Norseman is the cheapest town in WA, according to recently released statistics from the Real Estate Institute of WA.

With a median house price of $25,000 in the year to September, the southern Goldfields town, about 720km east of Perth, is one of 23 WA places with a median house price of less than $100,000, according to REIWA statistics.

Norseman drew equal with the Wheatbelt town of Kondinin, closely edging out Leonora in third place with a median house price of $30,000.

Shire of Dundas president Jacquie Best described the low prices as a window of opportunity.

“There’s opportunities here for investment, especially with the mine coming online soon, with Sirius (Resources) and Panoramic,” she said.

“I was driving around this morning and there are some really derelict old houses that people obviously have bought and are starting to work on them — tidying up the gardens and putting fences on them.

“People are even moving back here to get jobs. I really think we are on the cusp of some real estate movement here.”

But the pool for properties selling for an average below six figures appears to be shrinking.

REIWA’s figures for the year to September show there are now 16 fewer towns where the median house price was less than $100,000, compared with two years ago.

McMahon Real Estate agent Simon Emmitt said cheap properties in the country were being snapped up by investors looking to cash in on high rental yields.

Mr Emmitt said that while a handful were bought by people who wanted a tree change, at least 80 per cent were bought by investors in Perth and interstate.


Median house prices, year to September:

Norseman $25,000

Kondinin $25,000

Leonora $30,000

Nungarin $35,000

Carnamah $45,000

Source: REIWA

© Kalgoorlie Miner

File picture: Norseman post office