Broome Property Market Update 1st Half 2026
Broome is a picturesque town in the stunning Kimberley region of Western Australia known for its natural beauty and rich history. With a unique blend of cultures, a vibrant community and warm tropical laid-back atmosphere, Broome is an ideal place to live.
Property Trends
In Q4 2025, Broome recorded a median house price of $812,000, and a median unit price of $470,000. This represents an annual (Q4 2024 – Q4 2025) median price growth for houses at 3.8% and 9.3% for units. Total sales decreased between Q4 2024 – Q4 2025, by -46.3% (to 43 for houses in Q4 2025) and by -52.0% for units (to 12 sales in Q4 2025). Price growth alongside a smaller number of sales suggests an undersupply in the market, for houses and units. This creates an opportunity for owners, to capitalise on their investments. For buyers, with almost no new stock in the pipeline, now is an ideal time to act; before there is further price growth.
Project Development
Broome will see approximately $99.6M of new projects commencing construction in 2025–2027. 154 Frederick Street Health & Wellness & Child Care Centre ($6.1M) is a main mixed-use project commencing. At present there is very limited new residential project planned, thus very few new housing stock. This will cause a further undersupply in the housing market and push property prices even higher.
Rental Market & Growth
House rental yields in Broome were 6.9% in December 2025, which is quite like Broome LGA (7.5%) but higher than Perth Metro (3.8%). This was paired with a 12.8% increase in median house rental price in the past 12 months to Q4 2025, at $1,000 per week. The number of houses rented also increased, by 14.0% in the past 12 months, to 65 rentals in Q4 2025. This suggests a highly demanded rental market in Broome. A similar trend was seen in the unit’s rental market, which is beneficial to investors seeking a slightly more affordable option to Perth Metro.
Vacancy Rates & Property Investment
Broome recorded a vacancy rate of 1.1% in December 2025, lower than the Broome LGA’s 1.5% but slightly higher than Perth Metro 0.7% average. Vacancy rates in Broome have declined slightly in the past 12 months to December 2025, indicating a tighter rental market. Moreover, a 1.1% vacancy rate is significantly below the Real Estate Institution of Australia’s healthy benchmark of 3.0%, suggesting quicker occupancy of rental homes. Overall, this presents a conducive environment for investors, even if median house and unit sales prices (thus, entry price) have increased in the past 12 months to Q4 2025.
