Bunbury is the third largest city in Western Australia, and has always played an important role as the gateway to one of the state's most popular holiday regions. For many years, that was Bunbury's main claim to fame, having been overshadowed by its larger neighbours Perth and Mandurah. Times are changing though, and thanks to some truly tremendous growth, Bunbury is fast becoming one of the most important hubs in the area. This isn't just for vacations, but business and government too.
Indeed, the next decade or so could well see Bunbury become Western Australia's 'second capital', and this shift could have a knock-on effect on the local property market. So, if you own property in Bunbury, read on to find out how the city might look in 10 years time.
Bunbury has become a city of great interest to property investors
The biggest current development in Bunbury is the expansion and upgrading of the port – one of the busiest and most important in the country. This reflects the absolutely huge economic growth that the region has experienced in the recent past, with a whopping 49.6 per cent growth in GRP over the last five years. This is according to Australian Property Investor magazine, which also states that the expanded port will result in even more output.
This economic growth, along with a steadily rising population, has meant that Bunbury has become a city of great interest to property investors and commercial businesses looking to expand. Long regarded as the 'capital' of the state's southwest, Bunbury could skyrocket in terms of influence to stand alongside Perth as not just a regional hub, but a national one too.
The mission statement of Bunbury's local government is "to be recognised as the capital city of the South West region, with a strong and diverse economy offering a safe, friendly and vibrant lifestyle within an attractive natural and built environment". This is something that has arguably already been achieved, with the growing number of Australians flocking to the city indicative of its appeal.
In fact, this may actually be underselling the growth and ambitions of Bunbury, which could potentially overtake Mandurah in terms of population to cement its place amongst Western Australia's top two cities. If you own property or live in Bunbury, you're doubtless already enamoured with the place, but the growth also means good things in terms of infrastructure.
With more people comes a greater population density, and subsequently better services. Be sure to keep an eye on any developments when looking at potential investments. You never know which suburb might just become the state's most desirable.