Bundy beaches Matusiks next hotspot!

Thanks you for the subdivision plans Alistair. I will have my Innes Park Brother check it out for me this week. Ideally, the ones nearer the beach will hold better value.
Cheers
Peter
 
Hey, does anyone know what new 4bdrm 2bath homes are going for in Burnett Heads?

I Have a few blocks 1 street back from the water (Oaks beach not river) and I'm waiting for the best time to build and flip (can't find enough on RE.com to get an estimate, plus things are starting to move to fast for RPDATA's lag to keep up.

I know the new IGA and specialty stores have just begun construction, my R.E agent up there has said the sand has finally been poured.....about time!!!!

Might wait for them to finish first...

Cheers and a Merry Xmas.

D.
 
Bundy Coast Spots

Dear Thread Members,

I was intrigued by the thread and had to do a little research (online of course!) of the areas mentioned. I must admit it does look seriously undervalued as compared to beach spots to the North and South. I have never been to the area before so any comment those in the know can make would be appreciated.

On Moore Park Beach - I had a hard time finding any strategic plan for the area with the council or otherwise.....there is also a 'heap of properties' on the market at the moment and some big price cutting going on for some properties that seem to have been on the market quite a while. The flooding of the market with houses for sale worries me a little in terms of why are all these people leaving? Or is it investors trying to get out due to the rents staying low and buying in the boom?

Whilst the blocks on the beach and one street back seem huge at 4000sqm each the development potential to me seems unknown....is demand really rising in the area?

Bully
 
Thought I should reply to some of the issues and questions raised as I am a RE agent in Bargara.

I have been an investor in the area since 1996 and have 10 properties in my portfolio at present. I have a house in Bundy but others are at the coast.

Generally:
I attended the Matusik breakfast- impressive. There is a more detailed report on our area coming out soon.

Burnett Shire contains the coastal areas mentioned in this thread (and more areas to the west of Bundy) Bundaberg is in the middle of Burnett Shire.

The amalgamation (and council elections) are due in March.

Bundy + Burnett + Kolan (north of Bundy) and Isis (south-Childers and Woodgate beach)

Bargara is the main coastal centre- it has a nice village atmosphere. Quality 5 storey oceanfront developments in recent years, nice res A areas not far from the beach. Cafe's and restaurants, 2 doctors, 2 pharmacists, a vet, 2 banks, etc ( lots of RE agencies and more coming!)

Bundy's pop is about 50k and Burnett's about 25k (Bargara 7500)

Av capital growth of 12% 2007 for Bundy and the Coast

((For Karina Elliott Heads +15.5% 312k median)):)

Just to answer some of the questions/issues:

Beaches: Stinger free swimming, shark baits (not nets), small surfable waves
There are 4 in Bargara itself (Kelly's Beach is 1km long approx), Mon
Repos beach just north is bigger again.
((No issues with Bondi type crowds on the beaches just yet. Beaches to the north and south are longer a la Moore Park, eg Rules beach, Agnes Water to the north and Woodgate beach to the south)

Pop Growth: Bargara about 5% (according to a Council Paper) the Shire itself is less than that but still 2x state av.

Schools: 1 primary state school in Bargara and one in Kalkie halfway to Bundy. 3 Private and 3 State High Schools in Bundy (2 of the private schools halway to Bundy)

Education Qld owns a big parcel (19.76ha) and Catholic Ed Office owns another big block (12.7 ha) both adjoin central Bargara Residential (probably be a State High and a Catholic Primary in time)

Who's Buying?Gold Coast, Brisbane and Sunshine Coast people moving because of lifestyle "this is what Caloundra etc was like 20 years ago"
Investors from these areas and the mining areas to the north.
To a lesser extent NSW investors and empty nester types.
The coast is also an upmarket suburb (esp'y Bargara) for people who usually work in Bundy (14 km away)
Rental demand has been very high in recent times and rents are increasing (av 4% for a house)

Coastal Planning Maps: Are available on the Burnett Shire website (www.burnett.qld.gov.au) The New Planning Scheme came into force in May 2006.

There are some great aerial shots on the Council's site. Bundy has some excellent shots of the coast as well. www.bundaberg.qld.gov.au

Moore Park We don't cover Moore park beach so it is not an area that I can shed any light on.

