Bargara Property Market Update 1st Half of 2021

In Q1 2021, Bargara and Coastal recorded a median house price of $436,000, and a median unit price of $410,000. This represents annual (Q1 2020 – Q1 2021) median price growth of 16.3% for houses and a significant 47.5% growth for units. Between Q1 2020 – Q1 2021 total sales increased, by 1.0% for houses (to 97 sales) and by 66.7% for units (to 35 sales). Median price growth alongside increased sales suggests real returns on capital investment in Bargara and Coastal. Now is the time to transact, particularly for owner-occupiers looking to benefit from a highly demanded market.

Average vendor discounts between Q1 2020 and Q1 2021 have tightened for both property types, to -1.5% for houses and -2.5% for units. Market conditions in Bargara and Coastal are shifting towards a seller’s market as buyers are willing to offer closer to the first asking price. This makes it a perfect opportunity for vendors to sell their home.

In March 2021, house rental yields in Bargara and Coastal were recorded at a healthy 5.3%. In the 12 months to Q1 2021, the median house rental price increased by 11.1% to $400 per week, with average days on the market declining by -20.1% (to 18 days). This places Bargara and Coastal as a strong market, with room for more investors.

2 bedroom houses have provided investors with +12.1% rental growth annually, with a median rent of $300 per week.

Also, in March 2021, Bargara and Coastal recorded a significantly low vacancy rate of 0.5%, which is on par with Bundaberg LGA (0.5%), but well below that of Brisbane Metro (1.5%). Vacancy rates in Bargara and Costal remained well below the Real Estate Institute of Australia’s healthy benchmark of 3.0% throughout COVID-19 and is at historical low. There is still an influx of rental demand in the area, creating a highly conducive investment market for investors.