Bundaberg

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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. 
<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%20west%20.jpg" alt="">
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j.ballantyne1990-6AQqhLzZaK

Bundaberg property market to continue to perform steadily: HTW residential 

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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. 
<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/bundaberg%20N.jpg" alt="">
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Bundaberg renovation activity slows down: HTW residential 

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A keenly contested bidding process saw two hotel investments owned by Coles in Queensland and Western Australia sell for a total of $13.22 million.
The Old Bundy Tavern in Bundaberg, Queensland, sold for $7.7 million to a  Brisbane-based family. The sale reflected a yield of 8.18 %. 
A Sydney-based doctor was the end buyer of the Victoria Park Hotel in Perth (pictured above) for $5.525 million - equalling a yield of 5.79%. 
CBRE’s Joel Fisher, Glenn Price and Ryan McGinnity, in conjunction with Billy Holderhead of Burgess Rawson handled the sale. 
The Old Bundy Tavern and First Choice Liquor outlet is leased to Liquorland for a 15-year term with five 10-year options. 
The refurbished hotel is on a 3,380 square metre site and includes an 886 square metre freestanding First Choice Liquor store. The hotel includes four bars, a large bistro, gaming lounge with 30 machines, function room and on-site parking for 28 cars. 
The Victoria Park Hotel also has a 15-year lease to Liquorland and features four bars, a function centre, underground cellar, drive-through bottle shop and alfresco area. 
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kjiminez-eaYKfU7qd2

Coles sells off two hotels for total of $13.22 million

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Queensland's Bundaberg, or Bundy, has had a pretty tough run since the global financial crisis and the 2011 and 2013 floods, and it appears property investors have been pretty wary of the market since these events.
The city, which has made its way onto the Minister for Agriculture, Fisheries and Forestry, John McVeigh's growing drought list last month, is a mixed bag.
PRDnationwide's research department has found that an $80 million investment from the state and federal governments into flood damage repair and prevention has pushed Bundy back into the property investing safe zone, where they note affordable homes are available around the $200,000 price point.
<blockquote>
But despite the temptingly low prices and green shoots of positivity, is it really stabilising and should you be buying there?
</blockquote>
But despite the temptingly low prices and green shoots of positivity, is it really stabilising and should you be buying there?
On the PRDnationwide team, research analyst Harrison Hall said that retail and civic investment was being seen, pointing to longer-term opportunities.
“Growth has been minimal to this stage with median house prices edging up just 2% per annum over the past two years and the level of sales transactions slightly down, but that is expected to change with the population forecast to expand by 20% over the next two decades and plenty of investors and new owner-occupiers looking to capitalise on the current low entry prices," said Harrison.
Meanwhile, their principal of an agency in the area, Ainsley Driver, said that it is the beginning of the brightest year they've had in a while with more stock being shifted, most within the $200,000 to $400,000 bracket.
“A year on from the floods and most property and infrastructure has been repaired,” he said.
But, despite the physical infrastructure being repaired, has the confidence and sentiment in property buyers been repaired?
According to RP Data, <a href="https://www.urban.com.au/news/nsw/6537-bundaberg-east-qld" target="_blank">Bundaberg East</a> saw a significant decline over 2012/2013, however has been steadily climbing back up again, while <a href="https://www.urban.com.au/news/nsw/6538-bundaberg-north-qld" target="_blank">Bundaberg North</a> is yet to show any signs of an improvement on their downfall.
<a href="https://www.urban.com.au/news/nsw/6539-bundaberg-south-qld" target="_blank">Bundaberg South</a> and <a href="https://www.urban.com.au/news/nsw/6540-bundaberg-west-qld" target="_blank">Bundaberg West</a>'s medians are holding steady.
In December 2013, a Newsmail investigation found that 18 small businesses had closed or not yet re-opened as a result of the January 2013 floods.
Despite this, there is still hefty interest in the region. The state government recently "called in" a development application for a proposed residential development at Bundaberg's Coral Cove from Austcorp. The development was approved in October 2013 by Bundaberg Regional Council.
Deputy premier Jeff Seeney recently called in the development.
“Austcorp’s proposed development at Coral Cove is in the ‘separation area’ of the existing Boral Quarry and the proposed Holcim Quarry,” Seeney said.
“We want to ensure that any development in this Key Resource Area is compatible with the type of extractive industry already existing or proposed for the area.”
A re-assessment is underway, and Seeney will determine whether the development will go ahead or not, having received a number of submissions. A decision is set to be made at the end of June 2014.
It also appears that real estate agencies are also starting to move more into the area. Raine &amp; Horne <a href="https://www.urban.com.au/news/26875-some-of-the-countrys-biggest-real-estate-agencies-are-in-expansion-mode" target="_blank">opened up an office on the Coral Coast, Raine &amp; Horne Bundaberg, late last year</a>.
Let's open it up to Property Observer readers.
{mijopolls 4}
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jduke-EHk3XBmHkn

