Why Thabeban is the fastest selling suburb in Qld

A Bundaberg suburb has been identified as the fastest selling in the state, with homes staying on the market for an average of just 14 days.

Properties are selling out across Bundaberg as demand continues.

Not one but two Bundaberg suburbs have been named as the fastest selling in the state, according to a peak real estate property analyst.

Thorough analysis of realestate.com data by Prop Track has revealed Thabeban is the fastest selling suburb in Queensland, with houses lasting only an average of 14 days on the site before being sold.

Kepnock also proved a popular location, with homes selling in an average of 17 days.

Michaels Real Estate agent Brad Barth said the low prices for quality homes was what attracted people to Thabeban.

“They’re just well built homes and have generally been cheaper as well,” he said.

He said Kepnock offered a similar standard of home while also being in an ideal location for families with schools, shopping centres and medical centres close by.

Affordability of the properties played a part in attracting buyers as well, with Prop Track data revealing Thabebans properties averaged a sale price of $373,000, the third lowest of the top 10 selling suburbs.

Mr Barth said areas like Thabeban were attracting more people who were buying to live instead of invest, and there was also the “fear of missing out”.

“You talk to people who have been renting for years and have decided now is the time to buy,” he said.

He said the boom had triggered a rise in property prices in the area, and Thabeban prices - which were once some of the cheapest in Bundaberg - had levelled out with the rest of the city.

Ainsley Driver of McGrath Real Estate mirrored Mr Barth’s comments, and said the quality homes for affordable prices drew people not only to the suburb but the town.

He said roughly 60 per cent of buyers were looking to own and live in their newly purchased homes, and no one demographic of buyer was standing out.

The housing market in Bundaberg remains one of the most attractive in the state, Mr Driver said, with prices cheaper than other south east Queensland offerings.

He encouraged anyone looking to enter the market to be mindful of pre-approvals, as interest rates continued to climb.

“There’s so much research which can be done, and make sure you have the banks squared away and up-to-date pre approvals ready to go.”

There are dozens of homes across Thabeban and Kepnock for sale, with prices ranging from $289,000 to $675,000.

Thabeban has recorded 62 sales in the past twelve months and Kepnock a whopping 89 over the past 12 months (May 2022 – April 2023).