LJ Hooker Bundaberg has experienced a huge jump in rental listings due to Queensland’s popularity with interstate buyers.
The Announcement:
A thriving south-east Queensland property market has delivered LJ Hooker Bundaberg with almost double the number of new rental listings during the past quarter.
The affordable regional hub has seen a boom in its popularity – both locally and interstate – with an increasing number of property investors buying sight unseen during the pandemic. It is possible to purchase a three-bedroom home in the area for around $350,000 which earns around $400 per week in rent.
Emily Gordon, Business Development Manager for LJ Hooker Bundaberg, said they listed 75 new rental homes during three months from July 1 to September 30 – well above their target of 45.
Demand is so high all of these were tenanted before the recently sold properties had settled.
“I have never experienced anything like it during my 14-years in the industry not even after the floods,” Ms Gordon said.
“Even with the borders closed, we are seeing a higher number of people from the city areas come up to the region in search of lifestyle and affordability and we expect it to become even busier when we open up to the other states.”
“We have beautiful sunshine and the best beaches in Queensland – so why not come up here and rent – and why not do it with Australia’s leading real estate network.”
The number of homes for sale in Bundaberg has doubled in the past 12 months with prices increasing by 20 percent.
Ms Gordon said interstate buyers can see potential and growth in the region – with technology giving them the confident to purchase from a video inspection.
Recent sales through LJ Hooker Bundaberg include a four-bedroom home on 795sqm at 2 Neville Drive, Branyan, which sold for $350,000 and a three-bedroom home on 506sqm at 15 Short Street, Bundaberg South, which fetched $240,000.
During the past quarter rents have been increasing between $20 to $100 a week.
Strong job opportunities in the health, hospitality and agriculture sectors is also proving to be a drawcard to the region. Short term leases are also expected to increase over the holiday period.
“Bundaberg is a very good selling and rental market – tenants are finding the home they are currently renting is being listed so they have to move out and then they are moving into the properties we are acquiring,” Ms Gordon said.
Ms Gordon works alongside colleague Kate Hutchinson in facilitating the interstate sales and ongoing rental management. They have now set themselves a triple figure target for the next quarter.
LJ Hooker Bundaberg has been a prominent office in the Bundaberg and Bargara areas for more than 38 years.
Source: LJ Hooker Group
