Broome Property Market Update 2nd Half 2025
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 Q2 2025, Broome recorded a median house price of $780,000, and a median unit price of $405,000. This represents an annual (Q2 2024 – Q2 2025) price growth of 10.7% for houses and 12.5% for units. During this time, sales declined by -18.8% for houses (to 52 sales in Q2 2025) and by -46.7% for units (to 16 sales in Q2 2025). Price growth and fewer sales suggests an undersupply in the market for both houses and units. This is an opportunity for owners, especially unit owners, to capitalise on their investments. For buyers, with almost no new stand-alone houses in the 2025 pipeline, now is an ideal time to act before there is further price growth for all property types.
Project Development
Broome will see approximately $23.7M of new projects commencing construction in 2025. 154 Frederick Street Health & Wellness & Child Care Centre ($6.1M) is a main mixed-use project commencing. At present there is very limited 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 8.2% in June 2025, above Broome LGA (8.3%) and substantially above Perth Metro (3.7%). This was paired with a 26.3% increase in median rent price in the past 12 months to Q2 2025, at $1,200 per week. The number of houses rented remained steady at 35 rentals in Q2 2025, which suggests a highly demanded market. Median unit rent price rose by 46.2% to $950, but the number of units rented decreased by -22.2% to 14 units in Q2 2025. Thus, an undersupplied unit rental market. Overall, there is a need for more investors in the Broome rental market.
Vacancy Rates & Property Investment
Broome recorded a vacancy rate of 0.2% in June 2025, below Broome LGA’s 1.0% and Perth Metro’s 0.8% average. Vacancy rates in Broome have fluctuated in the past 12 months due to investors responding to interest rate changes. That said, it has declined in the past 6 months. This suggests a tighter rental market. Further, a 0.2% vacancy rate is significantly below the Real Estate Institution of Australia’s healthy benchmark of 3.0%, suggesting quicker occupancy of rental homes in Broome. Combined with high rental yields, this suggests a conducive and attractive investment environment.
