1 2022. Median price growth over the last three years was 53 percent. House and vacant land transactions (sales) during H1 2022 reached the highest level in a decade.

The local rental market across the Shire remained tight in 2022, although it is important to note that the Shire has a small formal rental market.

Ravensthorpe recorded a rental vacancy rate of 0.8 percent during June 2022, while Hopetoun’s vacancy rate was even lower at 0.3 percent. This rental market tightness in part reflects increased mining investment in the area. Weekly median rents rose by 56 percent year-on-year.

2.2

Average Household Size

Median monthly mortgage repayments in the Shire of Ravensthorpe are $1,029 – 44 percent lower than the Western Australian median. As of the 2021 Census, 505 families resided in the Shire.

+34%

Median House Price Change (YOY)

$1,029/m Median Mortgage Repayment

$1,655/wk Median Household Income

20

Residential Sales Overview SHIRE OF RAVENSTHORPE

Key Statistics

Residential Market Trends, 2012 - 2022

Median House Price Jan – Jun 2022

34%

1 Year Median House Price Growth rate H1 2021 – H1 2022

$350,000

30

$300,000

25

$250,000

20

$200,000

15

$150,000

10

$100,000 $50,000

5

$0

0

Number of Transactions

$285,000

Median Price

House Prices

GRAPH TBC Median Price Number of Transactions

-87%

$150,000 $100,000 $50,000 $0 H1 2012 H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017 H2 2017 H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022

1 Year Median Unit Price Growth Rate H1 2021 – H2 2022

$200,000

Median Price

Median Unit Price Jan – Jun 2022

10 9 8 7 6 5 4 3 2 1 0

$250,000

$29,000

Number of Transactions GRAPH TBC Median Price

Ravensthorpe does not feature an active unit market, with only a small number of dwellings that can be considered units. As such, unit trends have not been featured.

Source: Settled Sales Sourced from Pricefinder

21

Number of Transactions

Vacant Land Prices

Residential Sales Overview SHIRE OF RAVENSTHORPE

Key Statistics

Discount on Original Price, 2012 - 2022 Vendor Discounting 0.0%

34

-5.0% Median Price

Property Transactions Jan – Jun 2022

- 6%

Average Discount On Listing Price Jan – Jun 2022

-10.0% -15.0% -20.0% -25.0% -30.0% -35.0%

115

GRAPH TBC

Average Discount on Original Listing Price

Average Days to Sell Jan – Jun 2022

10 year average

Residential Market Summary, January – June 2022 Sales Summary

House

Unit

Vacant Land

Median Price

$285,000

-

$29,000

10-Year Average

$210,000

-

$72,500

Variation from Avg.

36%

-

-60%

Number of Transactions

25

-

9

Price Growth

House

Unit

Vacant Land

1 Year (Jun 2021-2022)

34%

-

-87%

3 Year (Jun 2019-2022)

54%

-

93%

5 Year (Jun 2017-2022)

27%

-

-45%

10 Year (Jun 2012-2022)

56%

-

-81%

Median Price by Bedroom

1 Bed

2 Bed

3 Bed

4 Bed

Overall

House

-

$155,000

$287,500

$389,000

$285,000

Unit

-

-

-

-

-

Source: Settled Sales sourced from Landgate

22

Rental Overview SHIRE OF RAVENSTHORPE

Rental Statistics

Rental Market Trends, 2017 - 2022

24

Median Price

Dwellings Leased Jan – Jun 2022

$437

Median Weekly Rent Jan – Jun 2022

+$157 (+56%)

$500 $450 $400 $350 $300 $250 $200 $150 $100 $50 $0

18 16 14 12 10 8 6 4 2 0

GRAPH TBC

Increase in Median Weekly Rent H1 2021 – H1 2022

Dwellings Leased

Number of Transactions

Dwellings Leased and Rents

Median Weekly Rent

Median Days to Lease 90 80 70

22

60

Median Days to Lease Jan – Jun 2022

50

0.4%

30

40 20

Vacancy Rate, Jun 2022

10 0

6

Dwellings Listed For Rent Week of 17 Jun 2022

Rental Market Summary, H1 2022 Median Rent by Bedroom

1 Bedroom

2 Bedroom

3 Bedroom

4 Bedroom 5+ Bedroom

Overall

House

-

$305

$328

$450

-

$437

Unit

-

-

-

-

-

-

Weighted average of March and June 2022 quarters Source: Online Property Listings sourced from Domain, Vacancy Rates sourced from SQM Research

23

Shire of Coolgardie SPOTLIGHT

Residential Market The Shire of Coolgardie includes the townsites of Kambalda, supported by nickel and gold mining, and historic Coolgardie, which is developed around significant gold mining operations. Both towns have substantial non-resident workforces and a high proportion of employer provided housing which is not represented in housing market activity datasets.

