Bundaberg|Bargara Property Factsheet 1st Half 2019
The property market of Bundaberg and Bargara, especially that of postcode 4670, recorded a median house price of $272,000 and $210,000 for units in Q1 2019. This represented an annual (Q1 2018-Q1 2019) price softening of -7.3% and -30.6% respectively. Compared to the Bundaberg and Bargara 2n half 2018 Research Factsheet, which reported an annual (Q3 2017 – Q3 2018) median price softening of -7.0% (house) and -16.0% (units), both houses and units is now more affordable.
In comparison, Bundaberg Regional Council (LGA) recorded a slightly higher house median price of $273,500 in Q1 2019, with an annual (Q1 2018-Q1 2019) softening of -9.6%. The unit market recorded a median price of $190,000 and an annual price softening of -32.6%. These figures suggest that both Bundaberg/Bargara and LGA markets have become more affordable, a large opportunity for first home buyers.
Over the past 12 months to Q1 2019, median house rental price recorded annual strengthening of 2.7% to $303 per week, whereas median unit rental price softened by -3.9% to $248 per week. Investors are currently benefiting from low average days on the market for houses at 22 days and units at 26 days. Vacancy rates in Bundaberg and Bargara were recorded at a low 1.3% as of December 2018, well below the Bundaberg Regional LGA vacancy rates of of 1.8% and Brisbane Metro vacancy rates of 3.2%. Investors are also benefiting from high rental yields for both house (5.0%) and units (5.4%) in the current Bundaberg and Bargara market.