Banora Point
IN THIS ISSUE OF REAL ESTATE NEWS;
› Record sales in Oxley Cove, Banora Point (P2)
› A fresh update for shoppers (P2)
› Market update for Banora Point (P3)
Record Sales in Oxley Cove, Banora Point
The Exclusive ‘Oxley Cove’ has increased in popularity from prospective buyers and is edging closer to the sale prices achieved for neighbouring waterfront homes found in Endless Summer & Crystal Waters, Tweed Heads.
This was evident with the sale of (2) superb waterfront homes by David Stringer at DJ Stringer Property Services totalling $4,525,000 that sold within a few weeks of being listed for sale.
6 Admiralty Place - just sold
96 Old Ferry Road - just sold
Both properties attracted strong enquiry with good attendance at open homes and internet visits surpassing 7,700 in just a short time.
Suffice to say, there were many potential buyers that missed these opportunities. Therefore, if you are considering selling, regardless if you are on the water or on a dry block, then start your planning now with a complimentary property consultation today.
Banora Shopping Village undergoes exciting new Redevelopment
Banora Shopping Village is set to undergo a significant redevelopment to enhance the shopping experience for the Banora Point community. This fresh transformation will introduce a brand-new Woolworths Supermarket, complete with a Direct to Boot service, improved car parking facilities, and upgraded modern amenities.
Shoppers can also look forward to a fantastic new outdoor dining area. The redevelopment will necessitate the demolition of some existing retail stores and the temporary closure of certain parking areas. However, these changes are part of a broader plan to create a more convenient and enjoyable shopping environment, and the construction of a larger supermarket.
The new amenities will feature enhanced bathroom facilities, new facades, awnings, branding, and signage, all designed to improve traffic flow and shop activation. We look forward to the unveiling of a refreshed Banora Shopping Village soon.
96 Old Ferry Road in Oxley Cove
6 Admiralty Place in Oxley Cove
Banora Point Property Market Booms with Significant Growth
Banora Point has experienced remarkable growth in its property market over the past five years.
The suburb, which boasts 8,205 properties, has seen median house values soar by 70.11% and unit values by an impressive 76.89%. As of May 31st 2024, the median house price in Banora Point stands at $1,001,088, while units have a median value of $706,784. Rental prices have also risen, with homes averaging $850 per week and units $680 per week.
The number of sales for the last financial year, recorded by Corelogic, was 441, which is slightly up from the previous years, which recorded 391 for 2022/23 & 427 in 2021/22.
Currently, the market remains extremely active with strong buyer demand & just 62 properties currently on the market for sale, which is a mere 0.75% of the total number of properties within the region.
Street Tree Planting
Point's property market continues to thrive, attracting a wide demographic of potential buyers from first homeowners, right through to retirees. This is due to its more affordability, compared to most of the Southern Gold Coast and the immediate access to major conveniences, education & sporting facilities, all within (15-20) minutes to the beach.
TWe anticipate sale prices & property values will continue to climb in this popular area during 2024, fueled by strong demand from both local buyers & record interstate migration and the continuation of limited stock levels, which should excite sellers.
weed Shire Council will be planting trees along Covent Gardens Way, Banora Point, to provide much-needed shade for pedestrians and promote active travel. Arborists will assess each site for suitability, ensuring safety and infrastructure compatibility. Planting is scheduled for winter 2024, subject to tree stock availability, with a potential extension to winter 2025 if necessary.
Banora
