I can’t help feeling here in mighty Bundaberg hub of the Coral Isle, we are 10 – 15 years behind Townsville. I spent many years in Townsville growing up & the first thing that attracted me to the Coral Coast in particular the Bundaberg Region, was how much it reminded me of Townsville as a child. It really was like stepping back in time. Have a look at how far Townsville has come today. I truly believe you will see the same progression in and around Bundaberg. Lets compare:
Townsville – current population 170,000 (Since amalgamation of councils)
Bundaberg – current population 100,000(Since amalgamation of councils). Townsville’s population was equivalent 2001
Townsville was Founded – 1865
Bundaberg was Founded – 1879
Surrounding Islands of Townsville- Magnetic, Orpheus Hinchinbrook
Surrounding Islands of Bundaberg – Lady Elliot, Lady Musgrave, Fraser
Townsville Industry – Sugar (one hour drive)Burdekin Bundaberg Sugar- In City region itself
Townsville Port – 100 km away Bundaberg Port – In City itself
Main attraction to Townsville – Great Barrier reef – 84.1 miles Main attraction to Bundaberg -Turtles encounter
Townsville sometimes has Surf – Magnetic island arcadia Beach Bundaberg regularly has decent surf – Bargara & Agnes Waters
Bundaberg is rich in agriculture which has proven to continue stimulating the local economy through the GFC & our famous floods. Our centre is surrounded by many amazing beaches, creating the perfect investment opportunities as well as a great place to raise a family for owner occupiers.
I think it’s the mentality of the people in Bundaberg that remind’s me of Townsville the most. Although Townsville’s vibe and the people who live there, have changed over the years, Bundaberg is as Townsville was. Our mentality is still very community orientated & city still progressing. We have not near reached our peak in capital growth.
I believe any property bought “right” (please work with a reputable agent who understands the local market & each area’s viability) in Bundaberg within the next three years, will see you with irreversible capital growth. Meaning if we were hit with another economic or environmental drama say in year four or five after you purchased your property, it would at worst hold valuation at that time, not drop.
But hey don’t rely on my research, start digging, do some of your own. After all spoon fed buyers usually end up behind the eight ball!