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  #1  
Old 08-09-2008, 01:14 AM
DDD DDD is offline
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Thumbs up Bundaberg/bargara area potential??

hi folks,

this is my first post on this forum, but have been a reader for a while,

i have 2 IPs, in victoria

I am looking at the bundaberg/bargara area for my next possible IP, i understand there is infrastructure going in at, i think, moore park area.

Would like to know if anybody as invested recently here and the potential for investment, the location seems good 15mins to beach from bundy, as good population,

any infrastructure/development press releases recently?

why the houses are so cheap towards other coastal areas in QLD?

any info/views would be great:

DDD
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Old 08-09-2008, 08:29 AM
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http://www.bundaberg.org/business/statistics/
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Old 08-09-2008, 01:28 PM
APerry APerry is offline
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Hi DDD,

Bundy airport is being expanded and will start receiving jet flights next year. This will be very big for the area in terms of boosting tourism. The beachside suburbs are drasitcally undervalued compared to Bundy itself becasuse, for some reason, Bundy people prefer to live in town rather than near the water. This will not last as there is a net inflow of people into the area and everywhere else in Australia people prefer to live near the beach.l

Bargara is much more developed that Moore Park Beach, but I think Moore Park Beach has a lot more potential because it is a lot cheaper and has km's of beutiful sandy beaches, as compared to the large black bolders that cover the beach at Bargara. What MP needs is a supermarket, and there is a DA for a supermarket and 14 specialty shops. I think once this is built the township will go through massive growth.

Regards
Alistair
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Old 08-09-2008, 01:33 PM
pendo pendo is offline
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Latest news on Bundy Airport upgrade

http://www.abc.net.au/news/stories/2...06/2325564.htm
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Old 08-09-2008, 10:42 PM
DDD DDD is offline
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thanks folks for the replies,

to me this area even though it as had good growth over the last 5 years, is still undervalued comparing to other similiar areas up the QLD coast.

so, moore park beach as better beaches and cheaper than bargara and with a possible supermarket and shops to go in surely people will be attracted to this coastal spot.

is there any body who as bought recently around this area?

DDD
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Old 09-09-2008, 08:42 AM
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Yes.

I just finished a new house in Bargara last month. Close to the water.

The house was tenanted within 5 days of it being finished.
Yes it is cheap for a coastal area. And there are no coastal land releases left.

I visit this area about 6 times a year, as I have family living up there.
I checked out Moore Park again last time I was there.(July)
It seem a little remote, whereas Bargara gives the impression it is closer to Bundaberg. Nonetheless good 1800 blocks available for under 200k at Moore Park, within spitting distance of the beach.

I think this whole area will take off in about 5 years, particularly in view of the rapidly changing world we live in. With the diminishing supply of good farm land, agricultural areas will come into their own, spawning strong communities.

The region has 84k population growing at net 2.3%

Bargara has two great beaches without the black rocks.
Kelly's Beach along Miller St and Nielson Park to the north.

Coral Cove on the other hand has a glut of land available for future release, but not right on the Coast.

Have a look at google earth, and you will get a good overview.

cheers
pendo
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Old 09-09-2008, 11:18 AM
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DDD I am a RE agent in Bargara. A few observations about the area might help.

The "black boulders" are volcanic basalt rocks. The remnant of the volcano is known as the hummock and lies about 5km inland from Bargara. It also provided the rich red soil the cane farmers love.

Bargara is the main coastal village 13km east of Bundaberg and has a population of about 8000.

Res A land in Bargara is relatively close to the coast (most within 1km). The current planning scheme has not provided enough Res A land, in my opinion- (most central Bargara land is sold or being developed as house/land packages)

The shopping centre has been recently redeveloped and we now have Woolworths (and a set of traffic lights that increases my commute time to work to about 3 minutes)

There are big developments coming such as:

$60M redevelopment of the golf course club house and prop shop

More unit developments- absolute beachfront 3 storeys (about $1.1 M these days for 140m2 units) One just finished, another under construction now.

5 Storey oceanfront developments (2 under construction now- 500k +)

Another shopping centre for the southern part of town (approved recently)

Plenty of commercial/industrial in Bundy that seems to be going well.


Our recent amalgamation with Bundaberg City Council should be a positive for the coastal region (relatively good governance and some town planning differences)

(Bargara was formerly in Burnett Shire where residents were the only LGA in the state to actually welcome the amalgamation).

