Property

Inner Bundaberg house prices skyrocket

Bundaberg REIQ zone chair Michael Dempsey says local real estate is on the road to recovery.
Bundaberg REIQ zone chair Michael Dempsey says local real estate is on the road to recovery. Max Fleet

HOUSE prices in Bundaberg's inner suburbs have skyrocketed in the past year - but prices across the city are still lower than five years ago.

Sales figures from the Real Estate Institute of Queensland show prices in the June 2015 quarter in Bundaberg North and Bundaberg South have risen 17.4% and 14.1% since the June 2014 quarter.

The median sale price in Bundaberg North was $229,000 and in Bundaberg South it was $235,000.

Bundaberg REIQ zone chair Michael Dempsey said the market was beginning to recover from the floods.

"Bundaberg is just starting its recovery. Everything is starting to look a lot more positive," he said.

"I think we're heading to a boom. Median house prices in Bundaberg are just so low at the moment."

He said while prices dropped in some suburbs last quarter, there had been an increase in sales on properties at the bottom end of the market.

Mr Dempsey said location and block sizes in inner city suburbs such as North Bundaberg, South Bundaberg and West Bundaberg were driving demand in those suburbs. But prices across Bundaberg city were still lower than they were five years ago.

Prices were 8.4% lower in Bundaberg North, 9.6% lower in Bundaberg South and 11.5% lower in Bundaberg East.

Other Bundaberg suburb house prices have dropped on last year with houses in Avoca down 2.1%, Thebeban down 6.3%, Millbank 8.6% lower and Norville 5.5% lower.

Mr Dempsey said Burnett Heads was a booming area - a claim the figures backed up with prices up 9.9% on the previous year and 10.9% on five years ago.

- APN NEWSDESK

Topics:  bundaberg interactive property real estate reiq



LETTER: MP says Fed Govt to blame for poor NBN rollout

Leanne Donaldson says she's appalled but not surprised by the chaotic rollout of the NBN.

Sad outcome for vital nation-building projects of our generation

Two bodies recovered from sunken fishing trawler

TRAGIC NEWS: Inspector Darren Sommerville addresses the media at Gladstone Police Station.

The bodies will be brought back to shore tonight.

Local Partners

Mackay real estate agent urges banks to move

Who's leading who when it comes to the housing market?

Willy-nilly lending burst a bubble, but agent urges banks to change

Church says no immediate plans to develop Alex Head site

Plans show the layout for 338 new units to be built by the Uniting Church at Alexandra Headland.

Church gives portion of land to the council for environmental park

Open for inspection homes October 19 - 25

Check out this weekend's homes open for inspection.

HIGH-RISES: Green light for 20-storey buildings in Hervey Bay

SKYSCRAPER PLANS: A concept design of the proposed skyscraper development in Urangan, which was approved by the Fraser Coast Regional Council at yesterday's meeting.

Councillors voted 8-3 to give the project preliminary approval.