House prices will resist water woes, says agent and resident
HOMEOWNERS in Svensson Heights may be concerned about their house prices after the PFAS chemical was found in a bore that supplies water to the area.
The prices of homes in towns such as Williamtown and Salt Ash, near Newcastle, NSW, plummeted after the contaminants were identified in those communities.
But, Century 21 Real Estate agent Patrick Leahy believes it's not likely to have an impact here.
Mr Leahy, who also lives in Svensson Heights, said the suburb had always been a popular area to live and buy in.
The area attracts investors, families as well as older buyers.
He said prices would remain stable because authorities had already fixed the problem.
The real estate agent said areas across Bundaberg always seemed to bounce back after adversity.
"Parts of this town, north, east and south, flooded and are all creeping back to the 2005 price mark," he said.
Mr Leahy said other real estate areas may have been hit harder but Svensson Heights had a variable and affordable market price.
"If it was Ashfield it would be a different story," he said.
The average price for a three-bedroom, one-bath and a shed built in the sixties was between $230,000-$270,000."
For potential buyers looking to live or invest in the area, MrLeahy said he'd tell them it was safe now and the issue had been dealt with.
As a Barnes St resident MrLeahy lives in the PFAS-affected area and said at this stage there was no need for concern.
"We have all the services close by and to me this is the best suburb in Bundaberg to live in," he said.
"This will have a short-term impact unless there's a medical impact.
"They (the officials) seemed to have got on top of it straightaway.
Until a cancer cluster or the likes comes out, we will just wait and see."
As a long-term resident he was concerned more about his children than himself. There were more concerning things at the moment, he said. "I'm more concerned about the drainage in the area," he said.
"And the rates in this town need to be looked at as well."
Mr Leahy won't be putting his house on the market any time soon.
"I'm confident, I love Svensson Heights and I'm not selling my property," he said.