Over the last year, property investments in Bunbury, 6230 have given investors a capital gain of 3.68%. This compares very favourably with the -4.99% for WA as a whole.
Bunbury,6230 was ranked 1164 in Australia by increase in median property value over the quarter.
The most recent median price for Bunbury is $535000, with sellers offering an average of -8.27% off the asking price.
At number 3455 in a list of fastest selling suburbs, Bunbury is in the bottom 10% of suburbs in Australia with an average of days on market 136.96 for properties listed there.
A $380 per week rent on the median house gives suburb investors a gross yield of circa 3.69%, without taking into account capital value appreciation, which has been averaging out at -0.33%.
If you compare the increase in value of investment property in Bunbury, 6230 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this WA suburb was -8.64%.
Taking the average capital gain, or increase in median house value, Bunbury,6230 has racked up an average of -8.64% over the period. This ranks it number 1533th in the whole country for real estate investors looking at median house price increases.
Sellers are offering property buyers an average discount of -9.77% to buyers in Bunbury at the moment, which is less than average for the rest of WA.
Renters in Suburb are facing rents around $4020 per annum or $335 every week.
Bunbury is one of the bigger regional towns in Western Australia, and a number of industries support the local region’s economy, although construction and manufacturing industries are the highest employers in the area.Full summary
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Bunbury is one of the bigger regional towns in Western Australia, and a number of industries support the local region’s economy, although construction and manufacturing industries are the highest employers in the area.
Bunbury is also seeing infrastructure investment with road and rail upgrades, and the opening of the $1bn Southern Seawater desalination plant 20km north of the city at Binningup is expected to spur employment growth in the region.
“As the commercial hub of the south west of Western Australia, Bunbury has a large, expanding residential population and substantial employment opportunities,” says Charles Tarbey, founder and chairman of real estate agent Century 21.
“Growth is expected in both population and employment over the next ten years as the continued global demand for resources supports the area’s mining and primary industries – likely resulting in an increasing need for residential housing.”
Indeed, the forecast long-term growth for the areas is 3.4% per annum: while growth has been subdued over the last year, this soaring population is likely to boost demand, rental yields and capital growth alike.