Bundaberg residential market stable: HTW

The local residential market in Bundaberg is stable, which is a term frequently used to describe the area, according to Herron Todd White’s latest May report.

The property valuation firm says that sales volumes have slowed slightly with median values dropping slightly by around 5 percent.

“The median vacant land price is $150,000 for the postcode.

“The median house and unit prices are $295,000 and $225,000 respectively for the last quarter.

“Affordability is the big draw card to the area along with the proximity to the southern end of the Great Barrier Reef and the relaxed lifestyle.

“The key to getting the market to move upwards is attracting more people to the area with flights to other major centres apart from just Brisbane.

“This would then attract more investment and that would require more infrastructure spending.

“Another way would be for the government to include existing property in the First Home Owner’s Grant which would also stimulate the economy,” the report stated.

A three bedroom house at 57 Mimnagh Street, Norville (above) has been listed for $229,000.

Similarly a three bedroom house at 8 Adams Street, Bundaberg West (below) has been listed for $235,000.

A three bedroom house at 4 Scott Street, Burnett Heads (below) was recently sold for $235,000.

Similarly a three bedroom house at 17 Hargreaves Street, Bundaberg South (below) was recently sold for $223,000.