Housing Supply Opportunities/Issues
By way of comparison, we present historical housing data in the town of Karratha. This data serves to support the feasibility of the contemplated development to be undertaken in Central Queensland.
Karratha & Dampier
The town of Karratha which adjoins the port of Dampier had a population of 11,728 at the time of the 2006 census* and along with Port Hedland are the region’s biggest towns.
Median house prices in Karratha have a strong correlation with the mining activity which accelerated in 2003/04. As depicted in the following graph, during this period, the strong housing demand has resulted in the median house prices far exceeding those in the state’s metropolitan areas *.
The median house price in Karratha in the December quarter of 2010 was $950,000. This is up to the same quarter of 2003**.
*Australian Bureau of Statistic, 2006 Census Quick Stats: Karratha (Urban Centre/Locality), October 2007
+ Landgate, House Sales Statistical Analysis, February 2011