Infrastructure
More shops coming- Shopping Centre is expanding (and they have still more adjoining land) Woolies as marquee shop. Rents for commercial space are up a fair bit.
There are two main road links to Bundy- doubt we will get a dual lane carriageway for a while.
Bundy only 15mins away and is a thriving regional centre- we have 2 other hospitals...

Subdivision Opportunities:

When the New Planning Scheme finally came out it was out of date (IMO)
It doesn't provide enough urban land (I am talking Burnett Heads to Elliott Hds) for the growth that is occurring.

Rural land is really close to the coast in many parts (eg Hughes Rd Bargara is 700-800m from the ocean and is rural to its west) These would be the ones to look acquiring keeping in mind the holding costs. Some of these have been for sale but sellers are looking for Res A money without the zoning...

englobo land in Bargara 60k per raw block + 60k to develop
Last sale 5.2M for 9.48 ha close to golf course and CBD (89 blocks from memory) Res A of course
None of theses left tho AFAIK

I include a report I am working on for some Brisbane investors (all my opinion of course):

If you would like specific help feel free to PM me


Market on the move again in 07

Last boom started here in 2000

Positive press (Matusik coastal hotspot- W'end Aus, Money Mag, Courier Mail)
Affordable, infrastructure, Bundaberg close, village feel
Investors back in the market
Strength of Brisbane (esp’y inner) and Gold Coast (usually flows on to us)
Sydney recovering (more top end)
Many buyers here not mortgage belt, highly geared so int rate rises not such a factor
(eg cashed up empty nesters, retirees for whom higher rates are a positive)

Confidence is back but still a segmented market
Interest in cheaper homes around 300k now under 340k
Vacant land on which to build- base price now 150k (fully serviced)
Shortages of both of the above stock is tight
Hot sectors- central bargara quarter acre and oceanfront Bargara
Mid to High Houses 450 and up still a bit soft unless special (view etc)


Villages
Bargara- main centre, most demand for central and beachside
New Planning Scheme- old house on 1012m2, redevelopment potential, hot sector strong interest
Opp for medium density development one to three streets back depending on zoning
Oceanfront prices surpassing peak boom prices and selling quickly
Most Services and infrastructure – shopping, golf, more commercial/retail coming eg Woolies
Golf Club site redevelopment

Burnett Heads
Second biggest coastal village (school, pub and shops- new IGA centre approved)
Brisbane Port Authority merger with Bundy Port Authority
Port Authority proposal for Harbour front land Strategic (maritime industries) and non- strategic (residential)
Not sewered but may happen to facilitate Port Authority redevelopment
Bridge over Burnett Ck to link BHeads to the Port
Strong price growth cheaper houses
Value in oceanfront houses (from 600k), very pretty sea esplanade
Small (patrolled in season) beach (oaks Beach) 80m or so

Innes Park
New subdivisions, big houses
Not sewered
Older area better value and very popular look for a cheaper home here
Developing suburb, handy to Bargara
Small general store
$165M resort planned by Metricon (Tavern units and housing)
Will almost link to Innes Park North and Bargara


Coral Cove
Mostly sewered (has its own plant)
Golf Course and club house
Biggish general store
No beach (yet) trying to get one
Most houses priced in the softer price segment (450+)
Afair bit of this for sale
Look for bargain and or something with a view (ocean or golf course)
Austcorp owned
Capacity for land supply to increase once the treatment plant is finished

Elliott Heads
Not sewered
Very pretty- white sand - small beach areas but km's of sandy river flats
Has had strong capital growth this year but relatively few sales
Small and tightly held
Very limited supply
Land can be expensive
EH buyers will pay a premium to get in
Older house around the common possible view and or
Walk to beach and or river
Proposal to rezone farmland behind existing houses
Local resistance to development



Recommendations
Good time to buy all indications point toward increasing capital growth.

