Broome Property Market Update 2nd 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 Q2 2026, Broome recorded a median house price of $860,000, and a median unit price of $560,000. This represents an annual (Q2 2025 – Q2 2026) median price growth of 8.9% for houses and 34.9% for units. Between Q2 2025 – Q2 2026 house sales have declined, by -49.3% (to 38 for houses in Q2 2026) and by -56.0% for unit sales (to 11 sales in Q2 2026). The house and unit markets are significantly undersupplied, which created a buffer against cash rate hikes in 2026. Thus, there is a continuing opportunity for owners to capitalise on their investments. With limited new housing stock planned to be built, more price growth is expected. Therefore, buyers should act fast.
Project Development
Broome will see approximately $110.6M of new projects due to commence construction between 2026-2027. The Sanctuary Village Over 55 Village ($64.0M) and 154 Frederick Street Health & Wellness & Childcare Centre ($6.1M) are key mixed-use projects for construction between 2026-2027. This will provide more amenities to residents and create new local jobs in the pre and post construction phases. At present, there are no new residential projects due to commence building in 2026 and 2027. This suggests there is a reliance on previous project builds and current available stock.
Rental Market & Growth
House rental yields in Broome were 6.4% in June 2026, higher than Perth Metro (3.6%). Median house rental price did see a slight -2.1% decrease in the past 12 months to Q2 2026, at $1,175 per week. The number of houses rented increased however, by 27.8%, to 46 rentals in Q2 2026. There is still high demand in the rental market in Broome, which is beneficial for investors looking for a more affordable investment option to Perth Metro.
Vacancy Rates & Property Investment
Broome recorded a vacancy rate of 0.6% in June 2026, on par with Perth Metro’s 0.6% average. Vacancy rates in the past 12 months have fluctuated but overall increased, due to more investors entering the market. That said, a 0.6% vacancy rate is significantly below the 3.0% benchmark, indicating quicker occupancy of rental homes in Broome. This is a conducive environment for investors, even with a higher median house and unit sales price (thus, entry price) in the past 12 months to Q2 2026.
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