QLD Is Bundaberg is good place to invest ?

Hi,
Can some please advice on whether it's a good idea to invest in Bundaberg or it's surrounding suburbs ? I'm looking for a budget around 500-550K.

Thanks and in advance.

 

The coastline is nice. Bargara, Elliot Heads

 

Keep an eye on the flood areas as there were a few affected areas in the previous floods. Also the insurance may need to be reviewed other than that if the $$ and Risks are acceptable to your investment setup it may be a good area to invest.

 

Thanks mate. Do you think Burnett Heads is a good area ?

 

Thanks mate ! Do you think Burnett Heads can also be affected by floods ?

 

For 550K I'd be buying in Agnes Water or Hervey Bay not Bundaberg.

Much more growth potential.

Bundy is an ok option for those that only want to spend 350K...

 

Best to check with council and see which areas are flood affected.

 

Burnett River flood information – Bundaberg Regional Council

See if this helps

 

Considered Townsville? We just bought here.

 

can you share the consideration behind townswille? is that a brick home or one of the weatherboards?

 

Personally not a huge fan of Bundaberg and especially not for your budget. What sort of house were you looking at?
550k would get you a nice place in Townsville or Cairns and an average place in Brisbane

OR a decent house in Perth

Im definately not adverse to buying in small towns but personally i would probably only look at something thats a little unusual , ie a huge block or a good rennovator OR if i knew the market was about to move but you can only really know that from experience

So what drew you to Bundaberg?

 

Sure. Brick home. 880 sm. Purchased in Toensville because, where I am (Darwin), your bang for buck just isn't going anywhere. We secured a home in Bushland Beach, on elevated land, out of a flood zone with a great floor plan and flat land for future upgrades eg. Small basketball court for the kids. Townsville is still the largest town outside of Brisbane, and to my knowledge, from Mackay up, people seek medical treatment in Townsville (correct me if I'm wrong). Furthermore, we have a market that has essentially gone nowhere in 10 years with inflation considered. Might have been some fear attached to the 1 in 50 year flood? Employment opportunities have improved and it appears more diversified now (port operations, defence, education, sustainable technology, human services, health, mining and more). You've also got the 12 hectare wildlife sactury, largest aquarium of living coral in Townsy, and you also have Magnetic Island. You also have Cairns close by if you want to go for a drive up there. You also have Whitsunday close by and Mackay. Large amounts of money has also been committed to Townsville in respect to infrastructure. The AUSUK alliance should prove fruitful for the region too. Finally, if this new regional airline gets the approval from federal government, and flights are cheaper, it will open up a lot more opportunities to visit the big cities when you need a hit of it. I think also are releasing with the money they spend in Melbourne, Brisbane or Sydney, they can get mansions in Townsville. Townsville also has FTTP Internet connections for the work from work/ gamer (though not all suburbs do so gotta be selective). Overall, was not a hard decision to buy our home here compared to Darwin. Closer to the east coast and family too now. Logistic lines are improved too compared to Darwin. Darwin will always have the SE Asia card. Can quite literally go to Bali for long weekends. But not sure it's worth the extra debt on the mortgage to get something reasonable in a safe suburb. Good luck.

 

thank you

 

This property is located in Burnett Heads. It's very close to the The Gateway Marina which is going to be built very soon.

 

That budget will get you into some good suburbs of Bundaberg. But that’s almost the peak, you’d be over capitalising now in Bundy unless you jag something on millionaire lane where your house is the worst of the street surrounded by 600k-1M homes.

Bargara, Burnett Heads, Coral Cove and Innes Park all shot up by over 100k median in the last 12 months. Should of brought a 400k property then, you missed the boat there.

 

Do you think if the proposed The Gateway Marina in Burnett Heads will drive prices further up ?

 

Definitely prefer Bargara over Burnett Heads, but supply may be an issue. .

 

yeah , a 4 bed house less that 5 years old would cost around $600K-$650 K in Bargara but it’d be around $500-$550 K in Burnett Heads. Great potential for growth still in Burnett Heads I think ?

 

Bundy prices have been flat a long time so timing it now is good

 

I've no doubt that both Bargara and Burnett Heads will grow in the coming years.

Having said that, however, are you saying Bargara is fairly valued but Burnett Heads is undervalued though?

So in percentage terms...Burnett Heads has more growth potential than Bargara?