The Weekly Real Estate from Coast to Country, April 11, 2024

First-home buyers boost

By Jo Kennett

WHILE THE home of your dreams may still seem out of reach, there’s a good chance your borrowing capacity will soon increase by tens of thousands of dollars, with analysts saying it’s a good time to buy.

Australia’s big four banks, CBA, NAB, Westpac and ANZ, are all forecasting at least three 0.25 per cent cash rate cuts by the end of 2025, with one bank predicting there could be as many as six by then.

The latest research

from Canstar shows that someone on an income of $98,218 would see a $27,000 boost in their borrowing power if the Reserve Bank delivers on those cuts.

That increase in capacity could see buyers able to borrow up to $419,000 compared to $392,000 now, while for a couple the $63,000 difference means being able to borrow $969,000 after rate cuts compared to $906,000 now. If there were six rate cuts by the end of 2025,

singles could see their borrowing power rise by nearly $60,000 and couples by $134,000.

However, Canstar finance expert Steve Mickenbecker warned buyers that potential property price rises could mitigate the benefits of waiting for interest rate cuts.

“First-home buyers don’t have the luxury of waiting as they grapple with weighing up the borrower’s power recovery against rising home prices,” he said.

“New buyers should look into all the options available to them to get a foothold.

“It can make a difference to put savings into a high interest account, maybe even the government’s First Home Super Saver Scheme and investigate stamp duty exemptions, grants and shared equity options.

“Anyone looking to buy will also need to be selective about their loan choice. It’s about getting the lowest rate offer to maximise their borrowing capacity.

“Rate cuts will deliver a release from the holding pattern as buyers will be able to borrow more.”

Hot property

OUR HOT Property this week is truly special. Not only is it a beautifully renovated historic charmer, this rural haven is just minutes from Kirra Beach and all the action and excitement of the southern Gold Coast and Tweed Heads.

Number 19 Quambie Road, Cobaki, is a four-bed, three-bathroom home on 3.43 hectares with a large saltwater pool, a tennis court with lights, a spring-fed dam, horse facilities and everything you need for funfilled, happy days.

Built in 1880, the property has been tastefully renovated while preserving its historic charm, with hardwood floors throughout.

It’s near the M1, for an easy trip to Brisbane, the Gold Coast or Byron Bay.

The property is zoned RU2 with diverse potential uses appealing to those seeking innovation. It has 33 solar panels and a 8.2kw inverter

It has a four-bay farm equipment shed, fruit trees and raised garden beds, a flat riding area and a spring fed dam.

Ducat Park is on the market with Guy Ethell at Real Specialists Coolangatta so give him a call if you would like to take a look at this beautiful property.

Relief is in sight for first-home buyers

THREE HECTARE HAVEN JUST MOMENTS FROM WORLD CLASS BEACHES

19 Quambie Road, Cobaki

Ducat Park offers a charming opportunity for a tranquil lifestyle, either as a permanent residence or a retreat from urban chaos, with caretaker accommodation included. Originally built in 1880, the property has been tastefully renovated while preserving its historic charm. Located in Cobaki, it promises ample recreational activities such as swimming, tennis and beach outings, just a short drive away from Kirra Beach. For the boaties Lakes Drive boat ramp is just 8 minutes away. Positioned conveniently near the M1, it facilitates easy travel to Brisbane or Byron Bay. The property's zoning as RU2 offers diverse potential uses, appealing to those seeking innovation. Additionally, with 33 solar panels and an 8.2kw inverter, self-sufficiency becomes a viable option. Notably, Ducat Park's proximity to amenities like Gold Coast International Airport, universities and hospitals enhances its appeal as a desirable coastal rural property. For the boaties Lakes Drive boat ramp is just 8 minutes away.

FOR SALE - PRICE GUIDE $2,950,000

402/275 GOLDEN FOUR DRIVE, BILINGA

3 2 2

SOPHISTICATED COASTAL LUXURY LIVING

INSPECTIONS BY APPOINTMENT

Welcome to Bianca, where coastal luxury awaits you! Set within an exclusive complex of just thirteen residences, Bianca offers the pinnacle of beachfront living. Step inside this modern sleek 192m2 retreat to discover three bedrooms, two bathrooms, and premium finishes throughout, combining contemporary design with seaside comfort. The expansive living area seamlessly connects to a stylish kitchen equipped with high-end appliances. Step out onto your private balcony to soak in breathtaking ocean vistas, encompassing the tranquil coastal ambiance and the lively Coolangatta skyline. Whether you're seeking a permanent sanctuary or a luxurious holiday escape, Bianca presents an opportunity to own your own slice of paradise!

52

GRASS

TREE CIRCUIT, BOGANGAR

LOW-MAINTENANCE COASTAL HAVEN

INSPECTIONS BY APPOINTMENT

Escape to your own piece of paradise with this stunning coastal lifestyle retreat. Nestled amidst lush greenery and only a short stroll from the beach and boutique village, this property offers the perfect blend of tranquility and convenience. Step into a world of comfort and relaxation as you explore all that this home has to offer. Expansive interiors, ample space and sparkling pool for relaxation and entertainment. Featuring luxurious high ceilings in dining, open plan flow to outside undercover alfresco that is screened for all year use. Benefit from the enviable, laid-back coastal lifestyle and make this exquisite property your new sanctuary

110 Caloola Drive Tweed Heads

From the moment you step inside you will truly appreciate the cozy living and simple elegance that originates from the rustic accents of the internal brickwork, complimented by raked ceilings with exposed timber beams of this Australian Country style inspired (3) bedroom residence.

A lovely welcoming home with real character and charm that also offers upside to those that may wish to add value by modernizing to the current era, if so desired.

Properties within this area are extremely tightly held and with good reason. Likely to attract strong interest.

• Formal living w/ traditional open fireplace

• Air-conditioned meals area

• Colonial style kitchen w/ a safe watch over the pool area

• Master bedroom w/ ensuite, built in robes & access to rear garden

• Bedrooms (2) & (3) are also generous with built in robes

• Double garage (one side automatic) w/ painted flooring, internal & side access

• In-ground swimming pool (brand new chlorinator)

• Fully fenced sectioned rear yard, garden, entertaining area & pool enclosure

6/24-26 Dutton Street Coolangatta

Welcome home to a light filled (3) bedroom 1st level residence boasting a generous open layout and expansive terrace style balcony overlooking Goodwin Park.

Nestled within a boutique building comprising just (9) residences and constructed in 2009, your coastal abode offers an exclusive and intimate living experience.

With the added benefit of two allocated side by side car spaces and within 100m to Coolangatta CBD, this property presents the perfect balance of tranquillity and accessibility, promising an unparalleled lifestyle for those seeking an ultimate coastal retreat close to all amenities.

• Tiled living & separate dining zone

• Social kitchen w/ dishwasher

• Master bedroom w/ ensuite & built in robe

• Bedroom (2) w/built-in mirror robes

• Bedroom (3) has built-in mirror robe & also opens up to facilitate a multi-purpose room

• Euro-style laundry

• Ducted air-con & split system in bedroom (3)

• Generous terrace style balcony overlooking Goodwin Park

• Secure basement parking for 2 vehicles (side-byside)

• Pet friendly