
In the short term no, but if rising fuel prices don’t go down, yes it could definitely have an impact on the property market and rental market here in Bundaberg and other areas around Australia. If you’re looking at purchasing a property on the outskirts of Bundaberg and not close to town, the cost of coming into Bundaberg or going to work is definitely going to make a difference each week to the back pocket.
The same with obtaining materials for renovations and building homes, if the cost of fuel increases, so will the cost of materials. This area has already been impacted by the number of homes built and the shortage of materials and shortage of tradesman. If the cost doesn’t come back down to what it was prior or some sort of normality, then the property market and the rental property market will most definitely be impacted.
Homes that are close to all amenities will be most sort after, because many buyers will decide to remain in the town area, rather than buying elsewhere or further away, due to fuel prices. Though this could have a positive effect on homes close to the CBD and they may even increase if the costs of fuel keep’s rising and rising over the next 12 months.
For those that are looking for rental, this will definitely have an impact in finding a suitable home close to amenities, rather than living on the outskirts or out of town. Not only with rental increases, the cost of fuel on top would have a double impact. The rental market has a shortage of suitable homes available, this will certainly make the situation worse if fuel prices don't start dropping soon.