The Shire of Coolgardie continued its recent strong house price growth and sales volume trajectory during the January-June period of 2022. Year-onyear median house price growth was 21 percent.

Median house price growth over the last three years was 71 percent. House transaction volumes have remained elevated since the second half of 2020.

The vast bulk of the Shire’s rental stock is located in Kambalda. Median rent prices in the Shire of Coolgardie increased significantly over the last 12 months to June, rising by 48 percent from $214 per week in H1 2021 to $316 in H1 2022. Across the Shire, the rental vacancy rate was 3 percent at the end of June 2022. The vacancy rate in Kambalda was 2.4 percent.

Population and Demographics The Shire of Coolgardie was home to an estimated 3,638 people in 2021. Over the 2011-21 period, the resident population declined by an estimated 12 percent, though this does not accurately capture transient population and more recent activity.

Median monthly mortgage repayments are 47 percent lower than the Western Australian median, while the median household income is 4.2 percent higher than the WA median.

+21%

$975/m

2.5

$1,893/wk

Median House Price Change (YOY)

Average Household Size

Median Mortgage Repayment

Median Household Income

24

Residential Sales Overview SHIRE OF COOLGARDIE

Key Statistics

Residential Market Trends, 2012 - 2022

$133,500

Median House Price Jan – Jun 2022

Median Price

$200,000

70 60

$150,000

50 40

$100,000

21%

30

$50,000

20

$0

0

1 Year Median House Price Growth rate H1 2021 – H1 2022

10

Number of Transactions

GRAPH TBC

Number of Transactions

House Prices

Median Price

8 7 6 5 4 3 2 1 0

$140,000

Median Unit Price Jan – Jun 2022

4

Median Price

$112,500

$120,000 $100,000 $80,000 $60,000 $40,000 $20,000 $0 H1 2012 H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017 H2 2017 H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022

Number Of Unit Transactions For This Period

Number of Transactions

Unit Prices

Number of Transactions

Median Price

131%

1 Year Median Vacant Land Price Growth Rate H1 2021 – H1 2022 Source: Settled Sales sourced from Landgate

14

GRAPH TBC

12 10 8 6 4 2 0

Number of Transactions

Median Price

25

Number of Transactions

Median Vacant Land Price Jan – Jun 2022

$100,000 $90,000 $80,000 $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $0

H1 2012 H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017 H2 2017 H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022

$19,250

Median Price

Vacant Land Prices

Residential Sales Overview SHIRE OF COOLGARDIE

Discount on Original Price, 2012 - 2022

Key Statistics

Vendor Discounting 0.0%

61

-5.0%

-20.0% -25.0%

Average Discount on Original Listing Price

Average Days to Sell Jan – Jun 2022

10 year average

Residential Market Summary, January – June 2022 Sales Summary

House

Unit

Vacant Land

Median Price

$133,500

$112,500

$19,250

10-Year Average

$120,000

$87,500

$15,500

Variation from Avg.

11%

29%

24%

Number of Transactions

52

4

5

Price Growth

House

Unit

Vacant Land

1 Year (Jun 2021-2022)

21%

-4%

131%

3 Year (Jun 2019-2022)

71%

-

114%

5 Year (Jun 2017-2022)

91%

25%

-4%

10 Year (Jun 2012-2022)

-25%

15%

-4%

Median Price by Bedroom

1 Bed

2 Bed

3 Bed

4 Bed

Overall

House

$69,000

$85,000

$133,500

$219,000

$133,500

Unit

-

$112,500

-

-

$112,500

Source: Settled Sales sourced from Landgate

26

H1 2022

H2 2021

H1 2021

H2 2020

H1 2020

H2 2019

H1 2019

H2 2018

H1 2018

H2 2017

H1 2017

H1 2015

H2 2014

H1 2014

H2 2013

H1 2013

H2 2012

66

GRAPH TBC H1 2012

-30.0%

H2 2016

Average Discount On Listing Price Jan – Jun 2022

-15.0%

H1 2016

- 8%

-10.0%

H2 2015

Median Price

Property Transactions Jan – Jun 2022

Rental Overview SHIRE OF COOLGARDIE

Rental Market Trends, 2017 - 2022

Rental Statistics

46

$350

50 45 40 35 30 25 20 15 10 5 0

$300

Median Price

Dwellings Leased Jan – Jun 2022

$316

Median Weekly Rent Jan – Jun 2022

$250 $200 $150 $100 $50

+$102 (+48%)