• Oceanfront value is B Heads, superior capital growth + infrastructure + Port Authority (600-750k)
• Central Bargara old house 1012m2 in Med Density Precinct (380-400k) pay more for Holland St, corner block good but not essential
• House under 340 (central Bargara, other suburb preferably with amenity (close beach and or view)
• Cheap (around 400k) older style unit in Bargara, - low body corp capacity to add value
• Value block of land in Bargara (around 160k) might get builder’s terms in a new estate, time to get built might be an issue (6-12 months)
 
Bund article

Anyone happen to read the following article in "The Bundy NEWSMAIL" on Jan 2nd?

.........


Runway upgrade set to go

02.01.2008

By Nikita Lee and Zane Jackson
A $15 million upgrade to Bundaberg Airports runway could start as early as March, despite the Bundaberg City Council missing out on federal government assistance.

The airport's runway will be lengthened and strengthened out of council's own funds, a move Councillor Lorraine Pyefinch said was necessary to meet the demands of residents and tourists.

Cr Pyefinch, who also chairs the council's engineering services committee, said the first concept plan for the runway upgrade was expected soon, while the second concept plan would not be in council hands until about March.

"We'll focus on working on the runway to ensure it is long enough to cope with larger aircraft, as well as strengthening the tarmac," Cr Pyefinch said.

The rest will go to the planning, but not construction, of an upgraded terminal."

Cr Pyefinch said the upgraded airport would facilitate future growth in the Bundaberg region.

"It's a significant economic driver for the city, and we believe it's an attractive option for people not only establishing new businesses, but also relocating other aviation related to the site.

Council is waiting to see if the Australian Defence Force will still investigate allegations a munitions bunker exists under the site.

The NewsMail has previously reported on the rumoured bunker, with former defence minister Brendan Nelson agreeing to investigate the claims.

Council is hoping any investigations will not disrupt its plans.

Deputy Mayor Mal Forman believed the plans would work in perfectly with hopes of starting flights from Bundaberg to Sydney.

The idea gained momentum several months ago when a new Q400 aircraft became a permanent fixture at Bundaberg Airport.

"We have been discussing the plans for quite some time and I'm hoping there may be results soon," Cr Forman said.

"Flights from Sydney to Bundaberg would provide a great opportunity for frequent flyers to have an easy and enjoyable service."

...............................


Any comments on how positive you think this is going to be for the area?
A new Hervey Bay maybe?????

Cheers,

Duane.
 
Interesting synopsis fatboy,
We looked at Coral Cove 2 yrs ago and were dealing with the Auscorp rep. regarding buying out parcels of land to develop ( seems like the project had stalled)
He left Auscorp soon after and we learnt some home truths thereafter.

Seems like there are no 'sandy' beaches around that area, but the snorkelling is supposed to be spectacular.

We were also aware that the airport runway was due to be extended, with Virgin Blue already booked to start flights once completed.

I think the area in and around Bundy will continue to grow strongly, and Moore Park will come into its own once they have more infrastructure and commercial outlets in place.

We have witnessed this in many other remote locations that seem to defy logic when it comes to visitor numbers and property values.

I have been operating on the 'bush and beach' principle and it hasn't failed me yet.
Bush as in mining centres in Qld and WA, and Beach as in anywhere near or on the coast.
They say buy land coz they're not making any more of it, but there is an awful lot of land in Aus.
Not as much beach though ...

Regional Aus has heaps going for it and is fundamentally undersupplied with new and quality housing.
Figure out how to get that housing in place and you're home and hosed.
 
I agree on the future of the area kph.

Coral Cove has had a bit of a bumpy ride over the last few years. Bit of an oversupply of houses and land should be right in a year or two...

I was thinking yesterday (while I was snorkelling) that I forgot to mention that the snorkelling is fab around here (Barolin Rocks at Coral Cove and Hoffmans Rocks at Bargara) - some of the best inshore diving around.

Bundy is affordable and has plenty to offer. I like Moore Park- it is a lot like Agnes Water but way cheaper and much closer to infrastructure. And if you want acreage near the beach around Bundy then it is certainly the place to look. (I was careful to avoid professional comments because it is outside our territory).

Did you catch the Charleville hotspot prediction (on ABC radio yesterday)- I think it was Terry Ryder. Might fit in with your bush theory.
 
Coral Cove has had a bit of a bumpy ride over the last few years. Bit of an oversupply of houses and land should be right in a year or two...

