Bundy’s boom for market bargains
FIRST home buyers looking to make their mark in Bundy’s property market are encouraged to take advantage of the record-low interest rates and property prices.
Ray White Bundaberg City’s office manager and selling principal, Warren Hitzke says now is the best time to buy.
“Now is definitely the best time to invest before property prices start to increase,” Mr Hitzke said.
“I can’t see property prices dropping further as there is excellent buyer demand in the market at the moment.”
Mr Hitzke said while all of Bundaberg is performing well at the moment, Ray White has witnessed valuable properties in the western suburbs.
“All suburbs in Bundaberg have some good value for first home buyers if they are quick enough,” he said.
“Ray White has had some affordable homes in the Kalkie and Norville suburbs.”
The selling principal added that Bargara, Branyan and Burnett Heads had performed well over the last decade.
“Over the past week we had three properties go to multi offers and in all of those situations out of town buyers were winning the properties as they see better value than the local buyers,” Mr Hitzke said.
“I believe local buyers need to be more aware of the current market conditions and that is showing positive signs or they could find them selves missing out on the property of there dreams.”
Synergy Property Specialists’s principal Time McCollum said first home buyers should consider all areas and assess each home on their individual merits and the sooner they get into the market, the better.
“First home buyers and all buyers should look at the property that fits them the best, that appeals to them the most and make every effort not to over extend themselves,” Mr McCollum said.
“First home buyers also need to compare the cost of renting with buying and understand over time rents will continue to rise however a mortgage commitment will come down over time as the loan is paid down.
“Population growth along with teenagers becoming adults will ensure rents will increase and at some point so will house prices as people move from paying rent to paying a mortgage.”