Bundaberg

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The Bundaberg and Bargara markets are still going well despite COVID, according to the latest report from valuation firm Herron Todd White.
They found that, according to CoreLogic's platform, there have been five properties sold in 2020 for between $1 million and $1.5 million, and eight properties sold for $800,000 to $1 million.
These properties are diverse, ranging from prestige homes and units in Bargara, either in upmarket estates or oceanfront or with ocean views, to redevelopment blocks on the oceanfront along with two properties over one hectare improved with large dwellings. 
The high value sales figures were considerably less last year.
Catherine Kersnovske, a property valuer at Herron Todd White, says it will be interesting to see what eventuates as the weather warms up, with a number of listings over $800,000 in the area.
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Bundaberg prestige market sales volume grows: HTW

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The past few months have shown little evidence of declines in values in the Bundaberg region, according to the latest Herron Todd White (HTW) residential report. 
The valuation firm suggests in locations across the nation, the downtime delivered by isolation has spurned on owners looking to improve their assets through maintenance and upgrade. This month’s HTW report highlights where renovations are on the rise and the price points and outcomes those markets can expect.
The report notes properties are still being listed and sold and being refinanced.
This is due mainly to the limited number of COVID-19 cases in the region and hopefully with the recent easing of restrictions, this confidence should remain.
"We are very much like the Hervey Bay market when it comes to renovations," the valuation firm said. 
Bundaberg renovations have actively slowed over the past few months as consumers appear to be conserving their dollars. 
"Judging by the local Bunnings carpark, locals seem to be doing odd maintenance jobs around the house and yard instead of major renovations. Local builders have reported that the demand for new owner-occupier homes remains consistent," the valuation firm said. 
A renovated house in Walkervale has recently been sold for $220,000.
The home at <a href="https://www.realestate.com.au/sold/property-house-qld-walkervale-133800338" target="_blank">121 Barolin Street</a> (pictured below) comes with three bedrooms, sunroom, renovated gourmet kitchen and fully renovated bathroom. 
It also features new roof, new gyprock ceilings and low maintenance gardens. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/6/22/walkervale%20.jpg" alt="">
A current listing is a renovated two bedroom unit in Bundaberg South. 
The unit at <a href="https://www.realestate.com.au/property-unit-qld-bundaberg+south-133626926" target="_blank">1/46 George Street </a>(pictured below) has been listed for sale with over $169,000 hopes.
It features open plan kitchen and living area, private courtyard and single garage. 
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Bundaberg renovation activity slows down: HTW residential 

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The Bundaberg residential market has been a steady performer over the past number of years, according to a recent Herron Todd White (HTW) residential report. 
"We don't see that changing in a hurry," the valuation firm said. 
The valuation firm asked their valuers to give an educated outlook on the residential market in their service areas.
The report notes Bargara and the entire coastal strip are seeing some positive signs of investment which has the potential to fuel growth along the coast. 
There are a number of projects happening or proposed that should stimulate interest in the area, such as the redevelopment of the Bargara Hotel, a new tavern near the Stockwell shopping centre, a new eco-friendly residential development at Innes Park/ Bargara South and renovations to the Bargara RSL.
"We see the coastal strip as being the shining star in 2020," the valuation firm said. 
A four bedroom brick house in Bundaberg North has recently been sold for $277,000.
Located at <a href="https://www.realestate.com.au/sold/property-house-qld-bundaberg+north-130630258" target="_blank">32 Fairymead Road</a> (pictured below), the fully renovated home features open living area, modern kitchen and double carport. 
The property last sold for $160,000 in 2018. 
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2020/3/9/bundaberg%20north.jpg" alt="">
A current listing is a Bundaberg West three bedroom townhouse priced at $289,000.
Located at <a href="https://www.realestate.com.au/property-house-qld-bundaberg+west-133166554" target="_blank">1/6 Mulgrave Street </a>(pictured below), it comprises 3 bedrooms, open plan living area, modern kitchen and backyard. 
It is located close to private school, CBD, shops and transport. 
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Bundaberg property market to continue to perform steadily: HTW residential 

