Newspaper article News Mail Bundaberg Qld.

Market Steady, despite Data Blip

Newspaper article News Mail Bundaberg Qld.

Market Steady, despite Data Blip

Article excerpt

THE Bundaberg market reported a surprising rise in vacancy rate data when the Real Estate Institute of Queensland announced its March quarter results.

REIQ CEO Antonia Mercorella said the results were disappointing in a market that was generally regarded as recovering.

"This result is unexpected, and it's rare that we are surprised, because the Bundaberg market has been tracking well for the past two to three quarters," Ms Mercorella said.

"We should remind people that this is only one quarter and it's not too concerning at this stage.

"Factors that can bring about a result like this include new rental stock being added to the market, which can happen when mining companies or large housing agencies make their stock available for rent after it has previously been occupied by workers for a period," she said.

"We've seen this in Gladstone and it's possible that something similar is happening here in Bundaberg," she said.

Bundaberg's median house price has held steady at $279,127 for more than 12 months and this is a good indication of stability in the market. …

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