Suburb spotlight: Is Bundaberg's market stabilising?

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Valuation firm Herron Todd White suggests investors are attracted to the Wide Bay region due to the affordability of land, houses and units in the area.
Their recent November review notes that interstate investors seem to be attracted to new stock in outer suburbs such as Moore Park Beach and Branyan producing housing around mid to high $300,000 and obtaining rentals of around $340 to $350 per week. 
"However, these houses when offered back to the market for sale to local purchasers are not achieving original construction prices."
Sales volumes have remained steady in 2015 but values have remained static with most activity being in the sub $350,000 range.
Rentals appear to be stable with a standard 3-bedroom timber house in Bundaberg averaging $260 to $290 per week and a 4-bedroom modern brick house averaging $345 to $370 per week.
Vacancy rates are at about 4%.
HTW detect confidence appears to be growing with the current low interest rates, federal government incentives and average vacancy rates encouraging both first home owners and investors to remain in the market during 2015. 
Its prior report noted houses that were previously flooded and now fully renovated were being sold in a strengthening market.
The prior reports also noted unit sales in the Bundaberg town area had been slow. Prices range from $107,000 for a 1-bedroom, 1-bathroom renovated unit from the 1970s to a circa 2005 3-bedroom, 2-bathroom unit with 2-car built-in garage for $300,000.
The main sellers are the 2- and 3-bedroom units that range from low $200,000 to $300,000 for the 3-bedroom units.
The construction of new unit stock was described as sporadic - mainly four pack complexes with some larger ones.
Median rentals range from $225 per week for 2-bedroom units to $280 per week for the larger 3-bedroom units. Yields are around 5% 
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Bundaberg new homes cheaper when sold back to locals by interstate investors: HTW

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Bundaberg city in Queensland had improved its position to approaching the bottom of market cycle -- both for houses and units -- from the bottom in April, according to valuation firm Herron Todd White's property clock for May.
HTW's property clock is a simple broad brush means of suggesting where property prices are and which direction they are headed to. The April report also mentioned fringe locations of cities and towns across Australia. Bundaberg was one of them.
The Bundaberg residential market is in a stable period, with quarterly sales volumes remaining relatively consistent since mid-2013.
The median sale price has similarly remained consistent at $269,000, with no change over the past year.
House listings increased over the past year, indicating that vendor confidence in the market is growing.
Bundaberg’s unit and townhouse market remains static with sales activity easing over last year’s September quarter.
Fringe locations, often known as the tree change locations, have experienced even further softening in the market with extended selling periods required to achieve realistic sales. Affordability and larger allotment sizes are the drivers towards these outer areas. These markets historically won’t change in the medium-to-long term until the coastal markets show a more positive outcome. 
Property Observer looked up some recent sales in the greater Bundaberg area around the median sale price of $269,000 on www.realestate.com.au.
1. A three-bedroom house at <a href="https://www.realestate.com.au/property-house-qld-walkervale-121766622" target="_blank">99 Lamb Street Walkervale Qld 4670</a> traded for $265,000.
<img src="/images/2016/05/31/image3.jpg" alt="" width="645" height="484"> 
2. A three-bedroom house at <a href="https://www.realestate.com.au/property-house-qld-kalkie-121594994" target="_blank">4 Swan Drive Kalkie Qld 4670</a> changed hands for $255,000.
 
