Broome WA Property Investment

Median house price in Broome sits at $703,000 with 45 days on market and a 3.0% vacancy rate. This is a tenant-favourable market right now.

• Median house: $703,000 | Units: $400,000
• Gross yield: 7.0% | Net yield: 5.5%
• 5yr price CAGR: -0.4%/yr | 3yr forecast: 13.5%/yr
• Population: 3,797 | Owner-occupier rate: 39% | Affluence: Above Average

• Supply pipeline: Low — Price growth outpacing new supply, limited development pipeline

• Vacancy: 3.0% (stable) | Rental demand: Moderate
• Median weekly rent: $950/wk | Days on market: 45 (stable)
• Tenant market — vacancy elevated, negotiate hard on rent.

• Median nightly rate: $471/night | Occupancy: 39%
• Estimated annual STR gross: ~$67,841/yr
• vs long-term rent: $49,400/yr (+37% STR premium — factor in higher management costs)

• Broome Port Authority Expansion (under_construction)
• Great Northern Highway Upgrade - Broome Section (under_construction)
• Broome Regional Hospital Expansion (approved)
• Transport: Standard suburban transport access

If Broome maintains 3%+ annual growth and vacancy stays below 2.1%, median prices could reach $808,450 within 3 years with yields compressing slightly as capital values rise.

A market correction or interest rate shock could see prices in Broome pull back 10-15% from $703,000, with vacancy rising to 5.0% and rental yields softening as tenants gain leverage.

• Distance from CBD may limit long-term capital growth potential

• Esperance (WA): $558,387 median, 4.5% yield, 22.0% 1yr growth
• Halls Creek (WA): $550,000 median, 0.8% yield, 20.9% 1yr growth
• Waggrakine (WA): $681,672 median, 4.7% yield, 15.2% 1yr growth

Broome offers balanced fundamentals but does not present an urgent buying signal. The market is in a recovery phase with moderate vacancy risk. Monitor vacancy trends and price movements over the next 6-12 months. Only enter if a property can be acquired at or below median pricing with yields exceeding 7.5%.

• Entry range: $632,700 – $773,300
• Minimum gross yield to target: 7.3%
• Watch signal: vacancy dropping below 2% and days on market falling below 35

This analysis is for informational purposes only and does not constitute financial, legal, or investment advice. Seek professional advice before making investment decisions.