GRAPH TBC

$0

Increase in Median Weekly Rent H1 2021 – H1 2022

Dwellings Leased

Median Weekly Rent

Median days to lease 140

41

120

Median Days to Lease Jan – Jun 2022

100

Days

3%

Vacancy Rate, Jun 2022

80 60 40

24

20 0

Dwellings Listed For Rent Week of 25 Jun 2022

Rental Market Summary, H1 2022 Median Rent by Bedroom

1 Bedroom 2 Bedroom 3 Bedroom 4 Bedroom

5+ Bedroom

Overall

House

-

$283

$311

$395

-

$333

Unit

-

$213

-

-

-

$214

Weighted average of March and June 2022 quarters Source: Online Property Listings sourced from Domain, Vacancy Rates sourced from SQM Research

27

Number of Transactions

Dwellings Leased and Rents

Shire of Dundas SPOTLIGHT

Residential Market

Population and Demographics

The Shire of Dundas’ main population centre is the town of Norseman, a historic community which developed around the Norseman Gold Mine.

Housing stock in the town is predominantly detached houses, many of which are ageing.

The Shire of Dundas is home to an estimated 715 people. Between 2011 and 2021, the resident population of Dundas is estimated to have declined by 41 percent, based on ABS data. Over the last five years, the population has stabilised. It should be noted that such resident population figures often do not accurately reflect the high transient worker population.

Median house prices in the Shire of Dundas increased by 5 percent over the year between H1 2021 and H1 2022. Due to its small market and reliance on cyclical mining activity, median prices in the Shire of Dundas are subject to significant fluctuations in a given year or half year period.

However, between 2017 and 2022, median house price values in the Shire rose by 46 percent.

+5%

$600/m

1.8

$827/wk

Median House Price Change (YOY)

Average Household Size Photo: ourgems.com.au

Median monthly mortgage repayments in the Shire of Dundas were 67 percent lower than that of the Western Australian median. As of the 2021 Census, Dundas was home to 127 families.

Median Mortgage Repayment

Median Household Income 28

Residential Sales Overview SHIRE OF DUNDAS

Key Statistics

Residential Market Trends, 2012 - 2022 $70,000

5%

$50,000 $40,000 $30,000 $20,000 $10,000 $0 H1 2012 H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017 H2 2017 H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022

Median House Price Jan – Jun 2022

$60,000

Median Price

$57,500

16 14 12 10 8 6 4 2 0

Number of Transactions

House Prices

1 Year Median House Price Growth rate H1 2021 – H1 2022

Number of Transactions

GRAPH TBC

Median Price

No unit transactions were recorded from January to June of 2022.

Overall, there are few dwellings in Dundas that would be considered to be units which impacts on unit transaction levels.

Vacant Land Prices $12,000

3

$6,000

2

$4,000 $2,000

1

$0

0 H1 2012 H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017 H2 2017 H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022

Median Vacant Land Price Jan – Jun 2022

$8,000

4

GRAPH TBC

Number of Transactions

Source: Settled Sales sourced from Landgate

Median Price

29

Number of Transactions

$10,000

Median Price

$10,000

5

Residential Sales Overview SHIRE OF DUNDAS

Discount on Original Price, 2012 - 2022

Key Statistics

Vendor Discounting 0.0%

Property Transactions Jan – Jun 2022

- 8%

-10.0% -20.0% -30.0% -40.0% -50.0% -60.0%

Average Discount On Listing Price Jan – Jun 2022

H1 2012 H2 2012 H1 2013 H2 2013 H1 2014 H2 2014 H1 2015 H2 2015 H1 2016 H2 2016 H1 2017 H2 2017 H1 2018 H2 2018 H1 2019 H2 2019 H1 2020 H2 2020 H1 2021 H2 2021 H1 2022

Median Price

16

GRAPH TBC

92

Average Discount on Original Listing Price

10 year average

Average Days to Sell Jan – Jun 2022

Residential Market Summary, January – June 2022 Sales Summary

House

Unit

Vacant Land

Median Price

$57,500

-

$10,000

10-Year Average

$39,725

$121,000

$10,000

Variation from Avg.

