Bargara Property Market Update 2nd Half of 2019

In Q3 2019, Bargara and the Coast recorded a median house price of $372,000, and a median unit price of $345,000. This represents annual (Q3 2018 – Q3 2019) median house price growth of 3.8% and a softening for units of -6.6%. Between Q3 2018 – Q3 2019 total house sales slowed by -10.3% (to 70 sales), but total unit sales increased, by 68.2% (to 37 sales). Now is an ideal time to transact in the market, as both buyers and sellers can benefit.

Average vendor discount between Q3 2018 and Q3 2019 has widened for both property types, to -6.7% for houses and -4.9% for units. Market conditions in Bargara and the Coast continue to favour buyers, where sellers are willing to negotiate below their initial listing price. Now is the time to enter the market.

Over the past 12 months house rental yields in Bargara and the Coast significantly increased, to reach 5.0% in June 2019. This suggests the house rental market is in a healthy position, especially as house median rental price increased by 1.4% to $350 per week. Investors are encouraged to invest in Bargara and the Coast and take advantage of substantial rental returns. 

4+ bedroom houses have provided investors with +2.6% rental growth annually, achieving a median rent of $390 per week.

Bargara and the Coast recorded a low trending vacancy rate of 1.0% in June 2019, well below Bundaberg LGA (2.3%) and Brisbane Metro (2.5%). There is a healthier rental demand in Bargara and the Coast, further good news for investors.