South Bunbury is in the bottom 30% in WA when comparing median price capital growth over the last year. South Bunbury gave property investors a disappointing capital gain figure when compared to the rest of the state, with -10.12%.
South Bunbury,6230 was ranked 3300 in Australia by increase in median property value over the quarter.
Property investors looking for a bargain in South Bunbury should be aiming for at least -7.66% off the asking price, which is the average vendor discount being achieved at the moment.
With the median price for a house in South Bunbury being $373000 and the advertised rent reaching $340 the gross rental yield for property investors calculates out to be 4.74%
Property value increases in South Bunbury have tracked just higher than the WA average of -4.80% over the last 12 months.
South Bunbury,6230 was ranked 1046 in Australia by increase in median property value over the quarter.
State is the 2nd most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -7.58% offered to property buyers. Sellers in South Bunbury itself are offering an average vendor discount of -6.57% to real estate investors.
At number 1468 in a list of fastest selling suburbs, South Bunbury is in the bottom 10% of suburbs in Australia with an average of days on market 173.72 for properties listed there.
Using the current median advertised rental of $310 and the average annual increase in value of a median property of 0.55%, investors should hope to achieve an overall return of 4.88%
South Bunbury is a suburb in the port city of Bunbury, the third largest city in Western Australia, and is located 175km south of the state capital.Full summary
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South Bunbury is a suburb in the port city of Bunbury, the third largest city in Western Australia, and is located 175km south of the state capital.Close
Its port services the farming and timber industries of the south-west, and a twice-daily TransWA rail line connects the city to Perth.
South Bunbury is situated on the beach and several parks also lie in the area.
Regular buses service the suburb, and schools, child care centres, shops and a post office are also in operation.
More than just a family-friendly area, South Bunbury is quickly becoming a hot spot for property investors.
RP Data’s August figures put median unit prices in the area at an affordable $423,000.
Rental rates for the suburb also look positive, with gross rental yield sitting just under 5%.
The rental market is very tight with the vacancy rate sitting at just 1.73% according to realestateinvestar.com.au data.