 <img src="/images/2016/05/31/main.jpg" alt="" width="687" height="515">
 
 
 
 
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prateek24-ezbwHMbNAk

Fringes of Queensland's Bundaberg showing softness in property market: HTW

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ASX-listed Lantern Hotel Group is set to test Queensland’s regional market, with plans to sell the Central Hotel in Bundaberg as part of its divestment strategy.
The property would be sold via an expressions of interest campaign closing July 14. 
The hotel is on a 1,017 sqm landholding in Bundaberg CBD, and operated under a 3 am liquor licence. The hotel also includes 14 Gaming Machine Authorities.
The move to sell the Central Hotel in Bundaberg was in line with the firm’s strategy to divest non-core assets and focus on its NSW portfolio, said Lantern’s chief executive John Osborne. 
“The Central Hotel has been a passive investment for Lantern and is subsequently superfluous to our current business model,” Osborne said. 
The Central Hotel is being offered as a going concern, including both the business and property components. 
The listing follows a flurry of deal activity by Lantern, with the group recently placing the Cairns Courthouse Hotel on the market, apart from three successful hotel deals over the past nine months. 
CBRE Hotels’ Daniel Dragicevich, Glenn Price and Paul Fraser have been appointed to sell the property.
 
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Lantern to divest from Queensland’s Central Hotel, Bundaberg 

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In Queensland’s Bundaberg region you could buy land in a new estate and build the home of your choice within reach of the ‘lazy half million’ dollars, say valuation firm Herron Todd White in their July 2016 residential market report which analyses the property sector in the sub $500,000 range.
One can build a four-bedroom, two-bathroom home with a two-car built in garage at that price, the report claims. 
“Or if you prefer some more extras you could buy a three-to-four year old established home with a pool and a shed. Prices are steady and have been for the past few years,” say HTW. 
There have been a couple of sales of triplex properties or four at buildings that have been in the $500,000 to $600,000 range with returns around 6% to 7% for a mid 1990s brick complex. 
“If units are your thing, you could buy two two-bedroom units approximately 10 years old.” 
In short, the Bundaberg region is still a great place to live with great affordability for housing. 
Property Observer found a three-bedroom house at <a href="https://www.realestate.com.au/property-house-qld-bundaberg+central-122819314" target="_blank">1 McIlwraith Street Bundaberg Central Qld 4670</a> that recently sold for $155,000.
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Build a home of your choice for $500,000 in Queensland’s Bundaberg: HTW

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The Bundaberg macadamia industry is now the largest producer in Australia producing approximately 40 percent of the national crop.
Bundaberg has taken over from the Northern Rivers area of New South Wales, which produces just under 40 percent of the national crop, HTW Rural's latest report noted.
"The main advantage Bundaberg has is scale of operation with approximately 60 growers whereas the Northern Rivers has approximately 450 growers," it said.
Macadamia nut prices have been increasing for a number of years and were $5.09 per kilogram nut in shell last year and are expected to be $5.20 per kilogram nut in shell this year.
HTW last reported sale of a macadamia nut orchard in Bundaberg was for around $7 million.
Sales generally reflect a market value range of $35,000 to $40,000 per irrigated treed hectare. 
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jchancellor-FAypfDUnLy

Bundaberg region takes mantle as biggest macadamia producer

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Bundaberg’s residential market for both houses and units has remained flat with a slight reduction in values over the past 12 months with overall confidence being subdued, according to HTW’s February 2017 update.
The valuation firm says sales data indicates a contraction in the number of sales making it a buyer’s market at present. The rental vacancy rate has reduced from 6.3% to 4.5%.
“The Bundaberg economy has had a $10 million injection with the Bundaberg Sports and Community Centre and the Rubyanna Wastewater Treatment Plant being built,” the firm says.
“The Knauf Plasterboard manufacturing plant at the port is still under construction.
“As these developments progress, confidence in the market should lift throughout 2017.
“This year with confidence improving, we believe that we are in for some positive movements.”
A three bedroom house at <a href="https://www.realestate.com.au/property-house-qld-bundaberg+south-124529446" target="_blank">2 Wyper Street</a>, Bundaberg (above) has been listed for sale for $249,000.
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