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Bunbury Market Update

June 2nd, 2017

Bunbury Market Update

Bunbury Market Update

How is the market in Bunbury? Well when looking at the market we have to look at price point of properties. Has the Market dropped? Well yes after the mining tax it has been a very fragile market. But this is not new news! There was a flood of properties on the market to begin when people had no choice but to sell. Now we are seeing that there are properties that have been sitting on the market for long periods of time. Why is this? Because either the owners have high expectations or they have been promised a price by an agent to gain the listing. It is so important when listing to gain a proper understanding of where the market is and as an agent we do have to have tough conversations. However, this is part of our job and we are here to help the owner achieve their end goal. Another aspect is when you look at the statistics below the market has been changing quite rapidly, which means that when you list your property and have it listed for 3-4 months the market has changed but, have you updated your asking price to reflect this? Bunbury Market Update

It is imperative that we understand the trends of the market in our area and your agent should be able to discuss this with you.

Area Profile

The size of Bunbury is approximately 5 square kilometres. It has 12 parks covering nearly 8% of total area.

The predominant age group in Bunbury is 55-64 years.

Households in Bunbury are primarily childless couples and are likely to be repaying between $1800 – $2400 per month on mortgage repayments.

In general, people in Bunbury work in a Professional occupation.

In 2006, 57.7% of the homes in Bunbury were owner-occupied compared with 53.4% in 2011.

Currently the median sales price of houses in the area is $425,000.

 

Conclusion

It is imperative to be updated on not only your properties performance and market information however also the Market that you are in. You should receive updates every 1-2 weeks at least so you stay informed and understand where your property sits in the market.

 

 

 

Disclaimer

Whilst all reasonable effort is made to ensure the information in this publication is current, CoreLogic does not warrant the accuracy or completeness of the data and information contained in this publication and to the full extent not prohibited by law excludes all for any loss or damage arising in connection with the data and information contained in this publication.
Based on information provided by and with the permission of the Western Australian Land Information Authority (2017) trading as Landgate.

 

About the Author

Celestine has been in the Real Estate Industry since 2002. She has competed in some of the most competitive markets in Australia. Combine her strong negotiation skills and keen customer service to achieve the best results for her clients.

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