A recent report by Yahoo Finance about regions in Australia considered to have the best upside potential for the short- and medium-term included Port Hedland, Newman, Karratha and the coastal city, Bunbury.
The Bunbury property market is benefiting from Western Australia’s rebounding resources sector, according to Alec Marra, Managing Director, Raine & Horne Bunbury. “Our market is profiting from the combination of our region’s affordability and the major investment in infrastructure,” Alex said. “Entry-level three-bedroom properties start from $280,000 and can earn rents of about $280 a week.
“Our region’s affordability has tipped off a resurgence in first home buyers while investors also have an eye on the infrastructure improvements and our competitive investment yields.”
Bunbury’s headline infrastructure improvements include the long-awaited Bunbury Outer Ring Road and Albemarle Corporation’s lithium hydroxide manufacturing plant in the Kemerton Strategic Industrial Area, 17 kilometres north-east of Bunbury. The plant will produce 100 operational jobs, increasing to 500 jobs at full operational capacity.
Apart from the new lithium plant, Bunbury’s famous Dolphin Discovery Centre received a multi-million-dollar facelift. The improvements also included a revamped jetty and other enhancements. Alec adds, “Our upgraded infrastructure is attracting more tourists to Bunbury and the extra money is finding its way into the economy and in turn the real estate market.
“We just need the banks to pass on the full extent of the Reserve Bank’s rate cuts and the Bunbury market will come into its own.”
To find out more about buying and selling real estate in Bunbury, contact Raine & Horne Bunbury on 08 9791 2222.