Profiles for Property in Geraldton

There are many opportunities to live in beautiful and well developed cities on the western coast of Australia, but one of the greatest is without a doubt Geraldton Heights Estate. Geraldton is located on the coast, surrounded by the bounty of nature and blessed with a booming and dynamic economy, due mostly to the large amount of natural resources present in the surrounding areas.Geraldton-Happy-Couple

This not only makes the city of Geraldton a wonderful place to live in, but also makes it a great option for real estate investors. The strong economy makes it a great place to settle, with excellent employment opportunities as well as offering a great rural lifestyle.

According to figures provided by the Australian Property Monitors (APM), the median price of a house in a Geraldton suburb is $370,000. This is among the lowest of housing costs of all major locations on the western coastline, only slightly higher than the median cost of a house in Rangeway, Spalding, and Utakarra. Most other cities like this have a higher price for property, usually more than $400,000 and some as high as $510,000.

In addition to being comparatively affordable, the population growth rate for suburban Geraldton has been substantial over recent years. In the past decade, the average annual rate of growth was thirteen percent, ranging from the low of ten percent to the high of over twenty percent. Of course, some of the suburbs have declined on the median scale, but overall, the city is growing quickly.

It is predicted that property prices in the local area will rise soon as a result of this population growth with land close to the City centre becoming more scarce. With a strong local mining industry as well as other various projects in the works to enhance the city, Geraldton is becoming increasingly attractive as an investment option.

For more information and questions about the property profile of real estate in Geraldton, talk to one of our real estate agents at 08 9965 7600.