Bunbury’s rise through the September quarter
Bunbury is once again the standout performer among regional centres in the September quarter.
Stealing the spotlight with a remarkable 3.5% surge in its median house price (which now stands at $445,000) the buzz around this suburb isn’t just about numbers; it tells a story of strong demand for established homes, propelling prices upward and trimming the median selling time.
Population growth coupled with rental market challenges continues to sustain demand for established homes. REIWA President Joe White confirms that Bunbury, like many regions, was seeing strong demand for established homes, which was putting upward pressure on prices.
“Houses in the Bunbury regional centre sold in a median of 15 days, which is eight days faster than the previous two quarters. This reflects the high demand,” Mr White said.
In light of 13 interest rate hikes since May 2022, affordability is a key concern for buyers, and Bunbury stands out as a relatively affordable option, especially when compared to Perth and nearby Busselton. During the quarter, Bunbury witnessed significant activity in the lower end of the market.
Other regional centres experienced changes in median house prices and rental markets during the quarter. Busselton and Geraldton observed growth while Bunbury secured the second-best spot with an 8.5% increase.
Unpacking Bunbury’s regional allure
Bunbury is a thriving regional hub, offering not just the promise of rural tranquillity but increasing employment opportunities with ongoing development.
Close enough to Perth for convenience yet the ideal place to enjoy the South West lifestyle, Bunbury beckons with a charm that’s hard to resist.
The Bunbury Experience
If you are ready to build a new home in Bunbury, WA Country Builders are here to help you choose the perfect design. Our Bunbury home designs can be modified as needed, ensuring that they meet the ongoing needs of your family.
Whether you are looking for a home for your family or an investment property to add to your portfolio, we can help.
We are committed to offering our clients the better building experience, and we only work with contractors who share that vision. Your new home will be your castle, so you deserve only the best when it comes to those who construct it for you.
Original source: The West Australian
