Economy, Population and Industry in Bunbury
Located just 175 kilometres south of Perth, the city of Bunbury has the remarkable potential within the realm of real estate. Home to an estimated 67,000 people, WA’s unappointed second capital city is one of the fastest growing regional areas in the country. The city’s economic growth is climbing at a rapid rate, with mining, infrastructure, agriculture and manufacturing as the four major sources of economic income within the city.
The Real Estate Market in Bunbury
In terms of the property market, the Bunbury region offers an affordable range of houses when compared with the Perth metropolitan area. According to the Real Estate Institute of Western Australia statistics, there has only been a 5 per cent price growth in the past decade, resulting in the median house price in Bunbury being $475,00 (based on 23 home sales on realestate.com.au). When compared to the same period of time five years ago, the median house sale price has decreased 12.4% in total – which is fantastic news for potential homeowners looking for an affordable home within the bustling city of Bunbury. For those looking to rent, the median rent price in the city of Bunbury is just $300 a week, with a rental yield of 3.3%.
Thanks to ACTON’s friendly South West Bunbury team, there is an incredible range of properties available for sale in this stunning part of the state. Read below for current examples of properties revolving around the current, reasonable median price for the area – and that, as such, meet the current market demands in the city of Bunbury.
At the bargain sale price of $139,000 this cosy, central property boasts large front and rear outdoor areas with an abundance of grass, a 500m walk to Queens Gardens and the Bunbury CBD, and a neutral interior to permit artistic flair and individuality from its new owner. This quaint home is a fantastic example of the property market in Bunbury right now – in that it’s not impossible to find the home of your dreams for below the city’s median buying price thanks to ACTON’s extensive range of Bunbury properties.
The Bunbury real estate industry is also completely open to those willing to purchase land instead of an existing property. This listing of 4x ideally located lots on ACTON’s site offers rare plots of land for an extremely competitive price of only $229,000. Only a stone’s throw from the harbour, these blocks are fully serviced and are only 200m from Bunbury’s thriving CBD.
On the higher end of Bunbury’s median property price, this stunning property features several living areas, a cosy fire for winter, granite bench tops and a shady garden at the rear. Only a few minutes stroll from the CBD, marina and a quiet local bay, this $649,000 property sits in the stunning, secluded Marlston Hill, and is another brilliant example of the range offered by ACTON’s Bunbury sales team.
The Future of Real Estate in Bunbury
The South West region’s continued economic and industrial growth is a positive sign for the future of real estate (in the city Bunbury particularly). The city’s simultaneous growth in population alongside the continued construction of commercial properties is another sign of a positive impact on house pricing in the near future.
Bunbury mayor Gary Brennan’s vision is for the progressive city indicates that its major players for employment and industry are in modern infrastructure and construction, with minerals including silica, coal and alumina rich in the area. Bunbury’s processing abilities of these commodities therefore feed its local manufacturing industry, and also paves the way for promising times within the region’s tourism and agricultural industries – and hopefully, in turn, its successful and generous property market.
ACTON South West are the South West region’s premier real estate team. With offices conveniently located in Bunbury, Busselton, Dunsborough and Margaret River, ACTON’s South West real estate agents have a vast experience of the regional property market, a fantastic enthusiasm for real estate, and a keen interest in community values and causes.
ACTON Bunbury specialises in all facets of real estate, including but not limited to property management, residential, strata, commercial, business, subdivisions, rural, vineyards and wineries. Contact one of our Bunbury team today or visit our offices. There is a large range of quality Bunbury properties available for your perusal right now. Contact us today for more information.