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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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Inter-state demand from home buyers and investors continue to remain high with Queensland still dominating the other states for the highest online search interest accounting for roughly 35% of the total search volume for September – December 2022.

Regional Queensland also outperformed other regional centres with online search interest rates trumping hotspots such as Regional Victoria, Regional NSW and Regional WA making up 41%. Bundaberg has been a great beneficiary of this spike in demand with median house prices ballooning out over the last 24 months by 49% from $354,000 now sitting at $528,000.

There has been one particularly suburb in Bundaberg that’s done a bulk of the heavy lift in dragging up the Regional Hubs median house prices and that’s been Bargara.

Located approximately, 20 minutes from town square hugging the Bundaberg coastline sits Bargara. Many property buyers have flocked to Bargara attracted by its white sandy beaches, laid back coastal vibe and affordable property prices.

Image: Bargara, Bundaberg Coastline 

In the last 24 months Bargara has surged 46% with its median house from going from $486,000 in January 2021 to now sitting at $700,000. Over the last 24 months it’s been a difficult suburb to buy property in with very low stock levels, and extremely high levels of demand where 3-5% over asking price wasn’t uncommon.

This surge in demand was largely driven by cashed up inter-state buyers from NSW and Victoria looking for a sea change. The Capricorn Life team helped many interstate home buyers navigate this difficult market over the last 24 months but have seen a slow down in requests for assistance.

The slow down can now be seen in the data with days on market sitting at 90 days almost double its 18-month average of 30 days and the median house price starting to flatline.

Image: Bargara, Median House Price Trend 

This may come across as good news for property buyers who have been sitting on the sideline waiting to snap up a bargain. However, the Capricorn Life team believe that due to a lack of new stock and low listing volumes of existing stock in the area could mean Bargara is still likely to surge along, and bargains will be extremely rare.  

If you need help navigating the Bundaberg property market reach out to the Capricorn Life Buyers Agency.

Buyers Agent Bundaberg | Buyers Agent Central Queensland

Troyson Bassani

Owner & Head of Research

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