Bundaberg looks cheaper as its median is 282k and Bargara's is 360k but Bundaberg has some older suburbs and plenty of stock in the low to mid 200,000's. Newer homes in Bundaberg fetch about the same as at the coast.

Land here starts at around the mid 150's and runs to 250k for sewered residential land. Oceanfront/golfcourse etc is more if you can get it. One absolute ocenfront block (Res A) of 800m2 is for sale (another agency) for 950k.

House and land package in a good location is going to be around 400k (4/2/2)
Rents are climbing but yield buyers should look elswhere (an average 3/3/2 house worth 340k would rent for 280pw)

I think there is good potential in the area. We are "on the map" now and most of the coast around us is more expensive. Many retirees come here and there should be plenty to come.

My own real estate investments in Bargara have performed exceptionally well and financed my "escape" from teaching.

(eg old fibro, 1028m2, 2 blocks from the ocean and the village centre: paid 82k in '99 most recent val ('07) was 450k (from a valuer not a dodgy RE Agent). Minor refurb only and a 5k shed.

These days it is more important to "buy well' and to know what is coming.

I would go for a location where there is no more land available (central or beachside Bargara). Buy for the position and potential and add value to the house. It all depends on what you want as an investor.

Pendo is right about Coral Cove and its oversupply and while I prefer Bargara
I bought an IP at Coral Cove last year because:

1. it was a bit cheap
2. 100m to the ocean and the golf course
3. (limited) ocean view down the street that could be enhanced with a deck 4. foreshore redevelopment planned by austcorp for the Barolin rocks, an excellent dive spot (150m away)
5. possibility of a beach around the corner

(I had a reval at 60k more than I paid without 3, 4 or 5 occuring).

All of which is observable or ascertainable if you do your due diligence and know the market.
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Old 09-09-2008, 11:30 AM
karina karina is offline
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Hi Fatboy,

Can you give us an update on Elliott Heads as well please?

thanks in advance.
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  #9  
Old 10-09-2008, 04:16 PM
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Quote:
Originally Posted by DDD View Post
hi folks,

this is my first post on this forum, but have been a reader for a while,

i have 2 IPs, in victoria

I am looking at the bundaberg/bargara area for my next possible IP, i understand there is infrastructure going in at, i think, moore park area.

Would like to know if anybody as invested recently here and the potential for investment, the location seems good 15mins to beach from bundy, as good population,

any infrastructure/development press releases recently?

why the houses are so cheap towards other coastal areas in QLD?

any info/views would be great:

DDD


Hi DDD,

Welcome to SS

I'm not familiar with WA so cant you give you a good comparison to your area
but we've held 3 properties since 2002 in the Moore park area
Prices have obviously risen considerably since then but the feel of place hasn't
Nor has the feel of Bagara and Bundy.

Strangely enough the country folk seem to prefer the big smoke
and to them that is Bundy.They dont want to drive too far.
It's odd as the summer temperatures are 5 degrees colder and 5 degrees warmer nearer the ocean.
So for the moment, Bundy will rent quicker and for a bigger amount of $$$

Bagara has bigger developments closer to the foreshore with multilevel highrise buildings
If you like walking along the esplanade on a boardwalk then that's the place for you.
Fatboy mentions two beaches, but they aren't huge and rest of the foreshore is all volcanic rock
Also it's the Coral sea, so there is no huge waves crasing onto these rock, sure it looks nice but not spectacular with big swells crashing on the rocks.
It would be perfect if it was further north where you are resticted because of stingers and crocs
but this is in area where you can swim safely all year round.

Mon repro has a sandy beach which is not to far away but it is restricted as it the beach where most of the turtles go.

Personally I prefer Moore Park Beach's lifestyle as it's a quiet undisturbed town
No huge buildings, I believe the limit might be three storeys.
20 minutes to all hospital, airport, bunnings and other shopping you may need.
The almost north facing beach is all sand... 15 klm without a rock in sight
A sunrise instead of a sunset which will be a new experience for you.
and although they don't get spectacular waves they are still strong enough to do a bit of bodysurfing

There are some daggy houses in the older part of town nearer the caravan park
but most of the area has relatively new housing.
There is quite a few different new estates that have been developed and they range in size from the standard block.
acre blocks on the foreshore and 5 acre farmlets and quite a few different sizes in between.
Some really impressive forshore dwellings as well.

The foreshore has a green belt area/reserve in front of the properties
as well as conecting walkways to the internal green corridors

Rents aren't great, but have moved up just recently.
Buying up a forshore place doesn't get you executive rental as the demands aren't there.
Dont know if this is also the case in Bagara.


