There's a positive outlook for the Bundaberg Region property market, according to speakers at today's UDIA forum at Rowers on the River.
The Bundaberg branch of Urban Development Institute of Australia is an active community of business leaders who are committed to building a better region.
Focusing exclusively on Bundaberg, today's speakers discussed key indicators such as house prices, land values and house sales per suburb.
State Government valuer Michael Tapiolas said there were many positives for the Bundaberg property market.
“Great yields are being achieved in Bundaberg on farms and industrial and residential sales are much higher than southern Queensland,” he said.
“One farm sold with a yield of 17 per cent.”
Bundaberg property market focus for Sydney buyers
RE/MAX Precision's Scott Mackey said big-city residents were showing a keen interest in the Bundaberg Region.
“Lots of Sydney-siders are picking up property here, top-end property,” he said.
“After Australia, the US and Japan investors are the top countries where property inquiries are coming from.”
Mr Mackey said it wasn't all about high-price homes, with more than 109 houses currently for sale under $200,000.
“Many of these would be positively geared,” he said.
During the meeting, attendees were offered the opportunity to ask questions, with one future development in particular on the minds of some.
Cr Helen Blackburn asked the guest speakers: “Where do you think the new level 5 hospital will go and what would be the best location?”
“Anywhere, put it anywhere!” was the response from Mr Tapiolas.
Writing in the latest UDIA Queensland magazine, Mayor Jack Dempsey said the Bundaberg Region's positive outlook had been encouraged by Council's Open for Development program.
“Construction activity worth $555 million was incentivised in less than three years through the program,” he said.
“The value of building and civil works completed so far is $120 million.
“This includes 810 lots, 157 residential units, 397 short term accommodation beds and commercial space of 12,800 sq metres.”
Mayor Dempsey said the Bundaberg Region had a competitive advantage due to affordability.
“There have been development applications at Burnett Heads, Elliott Heads, Coral Cove and Innes Park with the potential to cater for hundreds of new residents,” he said.
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