Does anyone know what the investment situation is like in Bundaberg and Burnett Heads,
I am in Sydney and looking to possibly invest in one of these areas.
I am planning to fly up and take a look around on the January long weekend and to buy early february.
Cheers,
BrettPretty good.
Harvey Bay just down not far from Bundy was declared the fastest growing town in Autsralia only a few months ago. It’s no wander Virgin Blue and Quantus have unfolded Airports there.
Bundaberg itself is alright. You’ll need to be creative to get cashflow.
Burnett Heads would probably be your best bet, as they are heading out there since Bagara has slowed down or nearly run out of room. I new an RE agent that was buying a block himself moving a house onto it doing most of the work himself. in Burnett Heads.
I just spent nine months there, I really like Bundaberg it’s a great place. I’m gunna go back there.
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Footsteps in the sands of time weren’t made sitting down.
Positive Cashflow Financial Analysis Calculator OnlineHi Brett
Bundaberg has been my home since Easter 1989. I own one rental property and just bought a renovation project here.
The market has come back a bit over the last 3-4 months and I would call it stagnant right at the moment.
When you ask what it is like for investment properties – well, that depends on what type of investment property you are after.
If you are after a positive cashflow rental income property then you will be hard pressed to find much in that category.
If you are looking for a buy/renovate/sell type property then there are a few on the market that have been around for awhile and have motivated vendors so, in that sense it is a good market if you pick the right place.
As for Burnett Heads…..it ,and Elliott Heads, have always been the poor cousins of Bargara tho both are up and coming and definitely cheaper than Bargara tho the “sea change” thing has prompted many vendors (or their agents) to go for a higher price than I personally think they are worth in today’s market.
There is some development going on with regard to linking the Port to Burnett Heads and there are some great spots and I believe some good opportunities but it depends somewhat on what the council decides for the area’s future. The Burnett Shire is a little on the conservative side and there is also a fair bit of internal squabbling within the council and it is hard to say what the final plans for Burnett Heads is or the timespan involved.
Jaffasoft is right about Hervey Bay but it is too far removed from Bundaberg to put them in the same category just yet.
I hope you enjoy your visit to Bundaberg and please feel free to contact me if you want when you come up.
Cheers
DinahHi Brett,
Coming from Bundaberg myself and owning a couple of properties there, I can honestly say it is a good area, however the market demand has gone down a little. I still look around the area (I am currently in Alice) to see if there is anything that does fit the market situation. It depends on what you want to buy, and for what purpose. One of my recommended contacts is Rob Brown at Ascot Real Estate who has a total finger on the pulse for any serious investor.
Good luck and enjoy your weekend!
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