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Capricorn Life | Buyers Agent

Rockhampton, Gladstone, Mackay, Airlie Beach, Emerald, Bundaberg, Yeppoon, Agnes Waters, Whitsundays

CENTRAL QUEENSLAND

1800 543 328

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As the major capital cities start to bounce back after months of retraction Bundaberg has been full steam ahead. 

The first quarter of 2023 for Bundaberg sore the Median House Price rise by 2.8% currently sitting at $508,000 up from $494,000 in December 2023.

Popular coastal suburbs like Bargara and Innes Park also reported steady gains. The team at Capricorn Life Buyers Agency believe these gains are still being driven by active intra Regional and interstate buyers looking to still capitalise on affordability and lifestyle. 

Across the first quarter overall supply levels have increased in Bundaberg to a 4 month high to 0.34% in April 2023 up from 0.23% in December 2023. But the supply we have seen has mainly been existing investment stock changing hands rather than a large portion of owner occupier dwellings. New this market injection of new supply has rebalanced the market but its still very slim pickings for buyers right now.

Usually when supply increases median prices slow down but this new supply appears to still not be a enough to sustain current demand levels in Bundaberg essentially for well located and well built properties with most of these opportunities still being snapped up quickly and having multiple bidders.

From our analysis the Bundaberg property market is not a buying frenzy where the market depth consisted of 10-15 offers per property we have seen this number decrease to around 1-6 active bidders. This is reflective in the Online Search Interest volumes which fell 33% in the first quarter of 2023.

Capricorn Life Buyers Agency recently acquired an investment property for one of our interstate clients and found yourselves in a multi offer situation with 6 other bidders so the market is still very strong for well located homes in Bundaberg.

Factors such as interest rates, inflation and market continent have all played a small role in cooling the demand in Bundaberg. However, from our on ground perspective and data analysis we believe Bundaberg still has plenty of steam in it and we expect demand to increase again after mid year and the median house price to go on another strong run of 10% plus gains. 

For more information on how the Bundaberg Property Market tracking checkout our latest market update video. Click on link below:

Buyers Agent Bundaberg

Troyson Bassani

Owner & Head of Research 

Capricorn Life Buyers Agency 

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