Buildings will be a little higher in cost to build
all houses north of the river in Bundy need to build cyclone proof.
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Old 11-09-2008, 08:54 AM
APerry APerry is offline
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Quote:
Buildings will be a little higher in cost to build
all houses north of the river in Bundy need to build cyclone proof.
This is very true, also the local builders don't inspire too much confidence. We have sold 3 H&L packages in our development in MP, these are in constructiuon at the moment, but sold the rest as land because of this. We have actually relocated a builder to Moore Park specifically to build for people who purchase blocks in Majestic Palms Estate. Just organising the first 5 to be built at the moment, all 4/2 with a build cost of approx $200K each.

Regards
Alistair
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  #11  
Old 12-09-2008, 01:47 PM
fatboy4 fatboy4 is offline
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Quote:
Originally Posted by karina View Post
Hi Fatboy,

Can you give us an update on Elliott Heads as well please?

thanks in advance.
Pretty quiet market there at the moment Karina. Inquiry is down- the interest rate cut should help along with the spring season and school holidays.

Only 8 house sales so far (keep in mind a two month lag in data) and the median is up 0.7% to 326k. Last year there were 29 sales (houses).

A place on the Esplanade (huge but needs "TLC") on the market for 425k.
id 105022844 (uc recently) Seemed a bit cheap.
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Old 12-09-2008, 03:23 PM
karina karina is offline
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Thanks for the update on elliott heads fatboy.
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Old 18-12-2008, 12:19 PM
APerry APerry is offline
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For those that are interested I've uploaded a brochure from our development at Moore Park Beach. We have only just released blocks to the public, although there are several Somersoft members who are proud owners of some of ther best value beachside blocks in Australia.

I was up there a couple of weeks ago and there is work being done on the extension of the runway. There has also been a major upgrade to the port announnced recently.
Attached Images
File Type: jpg Brochure for email.jpg (164.6 KB, 149 views)
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Old 18-12-2008, 02:55 PM
AUSPROP... AUSPROP... is offline
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the jpg doesn't look very clear?
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Old 18-12-2008, 05:25 PM
APerry APerry is offline
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Does anyone know how to upload it as a pdf. It keeps trying to upload as a jpeg?
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Old 22-12-2008, 09:45 PM
bradje bradje is offline
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Does anyone know how to upload it as a pdf. It keeps trying to upload as a jpeg?
I don't think that .jpg is the problem The image has been scanned at a low resolution and that is all we can see. It would need to be re-scanned at a higher res. the sand dunes look nice though....
JB
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Old 25-08-2009, 06:04 PM
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anyone got any news on this part of the world?
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Old 27-08-2009, 12:44 PM
dheath dheath is offline
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Don't forget Burnett Heads

I just saw on the local news that the new bridge linking the marina to town is now underway, to be finished by very early next near.
My agent also told me that the shopping centre has been purchased by a Gold Coast developer and is back on for next year, anyone confirm??

I bought here a few years ago, I am surprised how close it is to both Bundy and Bargara. A new bike path is in I believe linking BH to Bargara.

D.
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Old 03-01-2010, 04:31 PM
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Quote:
Originally Posted by fatboy4 View Post
DDD I am a RE agent in Bargara.

Another shopping centre for the southern part of town (approved recently)
.
Where is this shopping centre,is this the one on Rifle Range road?
If so,how far is it off being started,
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Old 29-12-2010, 03:06 PM
cuffythreehorns cuffythreehorns is offline
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hi there ddd,
we are also from melbourne & bought an ip in bargara nearly 10 years ago, after having car trouble while travelling around australia!
we had never heard of bargara at that stage , so we ended up staying out at moore park while our car was getting repaired..... we left after 1 night as we didnt like it & somehow found ourselves in bargara for the remainder of our time up there...... WOW, what a place... we instantly fell in love with it. ended up buying a place right near the beach, with an idea of 1 day moving up there to live & also we thought in the meantime the area promised excellent future capital growth as we saw it as a little, undiscovered paradise...
although i'm not an expert, i think the area is STILL very cheap for what it offers, (sub-tropical village with stingerfree, clear warm waters, with everything you could need, only 10 minutes down the road! except direct jet flights to melb & sydney etc!!) people have been saying that will happen now that the airport has been upgraded, but, although i'm hoping.... i'm not too sure it will happen anytime soon???
surely if or when it does, house prices will take off.....
just my opinion but the bundy region from agnes water thru to woodgate is as nice as australia gets, which is pretty bloody good !!!!
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