45%

-

0%

Number of Transactions

12

-

4

Price Growth

House

Unit

Vacant Land

1 Year (Dec 2020-2021)

5%

-

-

3 Year (Dec 2018-2021)

-4%

-

-

5 Year (Dec 2016-2021)

46%

-

54%

10 Year (Dec 2011-2021)

64%

-

0%

Median Price by Bedroom

1 Bed

2 Bed

3 Bed

4 Bed

Overall

House

$25,000

$67,400

$60,000

-

$57,500

Unit

-

-

-

-

-

Source: Settled Sales sourced from Landgate

30

Rental Overview SHIRE OF DUNDAS

Rental Commentary

Rental Market Trends, 2017 - 2022

The Shire of Dundas does not feature an active formal rental market to the same extent as larger regional localities. The majority of dwellings leased in the Shire of Dundas occurs outside of the formal market, such as through private agreements and friends and family rather than through agents.

As a result, there is limited data that can be sourced for the area.

Dwellings Leased and Rents

Corporate housing also makes up a portion of housing in Norseman, servicing nearby resource projects such as the Norseman Gold Project.

$300

4

$250

3

$200 $150

2

$100

1

$50 $0

0

GRAPH TBC Dwellings Leased

Median Weekly Rent

Median days to lease 100 90 80

Days

70 60 50 40 30 20 10 0

Tenure & Landlord Type, 2021 Tenure & Landlord Type

Number of Dwellings

Owned Outright or with a Mortgage

142

Rented from a community group or from state housing authority Rented Privately Rented - Real Estate Agent Rented - Other landlord type Other tenure type Tenure type not stated

10 39 6 18 21 28

Source: Online Property Listings sourced from Domain, Vacancy Rates from SQM Research, Tenure & Landlord Type from ABS.

31

Northern Goldfields & Ngaanyatjarra Lands

Residential Market Characteristics The Northern Goldfields and Ngaanyatjarra Lands areas (the Menzies, Laverton, Leonora, Wiluna and Ngaanyatjarruku Local Government Areas) comprise a large geographical area of the GoldfieldsEsperance region. These areas are also responsible for significant economic activity in the region, with a number of mines operating and planned in Leonora, Laverton, Menzies and Wiluna. In addition to established towns, this area features a number of smaller mining camps and Aboriginal settlements, such as Leinster in Leonora and the Tjuntjuntjara Community in Menzies.

All local government areas feature relatively low population counts and have comparatively small property markets, particularly formal rental markets.

Given the high level of mining activity in the area, there is also a substantial non-resident workforce in the region that creates a demand for private rentals, though a large volume of accommodation for these workers is catered for at corporate mining accommodation camps.

However, this dropped to an estimated 1,491 in 2016 before increasing to 1,717 in 2021.

The Shire of Wiluna experienced a significant fall in its estimated resident population in the decade to 2021. Ngaanyatjarraku also experienced a decline, albeit slight. In contrast, the Menzies and Laverton Shires experienced moderate resident population growth during this period.

During the first half of 2022, the Northern Goldfields experienced an increase in median house prices compared to the same period in 2021. The median house price increased by 9 percent over this 12month period. In the three years to H1 2022, median house price growth in the Northern Goldfields was 68 percent. Vacant land values increased by 43 percent over the same period.

These localities face a number of challenges due to the remote nature of townsites, with service provision and adequate staffing issues being experienced.

Sufficient service provision is compounded by issues around the availability and quality of Government Population growth in this region fluctuates and growth Regional Officer Housing and social housing in the is typically dictated by mining employment. For area, with stakeholders citing these as barriers to instance, the Shire of Leonora’s resident population attracting and retaining residents and workers. was estimated to be 2,628 in 2011.

Photo: Lauren Darge, ourgems.com.au

32

Residential Sales Overview

NORTHERN GOLDFIELDS & NGAANYATJARRA LANDS

Residential Market Trends, 2012 - 2022

Key Statistics

Median House Price Jan – Jun 2022

9%

1 Year Median House Price Growth rate H1 2021 – H1 2022

$140,000

16

$120,000

14

$100,000

12 10

$80,000

8

$60,000

6

$40,000

4

$20,000

2

$0

0

Number of Transactions

$92,500

Median Price

House Prices

GRAPH TBC Number of Transactions

Median Price

No unit transactions were recorded from January to June of 2021.

