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Rise in Property Market Values for Bunbury

By Kevin Kelly

Properties in Western Australia have continued to show great results, with a rise in value of homes. This is great news for anyone who owns Bunbury rentals and real estate in the area.

Real estate in Bunbury has seen regular advancements, indicating a recovering market and greater levels of confidence from buyers and renters.

During the June quarter of 2013, the urban area of Bunbury saw median sale prices rise to $370,000 – a 1.8 per cent increase from three months ago and a 2.8 per cent rise from a year ago, according to information from the Real Estate Institute of Western Australia (REIWA).

These numbers are right in line with regional Western Australian property values, which were at $375,000 for the June quarter.

This growth is particularly encouraging in light of the fact that Perth's metropolitan area did not see any rise in median sale prices over the past three months.

Similarly, the median weekly rent in Bunbury's urban area, which came in at $350 for the June quarter, experienced a 2.9 per cent increase from 12 months ago. 

With a vacancy rate of 2 per cent, Bunbury's rental market has tightened, which is good news for current investors  of real estate in Bunbury, as the value of their properties has been boosted by the market conditions. 

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