There are 3,740 people and just under 1,500 homes in beautiful Bunbury, Census data shows. Here at Ray White Bunbury we do our very best to get to know each and every one of the people here, and of course their properties.
To that end we've crunched the numbers on Bunbury's property market, to give you an idea of where things lie right now.
Over the year ending October 2016 the average sale price for a home in Bunbury fell by 3 per cent, before rebounding and increasing by the same amount the following year, according to Residex. At the moment prices appear to be trending upwards and the average home here costs just $546,000.
Units or apartments on the other hand, make great property investments or first homes and cost $310,000 on average. With a yield of 6 per cent or more, such properties are perfect for beginner investors. For comparison the Real Estate Institute of Western Australia lists the median price of a house in Perth at a whopping $850,000!
In Bunbury more people own their homes than in the capital cities. This means you're more likely to know your neighbours and feel a strong sense of community if you live here – something every local enjoys.
For example, in Perth only 36.2 per cent of people own their properties, or are in the process of purchasing them (while the rest rent). Here in Bunbury, on the other hand, REIWA data shows that almost 60 per cent of people own their properties.
Bunbury's property market can be described using a word that's not accurate for most in Australia – affordable. Despite that fact some parts of the region are more expensive than others – the accurately and amusingly named Money Street in particular. This street is home to some of Bunbury's more premium homes and sports a median price of $959,102, according to Residex.
For the cheapest properties in the city, however, you should look to Forster, Ednie and Hayes street s or Wexford Lane, which all have a median house price under $390,000.
If you're looking for a home, few places are as welcoming or affordable as Bunbury. To sell your property, or get a helping hand with your house hunt get in touch with the team here at Ray White Bunbury.