Property value increases in Bunbury have tracked close to the WA average of -2.32% over the last 12 months.
A 0.81% growth in median value for property investors in Bunbury,6230 puts this suburb at number 160th in terms of best performing suburbs in WA
Bunbury, 6230’s gross rental yield is 3.96%
Property investors who have had real estate in Bunbury, 6230 should be unhappy with this WA suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -7.59%
The five-year average increase in median property values for Bunbury,6230 has given property investors a potential capital gain of -15.12% across each of those five years.
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.