PROPERTY REPORT: Core Logic's September report revealed over 1600 dwellings were sold in the year to August.
PROPERTY REPORT: Core Logic's September report revealed over 1600 dwellings were sold in the year to August. MicroStockHub

$540m of Bundy homes sold as region nears decade-high levels

A NEW report shows 1668 Bundaberg houses and units sold in the 12 months to the end of August, contributing to the Wide Bay region reaching near record sale heights for the past decade.

The Core Logic Regional Market update for September showed 1479 houses and 189 units were sold in Bundaberg in the year to August, with more than $540 million worth of property changing hands.

The total for the house sales tipped $487 million, while units came in just under $55 million.

Coastline Realty Bargara selling agent Cody Holzberger said Bundaberg's figures were the result of a recovering market. And the good news is he thinks things will keep improving. "Some regions have plummeted and some have risen, our market is on a turn going up so its a good time to sell if you want, it keeps the market moving," Mr Holzberger said.

The property market of the Wide Bay region, which also incorporates the Fraser Coast, has steadily improved each year since 2012 after it collapsed dramatically in 2011.

The 6026 dwellings sold in the 12 months to the end of Augusut is just under the 2009 level and if current trends remain the region will shortly surpass that figure.

The region is still well off the 2003 boom level where nearly 12,000 properties sold.

Mr Holzberger was confident the next two years would deliver growth.

"I think it will go up and with all the new infrastructure in Burnett Heads and their plans for the port expansion and new apartments going across the yacht club," he said.

"Over the next 12 to 24 months it should grow, because we don't have to worry about a mining town being a stone's throw from us, and we're too far north of Brisbane to follow their dips and dives, and too far south from Townsville to follow their trends.

"We are in a magnetic zone and it's stable."

 

The report showed homes were taking just over 100 days to sell with vendor discounting at 6.9 per cent.

"With house sales increasing by 2 per cent and unit sales up 3 per cent, Wide Bay house values have increased by 1.7 per cent or just under $5000 for houses over the year to September," the report stated.

"Advertised rental rates for both houses and units remain unchanged year-on-year."

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