Newsletter for the Rotary Club of Greater Geraldton - Issue No.: 780 Issue Date: 15 Apr, 2024

GUEST SPEAKER: Real Estate guru and Collingwood HB flanker (it rhymes…) the flying Pole Peter Sukiennik.

Real Estate in Geraldton is down.

A house that is worth $500,000 will only bring you $300,000

Sales are the same as last year, but the prices are the lowest they have been in thirty years.

It is a buyers’ market.

There is some recovery in Port Hedland and Karratha, a similar outcome is at least 12 to 18 months away in Geraldton.

Commercial, industrial, retail and office space is at lowest point ever accompanied by highest vacancy rates ever (e.g) SGIO building is half empty. There doesn’t appear to be anything that will change this scenario. In this financial environment small business is hard pressed to survive i.e. Where once there were three business now there is one.

Questions from K Stokes – residential rentals: I Johnson – ALDI impact; D Bruce – good time to buy; P Pirrottina – retail properties; L Dines – small business revival; I Taylor – negative gearing

Guest Speaker thanks by Marilyn Manson, Michelle Monroe and M&M.