Bundaberg
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Bundaberg Property Market Update 2nd Half of 2019

In Q3 2019, Bundaberg recorded a median house price of $243,000, and a median unit price of $177,000. This represents annual (Q3 2018 – Q3 2019) median price softening of -3.0% (house) and -14.5% (units). However, between Q3 2018-Q3 2019 total sales have increased, up by 1.0% for houses (to 144 sales) and by 4.5% for units (to 23 sales). The market is heading into a recovery as demand is starting to pick up, which will push up prices in the near future.

In Q3 2019, Bundaberg recorded a median house price of $243,000, and a median unit price of $177,000. This represents annual (Q3 2018 – Q3 2019) median price softening of -3.0% (house) and -14.5% (units). However, between Q3 2018-Q3 2019 total sales have increased, up by 1.0% for houses (to 144 sales) and by 4.5% for units (to 23 sales). The market is heading into a recovery as demand is starting to pick up, which will push up prices in the near future.

Average vendor discount between Q3 2018 and Q3 2019 has tightened for houses to -5.5% and widened for units to -10.2%. Market conditions in Bundaberg continue to favour buyers, where sellers are willing to negotiate below their initial listing price. Now is the time to enter the market and take advantage of the discounted housing stock in the area.

Over the past 12 months, house rental yields in the Bundaberg significantly increased, to reach 5.0% in June 2019. This suggests the house rental market is at a healthy position, as the average days on the market has declined from 28 days to 23 days over past 12 months to Q3 2019. Investors are encouraged to take this opportunity to invest in Bundaberg.

2 bedroom houses have provided investors with +3.8% rental growth annually, achieving a median rent of $270 per week.

Bundaberg recorded a low trending vacancy rate of 1.0% in June 2019, well below Bundaberg LGA (2.3%) and Brisbane Metro (2.5%). This indicates there is a healthier rental demand in Bundaberg, with quick occupancy of rental properties.

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