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How is the Western Australian market changing Bunbury real estate?

By Kevin Kelly

When people search around attempting to find the perfect patch of paradise for themselves or their families, price often comes into the equation quite early on. Bunbury real estate is here to save the day in a hot Perth market.

Prices are often pushed higher and higher by conditions around the country, and Perth moves in similar cycles to the big players on the east coast. Real estate in Australind could well see a boost on the back of that idea.

Looking north for buyers

People selling their properties will always be encouraged to market to buyers. Those are the people who will be forking out the money, and so they are the ones you'll want to attract. In the case of Perth residents branching out and looking at more affordable property, it could be that specific marketing draws them toward Bunbury. A lower median house price is just the beginning.

The Commonwealth Bank ranks areas of Australia out of five based on what the market is doing, where a one indicates an extreme buyer's market and a five is an extreme seller's market. At the moment, Western Australia is a two, and more specifically Perth is a three – a balanced market. People looking to sell would research the market, therefore, and find the best time to list their property.

The median house price in Perth according to the BIS Shrapnel Australian Housing Outlook 2015-18 is just $579,100. While the market doesn't favour buyers or sellers, neither party is particularly disadvantaged, but expanding outside of Perth would broaden the possibilities for property purchasing.

Getting involved in Bunbury

Bunbury is a different matter altogether. Residex lists the median house price in the CBD at $547,000. In a buyer's market outside of Perth, that could lead to more people looking towards houses for sale in Bunbury.

Talk to the experts at Ray White Bunbury and see what the team can do to set you up with a lovely patch of Western Australian real estate away from an unfavourable Perth market.

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