Did you catch the Charleville hotspot prediction (on ABC radio yesterday)- I think it was Terry Ryder. Might fit in with your bush theory.

Seems like Coral Cove lacked a proper master plan, required a defined entrance statement, and went stale with the marketing at that time ?

Missed the Charleville piece, but we are more focused on regional WA atm. We had a go in Mt Isa but it looks like we fried two builders in the process. They are both struggling to get their heads around the logistics of building up there.
I was told country Qld folk are different, now I have proof...

KEvin.
 
Iga

The Burnett Heads IGA site is levelled and filled (filled and levelled?) and there is a billboard sign- I was out there a week ago.

Bargara Woolies opened to great fanfare last week and we got our first set of traffic lights...
 
So how are things going down at Bargara?

We are heading down to have a look around and also have a look at Moore Park Beach and the general area.
We have booked a room at "Pacific Sun Motor Inn"

Will let you know what I think of the place on Monday...
 
Bundy, Bargara and Moore Park Beach

Well we are here...
On the way to the motel we stopped and had breakfast in Bundaberg.

I really liked it... A lot of old buildings, but the people were very friendly.
RE was very well priced too. I saw a house I liked for $275,000.
On the way into town there is a lot of new houses being built... Average price I would say was high 300's.

Found our way to the motel in Bargara and started to have a look around. Very nice area, and they now have a very nice shopping centre with a beautiful big woolworths and also IGA very close (good for competition)

We then went for a drive up to Moore Park Beach... the first thing I noticed was that there is nothing there!
Very nice beach and only about 20k back to Bundaberg... which is good because I think that is where you would be going to work and shopping!
Prices in the RE were in the $150,000 and up for land.
If you want to use your mobile, you have no choice but to get nextG as both Virgin and Optus do not get a signal there.

So far I think Bargara is in front with the amenities...

We will go and have a look around Elliot heads tomorrow, so will let you know more then...:)
 
Code:
We then went for a drive up to Moore Park Beach... the first thing I noticed was that there is nothing there!
Very nice beach and only about 20k back to Bundaberg... which is good because I think that is where you would be going to work and shopping!
Prices in the RE were in the $150,000 and up for land.
If you want to use your mobile, you have no choice but to get nextG as both Virgin and Optus do not get a signal there.

Lack of infrastructure is definately a problem, but as stated there are plans for a supermarket and 14 specialty shops which will greatly help the area, I would expect an improvement to mobile services at this stage also, we have actually had some discussions with Optus re a mobile tower. Things move slowly up there, but it will all happen.

It's defiantely not as developed as Bagara, but it has a ton more potential.
 
We went and had a look at Elliot heads while we were down there... All I can say is WOW.

I know there is nothing much there, but that beach is just fantastic.

They had a petition getting signed near the beach to stop a large developer from developing a large part of Cane farm land.

And I also saw a lot of "Save our foreshore" signs.

I'm interested to hear any info about this "Big Development"

Does anyone know anything??
 
My wife's parents live in Bargara and we also took a drive down to Elliot Heads when we were there at Christmas and had the same experience as Miss Muffitt. Blown away by the quality of the area, but surprised at the multitude of the save our foreshore placards on every fence.

We put it on our "interesting potential" list of suburbs. But we're a bit busy at the moment so won't be doing anything around Bundaberg anytime soon.

:D
Michael.
 
Burnett Heads Port plans

Hi all,

Channel 7 Wide Bay has a story on tonight regarding all the plans Brisbane port authority has for Bundy's new look port and surrounds, for anyone interested....

Wharves, retail, all sorts of goodies....

Yay for me..

D.
 
Bummer, new I shoulda bought one of those houses with a jetty a few years back

Its just such a crap place to sail out of, nowhere to go for 70nm

Cheapest Diesel on the QLD coast at the Marina though

Dave
 
Hey BoatBoy

Howz the cats progress coming along?
Have they jacked resin prices etc much this year?

FYI

If you are interested in canvas work, or if you decide to rig the boat, I have one brother with a new sail loft in his back yard at Innes Park.

The other brother has just taken over North Sails (Mona Vale), canvas division to get it back up to speed after some years of having none.

Cheers
pendo
 
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