Karratha and Port Hedland property prices still tanking: SQM
Karratha was one of the first mining towns to slump when the mining boom began to fizzle back in 2012-2013.
Property prices in the West Australian port town have been in decline ever since and new data from SQM Research indicates that there is no sign of a resurgence.
SQM's Louis Christopher took a look at the latest charts and saw little sign of short-term hope for the mining town's property investors.
"The update shocked me," Christopher said in the firm's latest update.
"House prices are still plunging there, with no sign of a bottom, as this SQM Research chart reveals."
It's not just property prices that have taken a hit form the end of the mining boom. Rental prices in the region have also fallen in Karratha.
"The rental market is no better," Christopher said.
Christopher said that other mining towns in the region are faring little better, analysing conditions in Port Hedland.
"It is no better in Port Hedland either, where asking prices for properties have tanked," he said.