6

$30,000

GRAPH TBC

Number of Transactions Source: Settled Sales sourced from Landgate

H1 2022

H2 2021

H1 2021

H2 2020

H1 2020

H2 2019

H1 2019

H2 2018

H1 2018

H2 2017

H1 2017

0 H2 2016

$0 H1 2016

1 H2 2015

$5,000 H1 2015

2

H2 2014

$10,000

H1 2014

3

H2 2013

1 Year Median Vacant Land Price Growth Rate

$15,000

H1 2013

-57%

4

H2 2012

Median Vacant Land Price Jan – Jun 2022

5

$20,000

H1 2012

$10,000

Median Price

$25,000

Median Price

33

Number of Transactions

Vacant Land Prices

Residential Sales Overview

NORTHERN GOLDFIELDS & NGAANYATJARRA LANDS

Key Statistics

Discount on Original Price, 2012 - 2022 Vendor Discounting

6

0.0%

-30.0% -40.0% -50.0% -60.0%

Average Discount on Original Listing Price

10 year average

Residential Market Summary, January – June 2022 Sales Summary

House

Unit

Vacant Land

Median Price

$92,500

-

$10,000

10-Year Average

$60,000

$35,000

$10,000

Variation from Avg.

54%

-

0%

5

-

1

House

Unit

Vacant Land

1 Year (Jun 2021-2022)

9%

-

-57%

3 Year (June 2019-2022)

68%

-

43%

5 Year (June 2017-2022) 10 Year (June 20122022)

23%

-

43%

2%

-

-

Number of Transactions

Price Growth

Median Price by Bedroom

1 Bed

2 Bed

3 Bed

4 Bed

Overall

House

-

$101,250

$85,000

$80,000

$92,500

Unit

-

-

-

-

-

Source: Settled Sales sourced from Landgate

34

H1 2022

H2 2021

H1 2021

H2 2020

H1 2020

H2 2019

H1 2019

H2 2018

H1 2018

H2 2017

H1 2017

H2 2016

H1 2016

H2 2015

H1 2015

H2 2014

H1 2014

Average Days to Sell Jan – Jun 2022

H2 2013

80

H1 2013

GRAPH TBC

-70.0%

H2 2012

Average Discount On Listing Price Jan – Jun 2022

-20.0%

H1 2012

- 4%

-10.0% Median Price

Property Transactions Jan – Jun 2022

Rental Overview

NORTHERN GOLDFIELDS & NGAANYATJARRA LANDS

Rental Commentary The rental market in the Northern Goldfields and Ngaanyatjarra Lands region features a high volume of social housing stock and there are few dwellings rented through real estate agents. As a result, rental market activity is very limited.

Data collation in these localities is difficult with the high volume of non-responses to the ABS Census and the transient nature of both the workforce and portions of the population. This provides less formal data to help build a full understanding of local housing issues.

GRAPH TBC

Dwellings by Landlord Type, 2021

Local Government Area

Housing coState housing operative, authority community group

Person not in Rented from Real Estate same household Agent

Other

Not stated

Laverton (S)

28

50

11

3

16

3

Leonora (S)

23

8

22

0

87

0

Wiluna (S)

14

14

5

0

11

0

Ngaanyatjarraku (S)

222

27

0

0

20

6

Menzies (S)

0

20

0

0

9

0

Source: 2016 Census - Counted in Region – Dwellings, ABS

35

Kalgoorlie-Boulder SUBURB SPOTLIGHTS

Suburb Spotlight Overview

Suburbs Included

The City of Kalgoorlie-Boulder features the most varied composition of housing stock in the region.

It is the only local government area in the region with a highly active unit and land market.

Data are only available for suburbs that have sufficient market activity to generate charts and statistics for the January to June period of 2022 (H1 2022).

The following pages provide an overview on the residential property markets in the suburbs within the City of Kalgoorlie-Boulder. These profiles identify the changes in median sales prices and transactions, changes in the rental market activity and key characteristics about average selling days.

These relevant suburbs are listed below:  Kalgoorlie  Boulder  Broadwood  Hannans  Karlkurla  Lamington  Piccadilly  Somerville  South Boulder  South Kalgoorlie  Victory Heights  West Lamington

36

Kalgoorlie

SUBURB OVERVIEW

Key Statistics

Residential Market Trends, 2012 - 2022

(% change H1 2021 – H1 2022)

Median House Price Jan – Jun 2022

70

$400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0

60 50 40 30 20 10 0

Number of Transactions

$284,500 (+3%)

Median Price

House Prices

GRAPH TBC Median Price

Number of Transactions

$439 (+20%)

Source: Settled Sales sourced from Landgate, Online Property Listings from Domain, Vacancy Rates from SQM Research

15 10 5 0

Number of Transactions

20

Median Price

Median Price

Dwellings Leased and Rents $500 $450 $400 $350 $300 $250 $200 $150 $100 $50 $0

GRAPH TBC

120 100 80 60 40 20 0

Dwellings Leased

Median Weekly Rent

37

Number of Transactions

Average Days to Sell Jan – Jun 2022

25

Number of Transactions

Median Weekly Rent Jan – Jun 2022

72

30

$400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0

Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022

Median Unit Price Jan – Jun 2022

Unit Prices Median Price

$250,000 (+26%)

