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One growing network continues to expand its reach in key Queensland markets with the opening of a new franchise in the regional city of Bundaberg.
Richardson & Wrench has opened an office in Bundaberg, near the south-east coast of Queensland three hours north of Noosa Heads.
R&W Bundaberg will be operated by Driss Doukari, a local sporting hero who represented Australia in track and field in his youth.
R&W managing director Andrew Cocks said that R&W representation on the coast now extends from Coolum to Noosa, Hervey Bay, Bargara Beach and Bundaberg.
He said that 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,” Mr Cocks said.
“He has an excellent track record, 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.”
Mr Cocks said that with little price movement in the past decade, Bundaberg has the drawcard of affordability.
“Downsizers [are able to] sell the family home and acquire a comfortable waterfront abode with cash to spare.
“For investors, Bundaberg is one of the tightest rental markets in Queensland, with 2.2 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.”
Mr Doukari said that he elected to sign up with Richardson & Wrench on the strength of its local reputation.
“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,” he said.
“The network’s strength in the Queensland and NSW metro markets is a bonus, particularly the wider exposure it gives to interstate purchasers contemplating a move to Bundaberg or a secure investment.”
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