New figures show big jump in number of Bundy renters
A BUNDABERG real estate agent says now is the perfect time for people to snap up an investment property in the region as demand for rentals rises.
Figures released for the June quarter by the Residential Tenancies Authority reveal there was an increase of 132 households renting in the Bundaberg region since June last year.
The total amount of properties including houses, townhouses and units being rented reached 9580 in the quarter, with three bedroom houses being the most desirable option for renters.
The region saw 346 bonds lodged for this type of property for the quarter with the median price rising from $280 for the corresponding quarter last year to $285.
This was considerably higher than Gladstone's median at $190, Rockhampton's at $270, but lower than Hervey Bay's at $310.
LJ Hooker Bundaberg principal Jonathon Olsen said there was a large demand for rental properties in the Bundaberg area, with listings snapped up quickly and vacancies coming through less often compared to six months ago.
"We're finding there's a number of people coming back to Bundaberg for jobs," Mr Olsen said.
He said he believed this was a great opportunity for investors to jump on-board and purchase a property to produce some extra income.
"A lot of capital cities are slowing down in their capital growth, Bundaberg is a very steady and stable market," he said.
"Rents have slowly been moving up but the price of the homes have been very stable so year on year it's becoming better value for money to buy a rental in Bundaberg."
The new data reveals that 2.1 million Aussie households now choose to rent, equating to around a quarter of the nation's population.