Average price trends
685,000
Feb
675,000
Mar
665,000
Apr
What are the property taxes in Broome and are there any other ongoing costs I should consider?
In Broome, property taxes, known as council rates, vary by property type but average around $ 2,000 AUD annually. Additionally, homeowners should budget for water and sewage fees, averaging $ 1,400 AUD per year, and insurance. Maintenance and repair are other potential costs. It's key to consult local regulatory bodies for the most accurate and updated fees.
What types of upfront costs and fees will I have to pay when purchasing a property in Broome?
When purchasing a property in Broome, Western Australia, you'll likely encounter upfront costs such as stamp duty, settlement fees, legal fees, and possible building inspection fees. Stamp duty varies based on the property value, while legal and settlement fees can range in the hundreds to thousands of dollars. It's important to also consider any loan application fees if financing.
How does the Broome property market compare to ther regions in the Australia?
Compared to major cities, Broome's median property price sits around $ 530,000 AUD, significantly lower than Sydney's $1,410,133 AUD but closer to Adelaide's $ 667,000 AUD. This makes Broome an affordable option compared to Sydney yet slightly pricier than some other regional areas, thus offering a balanced market for potential homeowners or investors.
How competitive is the Broome property market?
The property market in Broome, Western Australia, is competitive, with rising demand influencing prices. As of 2023, the median house price stands at approximately $ 555,000 AUD, reflecting a substantial year-on-year increase. Properties in Broome, particularly waterfront homes, are highly sought after for their unique location and lifestyle offerings, frequently receiving multiple offers shortly after listing.
