With a capital gain of -9.13% for the last 12 months, Bunbury, 6230 has performed for property investments than its average annual -2.73% property growth over the last 5 years.
Taking the average capital gain, or increase in median house value, Bunbury,6230 has racked up an average of -9.13% over the period. This ranks it number 3857th in the whole country for real estate investors looking at median house price increases.
State is the most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -8.23% offered to property buyers. Sellers in Bunbury itself are offering an average vendor discount of -8.61% to real estate investors.
Property investors should expect to get $380 weekly from the median priced house in this suburb.
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 -21.24%.
Bunbury,6230 was ranked 1337 in Australia by increase in median property value over the quarter.
The most recent median price for Bunbury is $348500, with sellers offering an average of -8.43% off the asking price.
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.