Bundy beaches Matusiks next hotspot!

[moyjos]

All well and good that Matusik believes it is a hotspot ( I agree that CG will probably be good there - my parents are in Bundy and it had gone up heaps in the 6 years they have been there)
BUT
How does one find out if there is a rental demand? If the houses are that affordable, doesn't that mean that people can actually afford to buy and not have to rent?

Cheers
Sue

 

[pendo]

All well and good that Matusik believes it is a hotspot ( I agree that CG will probably be good there - my parents are in Bundy and it had gone up heaps in the 6 years they have been there)
BUT
How does one find out if there is a rental demand? If the houses are that affordable, doesn't that mean that people can actually afford to buy and not have to rent?

Cheers
Sue

Hi Sue

The vacancy rate is quite tight in Bundaberg itself. I have just had my PM put an increase in for 13% for our South Bundaberg Townhouse. The existing tenant has been there 5 years, and is happy to sign a new 12 month lease.

I guess it comes down to a section of the population will always rent for one reason or another. I agree that most renters in this area possibly could buy, but don't. Or can't or won't commit, or even contemplate buying a home.

Looking at 2006 ABS statistics for anywhere in AU consistently reveals that roughly 25% of the population rent.
29.1% in greater bundaberg rent.

 

[APerry]

I'm heading up to Bundy thios afternoon to check on things at Majestic Palms and hopefully to doe some wheeling and dealing with some other significant land owners in Moore Park. If anything of interest pops up re future development of the area I will post it in a couple of days.

Regards
Alistair

 

[APerry]

Just got back from a whirlwind trip to Bundy. There is plenty happening up there, the Supermarkert and 12 specialty shops that are proposed for next to the pub in Moore Park are definately going ahead, the developer is waiting for approval to extend the size of the approved supermarket, which is going to be company operated by Metcash.

There is a DA in at the moment for some further development accross the road, which will include some further commercial development as well as residential. This won't be released for some time, so i don't expect it to have any adverse affects on Majestic Palms.

The first lot of houses will start construction in the next week or so on our development, these have already been sold off the plan, as has most of the first stage. The second stage title will be released in the next couple of months, but I don't intend to put these onto the market immediately as I think there will be a significant lift in value in the area once the supermarket is complete.

I also went through Bargara and Coral Cove for the first time. Bargara is a nice little town and there is a lot of developing going on there. However, the beaches are awful, much worse than they look in photos.

Regards
Alistair

 

[kph]

Good news Alistair,
How are the sales and prices for the area going, and hows the rental market ?
Did your discussions go OK with the other land holder ?

Sounds like the predicted potential for the area is going to be realised.

kp

 

[dheath]

Anyone know what the $%*^ is holding up the Burnett Heads IGA?

D.