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Regional Real Estate Outperforms Capital Cities

Geraldton real estate developers reveal why Geraldton could be poised for a housing boom in the coming years.

Geraldton, WA, 28 July 2014 - A recent report that regional real estate markets, including Geraldton, had outperformed Perth for the month of May surprised a lot of economists across Western Australia, but not those in Geraldton. In fact, regional real estate markets outperformed capital cities in the Northern Territory, South Australia, New South Wales, Tasmania and Victoria as well as in Western Australia.

Superior Numbers

While the market flattened in most parts of Australia during the month of May, regional WA saw an increase of 2.38% for the best performance in Australia. Madeleine McErlain, Marketing Manager for 4Land Property Group, who are developing a master planned estate called Geraldton Heights Estate in Geraldton, is not the least bit surprised and continues to be excited at how lively the property market is in Geraldton.

According to Ms McErlain, “We love the Geraldton market because it represents the best of both worlds for first home buyers, young families, those who want a sea change and retirees.” The properties cost much less than they do in the capital cities, but are experiencing capital growth at a higher rate. Since even the most conservative estimate projects 42.8% population growth in Geraldton by 2026, we can’t see the growth rate going anywhere but up.”

4Land Property Group develops land estates in the Perth market and Geraldton Heights Estate is their first real estate venture in the regional areas. They have been very successful in the Perth market and are experiencing success in Geraldton that is similar to what they have achieved in Perth suburbs such as Pearsall, Munster and Mandurah.

Low Regional Prices

On the Geraldton Heights company blog, Ms McErlain recently noted that the median price of a home in Pearsall is $500,000 while it is only $360,000 in Geraldton. According to Ms McErlain, “We have helped many first home buyers and young families in the Perth market purchase homes when they thought they couldn’t. Sadly, though, we can’t help everyone in Perth because even with our low prices, Perth prices too many people out of home ownership.”

Ms McErlain continued, “In Geraldton, the entry threshold is much lower than in Perth, providing younger families and first home buyers more opportunity to break into the market and have their own homes. Better yet, once they buy in Geraldton, they will find that they experience much more capital growth than they would have in Perth because Geraldton is undergoing such a growth cycle.”

Investors Agree

Many Perth investors are investing in Geraldton property because they perceive the prospects for capital growth to be the best in WA. According to Ms McErlain, “Just as it is for young families, Geraldton real estate is attractive to small investors, too. They can enter the investment market for a lower price and their investments have the potential to experience a much higher percentage of capital growth.”

Ms McErlain concluded, “The Australian Dream is alive and well in Geraldton.”

Geraldton Heights Estate is a planned real estate community overlooking the Geraldton CBD and the Indian Ocean. For information on any property they have for sale, visit their website: http://www.geraldtonheights.com.au/ or give them a call on (08) 9301 4445.