Bundeena Property Insights - Sept 2024
Bundeena, NSW 2230: A Hidden Gem in Southern Sydney
Bundeena, located on the edge of the Royal National Park, offers a unique mix of natural beauty and a relaxed coastal lifestyle. Spanning approximately 2.2 square kilometers with five parks making up 15.6% of the area, Bundeena has remained a small but steadily growing community. The population increased slightly from 1,895 in 2011 to 1,906 in 2016, and the predominant age group is between 50 and 59 years.
Housing Market Trends
Bundeena’s housing market has been stable, with a slight decrease in property values. As of August 2024, the median house price is $1.43 million, representing a 10.4% drop from the previous year. Despite this, the suburb saw 26 house sales over the past 12 months, indicating continued interest. The median asking rent for houses is $750 per week, with rental yields at 2.9%, making it a solid option for investors.
The price range for houses in Bundeena varies widely, with the upper quartile at $1.88 million and the lower quartile at $1.20 million, appealing to both mid-range and high-end buyers. Houses stay on the market for an average of 61 days, suggesting a balanced demand.
Unit Market Trends
Units in Bundeena are relatively scarce, with only 6 properties sold in the past year. The median unit price is $1.18 million, with a 13.6% increase compared to the previous year, indicating growing demand. The median rent for units is $500 per week, with rental yields at 2.6%. Although the market is small, it offers opportunities for investors looking for growth in this niche.
Land Market
The land market in Bundeena is minimal, with just 1 property sold in the past year. This reflects the limited availability of land in the area, making it a valuable commodity for future development.
Demographics and Lifestyle
Bundeena is a suburb for those seeking a quieter lifestyle, with childless couples making up 42.9% of households. It also attracts couples with children, who represent 41.8% of the population. The suburb’s population leans toward older age groups, with a significant portion aged 50 and above.
Bundeena’s unique location and strong sense of community make it an attractive place for professionals and retirees alike.
Investment Potential
Despite the recent dip in house prices, Bundeena remains a desirable market for both homebuyers and investors. With its natural beauty, proximity to Sydney, and potential for rental income, the suburb offers solid long-term growth prospects.The land market in Taren Point is extremely limited, with only 3 properties sold in the last 12 months. The median price for land is $948,000, but the low volume of transactions makes trend analysis challenging. However, the scarcity of available land makes it a valuable commodity in this desirable suburb.