As the festive season is in full swing, holiday houses are booked out, and many people begin reflecting on potential career moves as they unwind during the holidays. The popular Christmas hotspots of Dunsborough, Busselton and Margaret River are set to welcome a surge of prospective buyers exploring retirement or lifestyle opportunities.
Dunsborough-based REIWA Regional Spokesperson Joe White highlighted the enduring appeal of regional WA's lifestyle, which continues to attract families and retirees.
“A lot of people migrate south for their holidays, often scouting for a place to retire and escape the 45-degree heat,” Mr White said.
“Down south, agents are fielding enquiries from buyers interested in finding out more about the schools, health and social infrastructure. Many are seeking properties close to the beach or with extra space to enjoy a relaxed lifestyle.”
Evolving buyer profiles and regional shifts
The South-West’s popularity has been bolstered by the Busselton Airport, enabling fly-in, fly-out (FIFO) workers to enjoy a regional lifestyle. Coupled with the shift to remote work post-COVID, coastal towns are seeing more interest from families and retirees looking to make permanent moves.
“The dominant buyer profile now is 50 to 60-year-olds purchasing properties with a view to retiring in the future,” Mr White said. “While these buyers may present as holiday home seekers, they’re often planning a permanent sea change or lifestyle shift down the track.
“Holiday home buyers are still there but they used to be couples with solid professional jobs, aged 35-45 with kids so they could secure a permanent holiday location but those jobs just don’t provide enough income for that sort of luxury these days, so it is now the domain of a higher income echelon.”
Mr White said there hadn’t been any change in the type of properties in demand.
“The single biggest demand remains for high-specification four-bedroom, two-bathroom homes close to schools and facilities,” he said.
Bunbury emerged as the top-performing regional centre for the September 2024 quarter, with its median house price rising 6.7 per cent to $555,000. Over the year, it recorded an impressive 24.2 per cent growth in median prices. Bunbury’s median weekly house rent is $600 per week, a fair bit cheaper than Busselton’s $740 per week.
“It is also very affordable when compared to Busselton and Dunsborough,” Mr White said.
“Our members are reporting an increasing number of buyers who are finding these areas out of reach and are looking at Bunbury instead.”
The $650,000-$800,000 price range is currently the most active, although buyers are displaying increased price sensitivity following the recent growth in values.
Challenges in the regional market
Despite high demand in some areas, regional WA faces significant challenges in housing supply and affordability. Mr White pointed out that while rents have stabilised and vacancy rates are creeping up in some regional areas, the broader housing supply crisis remains a pressing issue.
“Last year, 80,000 people moved to WA, but we only built enough homes for just over half of them,” he said.
“A population explosion without adequate housing supply is a recipe for intergenerational poverty, and we as a society should be ashamed of it.
"The shortage has led to a bottleneck effect, where private rentals have become unattainable for many, increasing pressure on transitional housing and crisis accommodation."
Looking towards 2025
Mr White highlighted the need for systemic reform to address WA’s housing issues.
“All I want from Santa is a planning system and property taxation framework that work,” he said.
“Imagine a planning system where you could secure a building license in a week if you meet the parameters. That’s the kind of change we need to tackle this housing crisis.”
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