Record rental growth
By Jo Kennett
TWEED COAST suburbs have experienced some of the strongest growth in rental prices in the state in the last five years according to the latest data from PropTrack, which won’t come as a surprise to anyone who has been paying attention, or rent.
The new data reveals that some suburbs have increased in price by as much as 200 per cent. Beachside locations were popular for tenants seeking units, especially during Covid, which led to big price increases.
Senior PropTrack economist Paul Ryan said fierce tenant competition for available rental properties is leading to price increases across the country, with no relief in sight.
“Conditions at the moment point to continued strong rent price increases, and the lack of rental stock relative to continued strong demand means that in the short term, we will continue to see rents increase strongly all across the country, but particularly in capital
cities,” he said.
“This is tough news for renters, with these financial pressures adding to the cost-of-living increases from high inflation.”
Since 2018, regional areas have recorded the biggest rental increases nationally and Tweed Coast suburbs once again made the top ten list for growth.
Casuarina has been named as one of the top ten suburbs with the highest five-year rental price growth for houses in NSW.
Tenants in the beachside suburb were paying a median rent of $755 per week five years ago but now they are paying a whopping median of $1,295 per week.
That’s great for owners and investors, but if you are a local tenant, well, ouch.
Bogangar/Cabarita Beach came in at number two in the list of NSW suburbs with the highest five-year rental price growth for units, jumping from $420 per week five years ago to $690, an increase of 64.29 per cent.
Kingscliff came in at number eight in the top ten list for units,
jumping from $450 per week to $700, a great increase on an investment of 55.56 per cent, while houses were up 50.4 per cent from a median of $665 to $1,000.
Pottsville units were up 40.7 per cent from $430 to $605 while house rents jumped 45 per cent from $573 in 2018 to $830 now. A house in Murwillumbah rents for less than a Pottsville unit these days, up from $423 five years ago to $600, while units have jumped nearly 43 per cent from $280 to $400.
Tweed Head units have gone from $393 to $550 with homes increasing from $565 to $788.
JET Real Estate director Jason Dittmar said that the median rental for houses in Murwillumbah is up 5.4 per cent from March last year.
“What happened was in the first half of the 12 month period, rents rose dramatically, which was based on the rapid increase in property growth,” Jason said.
“They can’t increase the rent during those six or 12 month
lease periods so the catch up is really just the catch up with the value of property prices.
“The rental market in Murwillumbah has always been quite strong and vacancy rates have always been quite low.
“Until the area gets more land opened up for residential housing it will always be a supply and demand issue and that is why property prices will remain high; we don’t have enough properties to sell or to rent.”
Jason said people needed to take a longer term view of the market.
“Everyone looks to the property market in the next 6 or 12 months but a lot of people still want to move here,” he said.
“We are only half an hour from the Gold Coast Airport which puts us in a good location for anyone that wants to work from home.
“One of the first things renters want to know is how good the internet connectivity is, but the new Starlink internet means wherever you want to live you can work.
“Technology is changing the way we work and the way we live.”
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Tate Brownlee has this lovely rental overlooking Cabarita Beach
6 3 2
RESORT ENTERTAINER COMPLETE WITH VIEWS, POOL & BAR
Commanding an immediate sense of space, a revelation of quality, style and entertainment excellence unfolds from the moment you enter the property via the secure front gate. Impressive in size and features, nothing has been overlooked in creating this summer masterpiece with versatile indoor/outdoor living options that captures sweeping 180' hinterland, ocean, and Surfers Paradise skyline views within ten minutes' drive to shopping and famous beaches.
15 DALLIS COURT, DUNBIBLE
65 COMINAN AVENUE, BANORA POINT PRICE GUIDE $1,600,000 4 1 5
COUNTRY RETREAT WITH PICTURESQUE VIEWS ONLY MOMENTS TO TOWN
Privately positioned in a quiet cul-de-sac country lane setting with only one neighbour. A feeling of seclusion yet uber close to in-town convenience, with ideal northeast facing views of the surrounding farmland set on a manageable 1.87 acres. The single level, easy to maintain brick and tile residence offers open plan living, with two separate areas and undercover alfresco patio for entertaining and relaxation. Featuring an American style barn shed for plenty of secure storage. Two minutes' drive to Tweed Regional Gallery & Margaret Olley Art Centre and Guinea's Fruit, Veg & Asian Grocery Store. Ten minutes to renown Mavis' Kitchen and Cabins.
JUSTIN SCHMITH | 0422 051 505 | justin@schmith.com.au | schmith.com.au
89821
4 Maria Court, Condong
Spacious 4 brms | 2 living areas | media/office | pool
This immaculate and beautifully maintained family home will be a joy to come home to. Taking in an elevated position overlooking the parkland setting offers a protective position without losing your stunning river & mountain view. Spacious throughout with a beautiful modern kitchen, 2 separate living spaces plus a media room/office, ensuited master brm and a private, fully fenced yard with large covered outdoor living area & inground pool. This home had just a small amount of water seep up through the floor waste in bathroom in Feb 2022.