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The Bundaberg residential market has remained typically flat throughout 2019, according to the latest Herron Todd White (HTW) residential report. 
However, there seems to have been a lot of interest in the residential market with agents searching for more stock as they have exhausted most stock on hand.
This renewed enthusiasm comes after what was seen as a federal election win that appears to assist investors.
The biggest value residential sale in the region was a house at Bargara on the waterfront known as the Glass House.
Located at<a href="https://www.realestate.com.au/sold/property-house-qld-bargara-130342238" target="_blank"> 51 Woongarra Scenic Drive, Bargara</a> (pictured below), it sold to a local farming and banking identity for $4.12 million setting a new record for the area.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/11/25/bargara%202.jpg" alt="">
The house is an architectural masterpiece in a premium oceanfront location.
Placing an emphasis on beachside living, the Glass House is a multi-award winning architectural masterpiece of sophisticated style in a dream location.
It has five bedrooms, five bathrooms and parking for two vehicles.
The dwelling sits on a beach front property of 2,239 square metres fronting the sandy beach.
Bargara continues to be a sought-after location at the current time.
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Bundaberg residential market remains flat: HTW residential 

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There has been a moderate amount of sales of flats in Bundaberg over the past 18 months, according to a recent Herron Todd White (HTW) residential report. 
The valuation firm took a look at rental yields across the nation. 
"The sales range from an older style 1970s eight-bedroom, four- bathroom flat complex which sold for $550,000 with a weekly gross rental of $920, giving a gross yearly rental of $47,840 providing a gross yield of 8.6%, to a more modern on ground, circa 1994, brick, eight-bedroom, four-bathroom flats building which sold for $615,000 with a weekly rental return of $830 giving an annual return of $43,160 and a yield of 7%," the valuation firm said. 
The report notes the most recent sale was an on ground, circa 2018, brick flats building.
It provides eight-bedroom, four-bathroom accommodation for $965,000 providing a gross yearly rental of $60,320 which is a gross yield of 6.2%.
The REIQ residential vacancy rate for Bundaberg remains at about 1%.
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Residential vacancy rate remains at 1% in Bundaberg: HTW residential 

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A masterplanned seaside development in Bundaberg has put the call out for large home building companies around the country.
An application has been lodged with the Bundaberg Regional Council for the reconfiguring of the first 170 lots in the $2 billion Southbeach at Elliot Heads project, a 246 hectare estate which will include 3,200 homes.
The project is a joint development between Sydney-based Stan La Vin and local Manera family who have consolidated 31 farming land titles adjoining the township and estuary over 47 years.
Development has been in the pipeline since May 2007 with approval granted in August 2013.
It has already received 1,400 registrations of interest for house and land packages over the past 10 months including over a third of these from NSW and Victoria.
Mr La Vin said the development would require several large scale home building companies to realise its 10 year development timeline.
“Timing is everything and when we first received approval in 2013 we were adversely affected by the mining crash so decided to slow things down,” Mr La Vin said.
“We’ve been running an early-bird buyer campaign to gauge interest and have been overwhelmed by the response, so now we need to start building.”
The development, which is 20 minutes’ drive south of Bundaberg and a gateway to The Great Barrier Reef Marine Park, will include a shopping centre, bistro, healthcare services and schools.
It will also open up the 20 kilometre coastal strip from Elliott Heads to the established resort precincts of Coral Cove, Bargara and the international port township of Burnett Heads where a 273-berth marina is to be built by French constructor Poralu Marine with adjoining luxury resort and residential development planned.
Southbeach has been masterplanned by renowned Canadian-Japanese architect Brian Toyota.
Engineering, infrastructure and environmental services has been provided by consultancy firm Cardno.
House and land packages start from $395,000 with land sizes up to 700 sqm and a ‘nothing taller than a palm tree’ edict to preserve the visual appeal of Elliott Heads.
Sales are expected to begin soon with construction of the first homes anticipated to commence in the first half of 2020.
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Masterplanned Elliots Head seaside development seeking home construction companies

