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GAME CHANGER: The newly developed Karratha Quarter is providing opportunity for small businesses in Karratha. Photo: LandCorp

Lower property prices good news for many in Karratha

A silver lining is emerging with regards to the fall in property prices in the state’s north-west, particularly in the resources hub of Karratha.

Falling rents and declining median house prices are creating new opportunities for business in Karratha, providing a boost of amenity in a town reeling from a near-half decade of overheated property values.

Since the peak of the market in 2010, the only stories emerging from the Pilbara have been ones of heartbreak, with median prices in the most affected market of Karratha plunging by 59 per cent since iron ore prices began their decline in 2012.

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