Geraldton retains the highest yield in the expansion set at 4.5%, with the smallest cashflow gap of the WA markets. The WA cycle has run the price from the $300s to $576k, but rental growth has tracked alongside. Agricultural export hub (grain port), RAAF Base Geraldton, and Mid West fisheries provide a diversified employment base. Slightly negative cashflow — not a yield play at current entry prices, but the most defensible yield profile among the 7 expansion markets.
Both rents (+7.1% pa) and prices (+8.8% pa) are running above long-run averages in Geraldton, alongside vacancy of 1.4%. Rental growth typically validates and leads price growth in supply-constrained markets. This combination indicates demand-driven conditions rather than speculative price inflation.
Geraldton has been flagged as a viable new residential construction market. New builds retain full negative gearing eligibility under the proposed 2026 policy framework, while existing property purchases face the July 2027 restriction. Verify specific site feasibility with a local builder, planner, and tax adviser. New build cost overruns in regional markets are a material risk.
Geraldton retains the highest yield in the expansion set at 4.5%, with the smallest cashflow gap of the WA markets. The WA cycle has run the price from the $300s to $576k, but rental growth has tracked alongside. Agricultural export hub (grain port), RAAF Base Geraldton, and Mid West fisheries provide a diversified employment base. Slightly negative cashflow — not a yield play at current entry prices, but the most defensible yield profile among the 7 expansion markets.
Slightly negative cashflow — moderate NG dependence. Small city with limited buyer pool. Agricultural economy carries weather and commodity sensitivity. RAAF posting rotations affect tenancy continuity. Data vintage 2026. Source: property.com.au median house. Verify independently before transacting.
4.7% yield at $572k = $27,040 annual rent vs $29,744 annual interest (80% LVR, 6.5%) = -$2,704 pre-cost. Slightly negative. Smallest cashflow gap in the expansion set. New builds eligible for NG retention.
Model estimates only. Not financial advice. Verify independently.
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