Tweed Coast property prices a mixed bag
By Jo Kennett
THE TWEED Coast property market has been all over the shop over the last 12 months, according to data from realestate.com.
Casuarina houses and units are down but still too high for most of us, while Kingscliff houses are down but units are up. Bogangar has seen a slight rise in house prices but a huge rise in the price of units over the past year, while Pottsville houses are slightly up but unit values are down.
Pottsville houses increased four per cent in value over the past 12 months, to a median price of $1.3 million.
At the peak of the pandemic ‘let’s get the heck out of town’ seachange madness, in October 2022, homes in Pottsville were $1,459,000, so we are well down on that at the moment.
Pottsville units are at an incredible median of $865,000, but that’s actually down, though only 0.9 per cent over the past year when they reached a peak of $900,000.
Last month Pottsville had 29 properties available for rent and 43 properties for sale.
Houses in Pottsville rent out for $850 per week with an annual rental yield of 3.3 per cent. Units rent for a median of $650 per week
with a rental yield of four per cent.
Median property prices in Bogangar over the last year ranged from $1,410,000 for houses to $770,000 for units, a rise of 2.5 per cent for houses and a whopping 32.8 per cent for units. Caba units have been on a crazy roller coaster ride from $845,050 at peak pandemic then plummeting to $570,00 before surging again.
Last month Bogangar had 24 properties for rent and 27 for sale.
Houses in Bogangar rent out for
Open Homes
Saturday, July 6
First National
• 1 Collins Lane, Casuarina, 9:30 -10am
• 13 Riverview Street, Murwillumbah, 10–10:30am
• 92 Castle Field Drive, Murwillumbah, 1111:30am
• 12 Condong Street, Murwillumbah, 11–
$895 per week with an annual rental yield of 3.4 per cent and units rent for $697 with a rental yield of 4.4 per cent.
The news from Casuarina, which once enjoyed some of the highest price growth in the nation, is that prices are down, down, but not quite down enough for most of us peasants.
Median property prices over the last year were $1,920,000 for houses and $833,375 for units. That’s a drop of 6.2 per cent for
11:30am
houses and 12 per cent for units.
Houses in Casuarina rent out for $1,225 per week, which would have most of us on our knees begging for mercy, but is totally doable if you have moved up from the big smoke and own, say, a brewery or a Porsche dealership. That’s an annual rental yield of 3.3 per cent, with units renting for a median of $737 with a rental yield of 4.2 per cent.
Last month Casuarina had 25 properties available for rent and 47 properties for sale.
• 4 Bruce Lane, Murwillumbah, 12– 12:30pm
• 4 Ted Brown Close, Kunghur, 12:30 – 1pm Tweed Coolangatta Real Estate
• 3/100 Dry Dock, Tweed Heads Sth 11-11:30 am
DJ Stringer Property Services
• 15 Creal Ct, Currumbin Waters 9-9:30am
• 3H/828 ‘Rocks Resort’ Pacific Pde, Currumbin 10-10:30am
• 20 Eliza Fraser Court, Terranora 10-10:30am
• 4/3 Island Drive, Tweed Heads 11-11:30am
Things have been happening at Kingscliff with the new hospital opening and staff desperate for accommodation, and a bunch of developments on the cards, with house prices down too.
Median property prices over the last year ranged from $1,805,000 for houses to $920,000 for units, down 4.9 per cent for houses but up 10.2 per cent for units. Fun fact: a three-bedroom home in Kingscliff is selling for a median of $1,560,000 while a three-bedroom unit is not much less, at $1,330,000 on average.
Last month, Kingscliff had 54 properties available for rent and 98 properties for sale.
Houses were renting for $950 per week with an annual rental yield of 3.1 per cent and units rented for $700 with a rental yield of 3.7 per cent.
So it’s a real mixed bag but prices are only forecast to increase over the next year.
With interest rate cuts now being forecast to not arrive until sometime in 2025, it’s harder to get into the market, but once those cuts start there is every chance there will be a surge in prices as borrowing capacity increases and everyone suddenly wants a slice of paradise.
• 11/3-5 Barrett St, Tweed Heads West 1111:30am
• 16/74 Greenway Dr, Banora Point 11:1511:45am Tate Brownlee
• 11 Fraser Drive, Tweed Heads South, 9-9:30am
• 16/291 Darlington Drive, Banora Point, 1010:30am
• 70 Honeymyrtle Dr, Banora Point, 11-11:30am
• 518 Terranora Road, Terranora, 12-12:30pm
• 45 Shamrock Avenue, Banora Point, 1-1:30pm
• 11 Trutes Terrace, Terranora, 1-1:30pm
Bogangar unit prices are up but there are still some bargains like this centrally located apartment for sale with Jet Real Estate
Wendy at Mana has this home for sale at 6 Park Lane, Casuarina
TWEED COOLANGATTA REAL ESTATE
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