Boulder

SUBURB OVERVIEW

Residential Market Trends, 2012 - 2022

Key Statistics

(% change H1 2021 – H1 2022)

$350,000

80

$300,000

70 60

$250,000

50

$200,000

40

$150,000

30

$100,000

20

$50,000

Median House Price Jan – Jun 2022

10

Number of Transactions

Median Price

$293,000 (+17%)

House Prices

0

$0

Number of Transactions

GRAPH TBC Median Price

$124,850 (-2%)

$350,000

12

$300,000

10

$250,000

Source: Settled Sales sourced from Landgate, Online Property Listings from Domain, Vacancy Rates from SQM Research

4

$100,000 $50,000

2

$0

0

Number of Transactions

Median Weekly Rent Jan – Jun 2022

Median Price

Median Price

Dwellings Leased and Rents $500 $450 $400 $350 $300 $250 $200 $150 $100 $50 $0

GRAPH TBC

Dwellings Leased

80 70 60 50 40 30 20 10 0

Median Weekly Rent

38

Number of Transactions

Average Days to Sell Jan – Jun 2022

6

$150,000

$404 (+28%)

53

8

$200,000

Number of Transactions

Median Price

Median Unit Price Jan – Jun 2022

Unit Prices

Broadwood SUBURB OVERVIEW

Key Statistics

Residential Market Trends, 2012 - 2022

(% change H1 2021 – H1 2022)

16 14 12 10 8 6 4 2 0

GRAPH TBC

Number of Transactions

$580

Median Price

Average Days to Sell Jan – Jun 2022

Median Price

Dwellings Leased and Rents

Median Weekly Rent Jan – Jun 2022

6

Number of Transactions

Median House Price Jan – Jun 2022

$900,000 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $0

$1,000

4.5

$900

4

$800

3.5

$700

3

$600

2.5

$500

2

$400

1.5

$300 $200

1

$100

0.5

$0

0

GRAPH TBC

Dwellings Leased

Median Weekly Rent

No unit transactions were recorded over the past decade in Broadwood. As a result, no trends have been presented.

Source: Settled Sales sourced from Landgate, Online Property Listings from Domain, Vacancy Rates from SQM Research

39

Number of Transactions

$500,000 (-20%)

Median Price

House Prices

Hannans

SUBURB OVERVIEW

Key Statistics

Residential Market Trends, 2012 - 2022

(% change H1 2021 – H1 2022)

Median Weekly Rent Jan – Jun 2022

Average Days to Sell Jan – Jun 2022

Median Price

Dwellings Leased and Rents

Median Price

36

GRAPH TBC Number of Transactions

$584 (+27%)

50 45 40 35 30 25 20 15 10 5 0

Number of Transactions

Median House Price Jan – Jun 2022

$500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0

$700

30

$600

25

$500

20

$400

15

$300

10

$200 $100

5

$0

0

GRAPH TBC Dwellings Leased

Median Weekly Rent

No unit transactions were recorded over H1 2022. As a result, no trends have been presented.

Source: Settled Sales sourced from Landgate, Online Property Listings from Domain, Vacancy Rates from SQM Research

40

Number of Transactions

$385,000 (+6%)

Median Price

House Prices

Karlkurla

SUBURB OVERVIEW

Key Statistics

Residential Market Trends, 2012 - 2022

(% change H1 2021 – H1 2022)

5

$700,000

Median House Price Jan – Jun 2022

Median Price

$618,500 (+2%)

$600,000

4

$500,000 $400,000

3

$300,000

2

$200,000

1

$100,000

0

$0

Number of Transactions

House Prices

GRAPH TBC Number of Transactions

$725 (+21%)

Dwellings Leased and Rents $800 $700

Median Price

Average Days to Sell Jan – Jun 2022

6 5

$600

4

$500 $400

3

$300

2

$200

1

$100 $0

Number of Transactions

Median Weekly Rent Jan – Jun 2022

29

Median Price

0

GRAPH TBC Dwellings Leased Median Weekly Rent

No unit transactions were recorded over H1 2022. As a result, no trends have been presented.

Source: Settled Sales sourced from Landgate, Online Property Listings from Domain, Vacancy Rates from SQM Research

41

Lamington

SUBURB OVERVIEW

Key Statistics

Residential Market Trends, 2012 - 2022

(% change H1 2021 – H1 2022)

Median House Price Jan – Jun 2022

45 40 35 30 25 20 15 10 5 0

$450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0

Number of Transactions

$392,000 (+7%)

Median Price

House Prices

GRAPH TBC Number of Transactions

$500 (+13%)

Median Price

Average Days to Sell Jan – Jun 2022

$600

30

$500

25

$400

20

$300

15

$200

10

$100

5

$0

0

GRAPH TBC

Dwellings Leased

Median Weekly Rent

No unit transactions were recorded over H1 2022. As a result, no trends have been presented.

