IN BRIEF

The housing and land markets have experienced strong growth, with an average annual capital growth of 19.5% and 14.7% recorded.

The unit market should see sustained growth as it becomes an affordable alternative to owning house and land.

Broome’s vacant land market has experienced solid price growth at 11.1% per annum over the last five years.

Confidence

Macroeconomic Climate

Equities & Commodities Prices

Housing Prices

Dwelling Market

Demographics

Housing Finance & Labour Market

Retail trade & Petrol Prices

Binningup is a beautiful unspoiled seaside hamlet 79 kilometres south of Mandurah and 27 kilometres north of Bunbury, bordered on one side by farmlands and Tuart forest and on the other by a majestic beach. The nearby cities of Bunbury and Mandurah are currently enjoying the benefits of huge population growth. The newcomers are drawn by the relaxed lifestyle and employment opportunities in the surrounding regions. However, in the eyes of many these cites have now lost the charm they once had of safe communities with little traffic and a slower pace. Towns like Binningup make a very convenient and attractive alternative for families to grow and play in a secure environment with a lush golf course, great beach and sociable country club. West Australians are bound for the ocean and spaces close to the beach are getting harder to find.

For the purpose of this report, the Broome area refers to the local government area of the Shire of Broome, which includes the residential localities of Broome, Cable Beach and Djugun. Broome is located on the north west coast of Western Australia. The town grew out of the discovery of the world’s largest pearl shell and much of its population base stems from a range of nations whose people came in search of pearls and fortune.

Broome area includes the residential localities of Broome, Cable Beach and Djugun (Roebuck Estate). Research indicates that the Broome area’s market for houses, units and vacant land remained relatively healthy during the September 2004 half year. The market performed moderately well in relation to price growth however declines in sales activity were recorded across the board.