Bund­aberg gets mar­ket boost

Buy­ers are get­ting more con­fi­dent as fig­ures show house sales rose 19 per cent in the Septem­ber 2014 quar­ter

The Courier-Mail - Property - - REALESTATE MARKET OUTLOOK -

BUND­ABERG real es­tate is on the verge of a re­nais­sance as buy­ers grow more con­fi­dent amid im­prov­ing mar­ket sen­ti­ment and a lo­cal econ­omy start­ing to show green shoots of re­cov­ery.

In­vestors and first-home buy­ers are play­ing an in­creas­ingly ac­tive role in the lo­cal mar­ket as a se­ries of key eco­nomic de­vel­op­ment projects gets un­der way.

An ex­pan­sion of the Port of Bund­aberg and the in­creased pres­ence of a num­ber of ma­jor re­tail­ers are fu­elling hopes of re­newed pop­u­la­tion growth as the city con­tin­ues to re­bound from the 2013 floods.

House sales vol­umes in Bund­aberg were up an im­pres­sive 19 per cent in the Septem­ber quar­ter 2014, the third high­est of any Queens­land re­gional cen­tre.

There was also dou­ble digit growth in acreage sales (10 per cent) as well as for apart­ment and town­house sales (13 per cent).

Av­er­age days on mar­ket crept up slightly in the Septem­ber quar­ter to 89 days, but they are still lower than the cor­re­spond­ing pe­riod last year.

Av­er­age ven­dor dis­count­ing was also slightly up at 7.6 per cent in the three months to Septem­ber, a full two per­cent­age points lower com­pared to Septem­ber 2013.

De­spite ris­ing sales vol­umes, me­dian house prices in Bund­aberg eased 5.3 per cent to $268,995 in the three months to Septem­ber 2014. This eas­ing trend is the re­sult of a ris­ing vol­ume of sales at the lower end of the mar­ket, par­tic­u­larly in the sub-$350,000 price bracket.

Lo­cal agents con­firm buy­ers are most ac­tive in the sub$350,000 price bracket, with first-home buy­ers and in­vestors eye­ing po­ten­tial cap­i­tal growth.

Ac­cord­ing to the REIQ’s price point data, sub-$350,000 sales were up 30 per cent in the Septem­ber quar­ter, with sales rel­a­tively steady in the $350,000-plus and $500,000plus price brack­ets.

Some sub­urbs recorded im­pres­sive price growth over the quar­ter, in­clud­ing Bund­aberg North (7.6 per cent), Norville (6.4 per cent) and Walk­er­vale (6 per cent).

Bund­aberg’s apart­ment and town­house mar­ket recorded a 13 per cent in­crease in sale vol­umes in the three months to Septem­ber 2014. The strong­est growth in sale vol­umes was at the lower end of the mar­ket, with sales more than dou­bling in the sub-$250,000 price bracket.

Sale vol­umes in the $250,000-plus price brack­ets recorded mod­est in­creases, how­ever, the con­cen­tra­tion of ac­tiv­ity at the lower end of the

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