Source: Settled Sales sourced from Landgate, Online Property Listings from Domain, Vacancy Rates from SQM Research

42

Number of Transactions

Dwellings Leased and Rents

Median Weekly Rent Jan – Jun 2022

52

Median Price

Piccadilly

SUBURB OVERVIEW

Residential Market Trends, 2012 - 2022

Key Statistics

(% change H1 2021 – H1 2022)

Median House Price Jan – Jun 2022

50 45 40 35 30 25 20 15 10 5 0

$450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0

Number of Transactions

GRAPH TBC

$473 (+36%)

Source: Settled Sales sourced from Landgate, Online Property Listings from Domain, Vacancy Rates from SQM Research

6 4 2 0

Number of Transactions

8

Median Price

Dwellings Leased and Rents $600

Median Price

$500

Average Days to Sell Jan – Jun 2022

10

Number of Transactions

Median Weekly Rent Jan – Jun 2022

55

12

$400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0

GRAPH TBC

$400 $300 $200 $100 $0

Dwellings Leased

50 45 40 35 30 25 20 15 10 5 0

Median Weekly Rent

43

Number of Transactions

Median Unit Price Jan – Jun 2022

Median Price

Unit Prices Median Price

$255,000 (+71%)

Number of Transactions

Median Price

$367,500 (+12%)

House Prices

Somerville

SUBURB OVERVIEW

Key Statistics

Residential Market Trends, 2012 - 2022

(% change H1 2021 – H1 2022)

Median House Price Jan – Jun 2022

$600,000

70

$500,000

60 50

$400,000

40

$300,000

30

$200,000

20

$100,000

10

$0

0

Number of Transactions

$481,000 (+17%)

Median Price

House Prices

Number of Transactions

GRAPH TBC Median Price 40

$300,000

35

$250,000

30

10

$50,000

5

$0

0

Median Price

Dwellings Leased and Rents $600

Median Price

$500

Source: Settled Sales sourced from Landgate, Online Property Listings from Domain, Vacancy Rates from SQM Research

15

$100,000

Number of Transactions

Median Weekly Rent Jan – Jun 2022

Average Days to Sell Jan – Jun 2022

20

$150,000

$533 (+22%)

47

25

$200,000

Number of Transactions

$350,000

GRAPH TBC

60 50

$400

40

$300

30

$200

20

$100

10

$0

0

Dwellings Leased

Number of Transactions

Median Unit Price Jan – Jun 2022

Median Price

$273,500 (+25%)

Unit Prices

Median Weekly Rent

44

South Boulder SUBURB OVERVIEW

Key Statistics

Residential Market Trends, 2012 - 2022

(% change H1 2021 – H1 2022)

House Prices 20

$250,000 $200,000

15

$150,000

10

$100,000 $50,000 $0

$521 (+40%)

5

GRAPH TBC

Number of Transactions

Number of Transactions

Median House Price Jan – Jun 2022

25

$300,000

Median Price

$225,000 (+2%)

$350,000

0

Median Price

Median Weekly Rent Jan – Jun 2022

Average Days to Sell Jan – Jun 2022

No unit transactions were recorded over the past decade in South Boulder. As a result, no trends have been presented.

$900

8

$800

7

$700

6

$600

5

$500 $400 $300

4

GRAPH TBC

3

$200

2

$100

1

$0

0

Dwellings Leased

Median Weekly Rent

Source: Settled Sales sourced from Landgate, Online Property Listings from Domain, Vacancy Rates from SQM Research

45

Number of Transactions

72

Median Price

Dwellings Leased and Rents

South Kalgoorlie SUBURB OVERVIEW

Residential Market Trends, 2012 - 2022

Key Statistics

(% change H1 2021 – H1 2022) $350,000

80

$300,000

70 60

$250,000

50

$200,000

40

$150,000

30

$100,000

20

$50,000

Median House Price Jan – Jun 2022

10 0

$0

Number of Transactions

Median Price

$300,000 (+23%)

House Prices

Number of Transactions GRAPH TBC Median Price

$205,000 (+78%)

7

$500,000

6

$400,000

5 4

$300,000

3

$200,000

2

$100,000

$432 (+13.6%)

