Bundaberg???

[dheath]

Hi,

My wife and I are heading up to Bundaberg this weekend and was just wondering if anyone in the know can tell me at what state in the cycle is Bundy in?
I know Bagara has just started to slow from some good price movement, but has Bundy had a run yet? Seems cheap.
Also rents are not bad verse the price of a house, could be neutral or positive in a few years, anyone confirm?

Have seen a few close to CBD for around $240k with rents of $210-$220 week.

Any inside info appreciated.

Reagrds,

Duane.

 

[Alanna]

According to Herron Todd White report for June, they are at the peak of the cycle. Prices seem to have slowed significantly the last few months, although yield still seems ok. Have been watching there for a while and speak with some REAs periodically, they seem to be getting good prices, but for us, the numbers are yet to add up for a purchase there.
I would consider Innes Park (cheap coastal buying) but remember that many people in Bundaberg are still very regional and hate to even cross the bridge to get to town, let alone drive 10 minutes! (I am allowed to say this, I grew up there!) I would probably skip East Bundaberg due to its largely industrial nature. North seems ok, Avoca nice. The local shire has the flood plan map online, which is worth a look before you view any properties - it can wipe out whole streets!

Happy hunting

Regards
Alanna

 

[dheath]

Thanks....

D.