Newspaper article News Mail Bundaberg Qld.

The Right Time to Buy

Newspaper article News Mail Bundaberg Qld.

The Right Time to Buy

Article excerpt

Leah Kidd

REPORTER

THREE neighbouring suburbs are offering a combination of the cheapest median values and strongest rental yields in Bundaberg.

Real estate agents say suburbs such as South Bundaberg, Walkervale and Svensson Heights are attracting investors from all over Australia.

The rental yields of the three suburbs are around 6.5%, 1% higher than the Bundaberg average and well above the state average of 5.3%.

All three of the suburbs are also in the top-five cheapest in the region.

Synergy Property Specialists real estate agent Will Brelsford said now was the time to buy in the Bundaberg region.

"As much as we don't like to see it this way, it's a buyer's market," Mr Brelsford said.

He said the situation could be attributed to more people wanting to sell than those wanting to buy and a high demand for rental properties.

"It's definitely a good time to be buying in the area."

Mr Brelsford said investors were crunching the numbers and finding Bundaberg was the place to buy.

"We're cheap enough and we're getting strong rental returns for the area," he said.

"Bundaberg's getting a strong rental demand - it's obviously driving the rental prices up and giving investors their return."

Michael's Real Estate principal, owner and auctioneer Michael Dempsey agreed.

"Investors from all around Australia are investing in Bundaberg," Mr Dempsey said.

"While they were going to Gladstone and Mackay or Emerald and getting high returns on their rentals, they are now looking to Bundaberg.

"Because our median house price is so low and there is a strong demand for rentals."

Mr Dempsey said the "clued up" investors were looking at entry level properties.

"As you get at the bottom end of the market, you're getting fairly decent homes for around the $200,000 to $250,000, but still getting reasonable rent," he said. …

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