Domain research states Mid West first-homebuyers having to save an average of 40 months to afford deposit

Prospective first-homebuyers in the Mid West are having to save for almost 3½ years to afford a deposit to enter the property market. The average savings window blew out by five extra months in the year to December 2025, according to Domain’s 2026 First Home Buyer Report. In the Mid West, a couple aged 25-34 are having to save for an average of 40 months to have enough money for a 20 per cent deposit on an entry-level property. This compares to a savings period of 35 months in December 2024. The Domain report priced the average entry-level property in the Mid West at $450,000. In regional WA, the quickest opportunity for first-homebuyers to get a foot in the market is in the Goldfields with a savings time of 22 months. The longest wait is in Augusta Margaret River with an average period of 79 months — six years and seven months. Across regional WA, the time to save increased by four months over the past year. Despite government schemes to help first-homebuyers, Domain chief of research and economics Nicola Powell said property novices were being locked out of more markets than ever before. Those who found a way to enter the market were assuming greater financial risk than at any time in the past decade, Dr Powell said. “Interest rate cuts in 2025 offered some relief, but they weren’t enough to undo years of strong price growth and rising household debt. In many markets, affordability actually worsened even as rates fell,” she said. According to the Real Estate Institute of WA, Geraldton’s median house price rose to $571,000 in the December 2025 quarter — a jump of 3.8 per cent over three months, and 24.1 per cent over a year. It was the fourth-biggest quarterly jump for a regional WA market, behind Albany (up 5.5 per cent), Karratha (up 5.4 per cent) and Kalgoorlie-Boulder (up 4.4 per cent), and the second-biggest annual rise, trailing Albany (up 25.7 per cent). Geraldton’s median rental price of $550 a week remained unchanged in the December quarter. Over the year, it increased 5.8 per cent. REIWA said regional centres were continuing to record strong demand on the back of a low supply of established homes and ongoing issues with new supply. “Within Geraldton, there has been well-priced land available, but there are significant delays in getting a builder,” REIWA regional spokesperson Peta McKenzie said.