MORAWA boasts the fastest-growing housing market in Western Australia, Australian Financial Review's Smart Investor magazine reports.
The Shire of Morawa ranked number one in Smart Investor's list of 100 WA suburbs and towns with high performing housing markets, and was also identified as a first homebuyer hotspot.
Morawa's median house price grew by more than 50 per cent during 2008, with a predicted growth rate of more than 10 per cent in 2009, according to Australian Property Monitors figures.
CEO Gavin Treasure said Morawa's housing performance was an encouraging sign for a small regional centre that had bucked the trend of a three per cent fall in WA median prices last year.
"Morawa has had a focus on economic development over the past four to five years, which is now beginning to bear fruit and has put the town in good stead to facilitate population growth," Mr Treasure said.
"The Shire has erected a number of dwellings in town to accommodate teachers, doctors and visitors, and we've had major successes in education, telecommunications, and water servicing as well.
He said the town was also in the enviable position of having the most modern and state of-the-art health services in rural WA.
Shire president Jim Cook said Morawa's housing growth has been driven by Gindalbie Metal's nearby Karara Iron Ore Project.
"Morawa is in a great position of potentially becoming a major subregional hub for the provision of services to the Karara Project," Mr Cook said.
"Through discussion and negotiation led from the Shire, Gindalbie has agreed to adopt a Buy Local policy," he said.
"The challenge now is to turn these opportunties into real benefits."
Dongara ranked ninth in the Smart Investor report, with 30 per cent growth in median house prices during 2008, while Waggrakine, came in at number 57 with 10 per cent growth.
View all of our Morawa listings in the For Sale section of our website.