Richardson & Wrench continue to expand their network in key Queensland markets with the opening of a new franchise in the regional city of Bundaberg.
R&W representation on the coast now extends from Coolum to Noosa, Hervey Bay, Bargara Beach and Bundaberg.
R&W Bundaberg will be operated by Driss Doukari. Managing Director Andrew Cocks said the addition of the Bundaberg office was in line with its strategy of opening new offices in mature, stable markets with established local agents.
“Driss has carved out an extremely successful career in the seven years in which he has been selling real estate in Bundaberg,” said Mr Cocks.
“He has an excellent track record in Bundaberg, and having grown up in the city, left to explore new ventures and returned, has long-standing social and business networks. Real estate is a people business and Driss is a natural people person.
“Bundaberg is very much on the radar of both baby boomers and young families looking to swap the fast pace of the city for a better quality of life,” said Mr Cocks.
With little price movement in the past decade, Bundaberg has the drawcard of affordability, allowing downsizers to sell the family home and acquire a comfortable waterfront abode with cash to spare.
It is reported that for investors Bundaberg is one of the tightest rental markets in Queensland, with two point two per cent vacancy and rents steadily rising year on year.
Median rent for a three-bedroom home was $300 per week in the December quarter, with a median house price of $285,000 – little changed over the past five years.
“Richardson & Wrench has a great name and there are obvious advantages in aligning with Australia’s oldest real estate group, which is so well recognised,” said Mr Doukari.