With nearly one third of Australia’s landmass, Western Australia has plenty of room to accommodate the steadily growing population. In the property market, WA has been performing very well, with a growth of 6.3% over the last 12 months, leaving median house prices at an impressive $510 thousand. In the always beautiful state capital, Perth, on the banks of the Swan River, annual unit prices have remained steady, whereas house prices have taken a small dip. Further along the coast to the north, the diverse mining town of Karratha has interestingly sold just one property in the last 12 months. This is likely to keep real estate fees relatively high, as the agent population in the town is low.
The government has left real estate agent fees unregulated in the state, giving agents the chance to charge a fee based on their perceived value. This is likely to affect regional and rural communities, like inland Paynes Find, just north of Lake Moore, where lower properties prices and a scarcity of agents cause a rise in real estate fees, ensuring a worthwhile sale.
| State | Average Commission Rate |
|---|---|
| ACT | 2.14% |
| NSW | 2.02% |
| NT | 2.55% |
| QLD | 2.58% |
| SA | 1.96% |
| TAS | 2.73% |
| VIC | 2.02% |
| WA | 2.35% |
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