Bunbury The Next Property Growth Hotspot ? Strong Demand & Investment Indicates Strength Ahead
Property developers and investors should consider taking a look at Bunbury as a lucrative medium to long-term investment region, as the WA government and the private sector locks in more growth in the ‘second capital’ of Western Australia.
Economic activity and investment continues to outpace much of the rest of WA, with Landgate reporting record sales turnover for Bunbury, topping the list for the highest number of house sales last year with 732 homes sold.
Bunbury Mayor Gary Brennan said there was big plans ahead and his council was seeing strong demand from population growth driven by lifestyle and economic choices.
“We know that one in three households in Bunbury is now single persons and the demand for higher density is there,” Mr Brennan said.
“There are young professionals moving to Bunbury for employment opportunities as well as a growing downsizing population who want more variety in apartment and townhouse living.”
Ventrua Home Group’s Adam Schaal was excited by the possibilities of Bunbury as a place to build and invest.
“Bunbury is in an exciting growth an transition stage, now is the perfect time for investors to beat the potential price rises. The data also confirms that for first, second and third home buyers in Bunbury, their long term home is a sound investment.”
“It’s time to strike and take advantage of this wave of growth,” Schaal told WA Property News.
WA Property Council agrees, with executive director Joe Lenzo believing Bunbury would see a “wave of population growth” from the Perth area in the years ahead.
“It won’t happen overnight, but as the city continues to urbanise with higher-density buildings, particularly in the waterfront precinct, and hotels and retail developments, the people will come,” he said.
The opportuntity for an investment in rail between Perth and Bunbury is on the cards in the coming years, “I think Bunbury’s population is now in a position to start serious discussions,” Lenzo said.
More from The Sunday Times.