Source: Settled Sales sourced from Landgate, Online Property Listings from Domain, Vacancy Rates from SQM Research

Median Price

Dwellings Leased and Rents $500 $450 $400 $350 $300 $250 $200 $150 $100 $50 $0

GRAPH TBC

60 50 40 30 20 10

Number of Transactions

Median Price

Average Days to Sell Jan – Jun 2022

0

Number of Transactions

Median Weekly Rent Jan – Jun 2022

63

1

$0

Number of Transactions

8

$600,000

Median Price

Median Unit Price Jan – Jun 2022

Unit Prices

0

Dwellings Leased

Median Weekly Rent

46

Victory Heights SUBURB OVERVIEW

Residential Market Trends, 2012 - 2022

Key Statistics

(% change H1 2021 – H1 2022)

Median House Price Jan – Jun 2022

$450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0

18 16 14 12 10 8 6 4 2 0

Number of Transactions

GRAPH TBC

2.5

$250,000

2

$200,000

1.5

$150,000

1

$100,000

0.5

$50,000 $0

$465 (+14%)

0

Number of Transactions

Median Weekly Rent Jan – Jun 2022

Median Price

Dwellings Leased and Rents $600

GRAPH TBC

Average Days to Sell Jan – Jun 2022 Source: Settled Sales sourced from Landgate, Online Property Listings from Domain, Vacancy Rates from SQM Research

Median Price

$500

102

Number of Transactions

$300,000

$400 $300 $200 $100 $0

Dwellings Leased

9 8 7 6 5 4 3 2 1 0

Number of Transactions

Median Unit Price Jan – Jun 2022

Median Price

Unit Prices

Median Price

$235,000 (+31%)

Number of Transactions

Median Price

$299,000 (-22%)

House Prices

Median Weekly Rent

47

West Lamington SUBURB OVERVIEW

Residential Market Trends, 2012 - 2022

(% change H1 2021 – H1 2022)

Median House Price Jan – Jun 2022

$450,000 $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0

30 25 20 15 10 5 0

Number of Transactions

GRAPH TBC

Median Price

$350,000

4.5 4 3.5 3 2.5 2 1.5 1 0.5 0

Median Price

$300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0

$550 (+23%)

Number of Transactions

Median Weekly Rent Jan – Jun 2022

Average Days to Sell Jan – Jun 2022 Source: Settled Sales sourced from Landgate, Online Property Listings from Domain, Vacancy Rates from SQM Research

Median Price

Dwellings Leased and Rents

Median Price

$700

43

Number of Transactions

Unit Prices

$230,000

Median Unit Price Jan – Jun 2022

Number of Transactions

Median Price

$369,000 (-2%)

House Prices

GRAPH TBC

14

$600

12

$500

10

$400

8

$300

6

$200

4

$100

2

$0

0

Dwellings Leased

Median Weekly Rent

48

Number of Transactions

Key Statistics

Data Sources Used to Inform Summary The table below lists the key data sources used to inform this report.

Other data sources used in the commentary of this report have been referred to in the report text.

Dwelling Sales Volumes and Prices

Data sourced from Landgate. Landgate is Western Australia's land information authority. Sales and price data is based on settled sales data as reported to Landgate.

Vendor Discounting, Average Days to Sell

Data sourced from Landgate.

Median Rents, Dwellings Leased, Median Days to Lease

Data sourced from Domain, based on dwelling listings recorded by Domain.

Dwellings Listed and Rental Vacancy Rate

Sourced from SQM Research, based on SQM Research’s monitoring of properties listed on major listing websites against the established dwelling volume as of the 2016 ABS census.

Building Approvals and State Lot Activity

Building Approvals sourced from the Australian Bureau of Statistics. Statistics on the value of building work approved are derived by aggregating the estimated 'value of building work when completed' as reported on building approval documents provided to local councils or other building approval authorities.. State Lot Activity sourced from the Western Australian Department of Planning, Lands and Heritage (DPLH).

Average Household Size, Income, Mortgage Repayments

Data sourced from the ABS Census for 2016.

Tenure and Landlord Type

Data sourced from the ABS Census for 2016.

49

gedc.wa.gov.au Kalgoorlie (08) 9080 5000 | Esperance (08) 9083 2222 | info@gedc.wa.gov.au Connect with us

As publishers of this report, the Goldfields-Esperance Development Commission makes every reasonable effort to ensure the accuracy of all information in the report. Nevertheless, we are unable to guarantee the accuracy of all information contained. We take no responsibility and will not be liable either in contract for negligence or in any other way for any errors, act or omissions, which may occur in relation to the report.

50