Over the last year, property investments in Bunbury, 6230 have given investors a capital gain of -6.38%. This compares badly with the -2.18% for WA as a whole.
Over the longer term, Bunbury has seen property prices show investors a -15.38% return over the last 3 years. This is an improvement over the last 12 months
State is the most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -8.59% offered to property buyers. Sellers in Bunbury itself are offering an average vendor discount of -9.63% to real estate investors.
With a capital gain of -10.67% for the last 12 months, Bunbury, 6230 has performed for property investments than its average annual -1.45% property growth over the last 5 years.
The five-year average increase in median property values for Bunbury,6230 has given property investors a potential capital gain of -23.69% across each of those five years.
At number 16th of WA’s most discounted properties, Bunbury is in the bottom 30% of the state/territory when listing in order of most discounted to least.
With the median price for a house in Bunbury being $335000 and the advertised rent reaching $330 the gross rental yield for property investors calculates out to be 5.12%
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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.