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A development site at Lot 206 Rifle Range Road, in the coastal Bundaberg suburb of Bargara, is set to be auctioned in September.
The 59300 square metre site is 3.8 kilometres from Kelly’s Beach, and 5 kilometres from the suburb’s commercial precinct.
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The block of land is designated as ‘Low Density Residential’ by the local council.
Ray White Special Projects Queensland agents Mark Creevey and Tony Williams are marketing the property.
Creevey said the location would appeal to developers.
It is speculated the adjacent Palm Lakes Bargara lifestyle resort intends could acquire the block.
Creevey expects an array of interested investors.
“'Low Density Residential' allows for other residential activities including dual occupancy dwelling, manufactured home estate (MHE), residential aged care facility and retirement facility (subject to council approval),” Creevey advised. 
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Bargara has expanded significantly in recent years, with substantial infrastructure investments in the area making it popular with tourists and retirees.
There are future projects such as the planned $3.8 million Hughes Road extension, and $5.68 million Bundaberg airport expansion.
The auction will take place on September 6.
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Bargara development site set for auction 

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The local residential market in Bundaberg is stable, which is a term frequently used to describe the area, according to Herron Todd White’s latest May report.
The property valuation firm says that sales volumes have slowed slightly with median values dropping slightly by around 5 percent.
“The median vacant land price is $150,000 for the postcode.
“The median house and unit prices are $295,000 and $225,000 respectively for the last quarter.
“Affordability is the big draw card to the area along with the proximity to the southern end of the Great Barrier Reef and the relaxed lifestyle.
“The key to getting the market to move upwards is attracting more people to the area with flights to other major centres apart from just Brisbane.
“This would then attract more investment and that would require more infrastructure spending.
“Another way would be for the government to include existing property in the First Home Owner’s Grant which would also stimulate the economy,” the report stated.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-qld-norville-125255794" target="_blank">57 Mimnagh Street</a>, Norville (above) has been listed for $229,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-qld-bundaberg+west-124161154" target="_blank">8 Adams Street</a>, Bundaberg West (below) has been listed for $235,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/19/8%20Adams%20Street.jpg" alt="">
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-burnett+heads-120435465" target="_blank">4 Scott Street</a>, Burnett Heads (below) was recently sold for $235,000.
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Similarly a three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-qld-bundaberg+south-125182738" target="_blank">17 Hargreaves Street</a>, Bundaberg South (below) was recently sold for $223,000.
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Bundaberg residential market stable: HTW

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An application has been filed in Queensland’s Supreme Court to appoint statutory trustees to sell the Don Pancho Beach Resort property at Bargara in Queensland, according to a notice for members on the resort’s website.
The matter will be heard by the Supreme Court in Brisbane on April 12. 
Located at Bargara, the white-painted, Mediterranean-style resort is positioned at the gateway to the Great Barrier Reef. It is part of the Bundaberg area.
The land area is 3,940 square metres and the zoning is medium density residential.
Rooms are priced from $88, according to the resort's website.
Members may be entitled to a share of the proceeds on the sale of the property, the note says. 
A resolution was passed by a majority vote of members at the Extraordinary General Meeting held on 11 May 2016 in favour of making this application. 
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Don Pancho beach resort in Bundaberg seeks trustees for sale

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Bundaberg has had an "extraordinary" quarter, with the quarterly median house price growing by 14.1 percent to $291,000, according to REIQ's latest report.
This brings the market back to almost where it was five years ago.
In 2011 the annual median house price in Bundaberg was $278,000, which is just 1.1 percent higher than the annual median house price today of $275,000.
The unit market has been somewhat volatile over the past 12 months and by December 2016 the quarterly median unit price, off just 28 sales, was $235,000 which is a market contraction of 6 percent.
Looking to the medium term data, Bundaberg unit prices in 2011 were 6.7 percent higher than in 2016.
A three bedroom house at <a href="https://www.realestate.com.au/property-house-qld-bundaberg+north-124934186" target="_blank">2 Kolan Street</a>, Bundaberg North (above) has been listed for above $250,000.
Similarly a five bedroom house at <a href="https://www.realestate.com.au/property-house-qld-bundaberg+south-124533606" target="_blank">12 Griffith Street</a>, Bundaberg South (below) has been listed for $260,000.
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