Wagin cheapest for houses
Wagin is the cheapest place to buy a house in regional Western Australia, according to statistics from the Real Estate Institute of WA.
The median house price for Wagin based on sales in 2014 is $150,000, seconded by Merredin at $160,000.
Katanning is the third most affordable town to buy a house in the State, with a median house price of $175,000.
The average house price in Narrogin is $197,000 while Collie rounded off the top five most affordable towns to buy a property with a median house price of $219,500.
Wagin experienced an 8.3 per cent growth in house sales last calendar year, however Katanning slumped 9.1 per cent.
Narrogin also experienced a 1.5 per cent decrease in house sales.
Wagin's Joe Fanchi Real Estate sales consultant Carole Drayton said for $150,000, you would typically get a three-bedroom, one-bathroom, one-toilet fibro-and-tile house.
"We're affordable to the general public, with the banks a lot harder to get money out of after the ridiculous lending that went on a few years ago," she said.
Ms Drayton said the Wagin market was slow last year.
"There are not as many buyers on the run as there used to be, we're doing a lot of running but it's a lot harder to crunch them," she said.
Ms Drayton said she expected sales to pick up after Perth-based hay processing company Glimac announced it would open a facility in Wagin last month.
"A lot of retirees come here, there's plenty to attract the older generation," she said.
"But now we should see more families coming in when they get work. It's a real bonus for us."
Ray White Narrogin licensee Travey Brandner said Narrogin was an investor's paradise which had kept house prices competitive.
"That reflection is because we have had a major increase in investors coming to town and they are skilled at getting property that meets their criteria," she said.
"They buy property that fits their rental returns … that has made the average house price drop dramatically because we are selling a lot of property at a low price range."
"We get a great return for the dollar in our rental properties."
