There are 63 for rent in Hedland and surrounding areas and 202 for sale, I agree the market has softened but I think it's important to quote numbers which omit properties under contract/offer/application. I've lived and breathed the Pilbara for many years now and kicking myself I missed purchasing in the original pre boom prices, ironically now that I have relocated elsewhere and the prices have come down I've been able to afford an IP in Hedland. There's definitely a lot of trepidation in the market at the moment which makes it a buyers market IMO. Currently negotiating on a  less than 12 month old 4×2 in a new subdivision returning $2700/wk in the next rent review which in my book isn't bad – even if rent prices dip the return will still solid and better than what I could find elsewhere in what I see as an area with a long term future. We'll see where negotiations land but looking like 1.1m with some conditions. I would definitely agree with some of the comments on a few other Pilbara threads on this forum – investors have to be careful to stay away from any OTP properties or Transportable homes posing as new builds, the latter unfortunately look new and shiny initially but deteriorate very quickly and local buyers tend to stay away/pay less for these, unfortunately investors continue to be sucked in. Also, if considering buying, question your REA about all the details of the property (including whether it was build on site or is a transportable), I won't mention names, but there is a particular agency in the area that is known to locals as misrepresenting properties for example advertising them as having a company lease when in fact it's rented by private individuals or listing with additional features (eg 6 park spaces etc) when this is not the case.

Sorry to come off so preachy in my first post I've been  reader for some time but have only just taken the leap to post given this is a topic/area of investing I believe I have some first hand insight into (more so than reacting to news reports ore prices etc). Admittedly I'm probably somewhat defensive of the Pilbara having been a 'local' for so long and seen the area go through many ups and downs and grow enormously. Personally I think the current conditions make it a good time to buy into the market but that's just my humble opinion – time will tell if I'm right (or wrong) I guess!