The City of Bunbury's 2015/2016 budget was recently adopted by council last night, and its provisions will have important implications for both those looking for houses to rent in Bunbury, and anyone thinking of purchasing real estate in the area. The $75.7million budget sets aside funds for a number of projects that will improve the liveability of the region while keeping within the boundaries of fiscal discipline.
Among the initiatives slated to proceed is the first stage of a water playground and the completion of the Hay Park Multisports Pavilion. Projects such as these will serve as ideal locations for Bunbury residents to spend their leisure time.
In addition to this, the budget aims to improve local infrastructure, with footpaths, roadworks and Bunbury airport all set to receive a vital upgrade. The George Baxter boardwalk will be replaced, while 600 metres of Koombana Drive will be reconstructed, costing a total of around $4million. A further $3.8million will go toward the construction of a roundabout at the Jeffery Road and Vittoria Road intersection, the redoing of Pennant Road and the installation of traffic lights at the intersection of it and Sandridge Road.
Bunbury Mayor Gary Brennan viewed the budget's plans as essential for the legacy the city will leave for its current and future residents.
"We are entering another exciting period in our city's development and growth as we continue to build on the solid work of previous generations to provide more opportunities for current and future generations," he said.
"Investment enquiries have increased during the past 12 months and with council facilitating growth, I anticipate private investment in some large construction projects to escalate."
The majority of the funding for the project will come from a modest 3.5 per cent rate increase. While no one likes a rate rise, the potential increase in value of Bunbury real estate once these projects are completed may well offset this hike.