31 Yalambee Avenue, Cudgera Creek
3 bed | 2 bath | pool | extensive shedding | 8km beach
Open Home Sat 11-11.30am
Price Guide
$1.2 - $1.295m
199 Tweed Valley Way, South Murwillumbah
3 bed | 2 bath | boatramp & timber jetty | mountain views
This solid home has been completely renovated by a builder, from the inside out and retains original timber floors & decorative plaster ceilings. Full privacy fencing from road with room to manoeuvre in back yard, the property has a boat ramp and timber deck where you can fish, kayak or row, launch the tinny or push the ski boat in. Covered outdoor living area for relaxed entertaining ,open plan living, sunroom/entry, 3 nicely proportioned bedrooms (ensuited main), sep. toilet, remote garage & storage/workshop area. Updates: New roof & sisalation, plumbing & wiring, plaster linings, fixtures & fittings, windows & doors, 2 bathrooms and kitchen. All asbestos & lead paint removed. No upper level flood inundation in 2022.
Open Home Sat 10 - 10.30am
$945,000
Ready to Negotiate
Privately positioned 3.08 Ha (7.6 acres) in a quiet cul-de-sac 8km to Pottsville beach, this low-set brick home offers 2 separate living areas, large kitchen & dining, lush lawn area fully fenced, outdoor deck, firepit & seating, pool with timber deck surrounds, a large solar array (battery ready), core-filled besser shed/workshop plus a separate Colorbond shed, vege patch with fenced paddocks. Genuine sellers want this sold - Submit offers please.
Open Home Sat 12.30-1.30pm
$1.795m Must be Sold
Submit Offers - Now $2.295m
973 Reserve Creek Road, Reserve Creek
4 king brms | 8.15 acres| pool | shed | studio | orchard
Ready for your self-sustainable lifestyle? Wake up to the sound of the Kookaburras from this beautifully spacious 4 bedroom home with 5 huge living spaces providing ample room for a family. Brand new pool house & approved separate studio. 8.15 lush usable acres with shed, established fruit orchard, spring-fed stream. Ideal for kids, pets & livestock. Coastal breezes assured, 12km to beach, M1 to commute north/south. Generous living amenity in a quiet and peaceful location. Genuine motivated seller has purchased elsewhere and requires immediate sale
Belinda Franks - 0409 152200
Ray White Rural Murwillumbah
Great Value Extensive Infrastructure
Now $2.295m
Must be Sold Offers Please
89782
Mr Property Services
$369,000 The Palms Village - Tweed Heads South $369,000 The Palms Village - Tweed Heads South 2 1 1 $360,000 $269,000 $465,000 Banksia Waters - Tweed Heads West Tweed Billabong - Tweed Heads South Tweed Broadwater - Tweed Heads South 2 1 1 1 1 S 2 1 S $349,000 $189,000 $365,000 Banksia Waters - Tweed Heads West Tweed Billabong - Tweed Heads South Tweed Broadwater - Tweed Heads South 2 1 2 89774
139 Minjungbal Drive, Tweed Heads South Phone: (07) 5523 3431 | Mobile: 0423 028 468 2 1 1 2 1 2 2 1+1 2
First National — 64 Murwillumbah St, Murwillumbah NSW 2484 Call us now (02) 6672 7828 89825 MURWILLUMBAH $850,000-$875,000 9 Tweed Valley Way 4 1 4 Anne Besgrove 0402 608 503 UKI CONTACT AGENT 32 Meadow Pl Scott Reading 0401 938 937 MURWILLUMBAH $749,000 7 Central Parade 4 2 2 Scott Reading 0401 938 937 MURWILLUMBAH $1,050,000 12 Riverbend Way 5 3 Scott Reading 0401 938 937 EVIRON $449,000 8400 Tweed Valley Way 3 1 2 Helen Flynn 0435 810 254 MURWILLUMBAH $995,000 31 Eyles Ave 3 1 1 Helen Flynn 0435 810 254 KIELVALE $975,000 81 Reserve Creek Rd 4 3 2 Helen Flynn 0435 810 254 UKI $$920,000 13-15 Mitchell St 4 1 1 Anne Besgrove 0402 608 503 COMMISSIONERS CREEK $1.2M–$1.3M 563 Commissioners Creek Rd Anne Besgrove 0402 608 503 Lookingtosellorrent? John Besgrove 0403 513 924 Jade Chapman 0492 966 183 Anne Besgrove 0402 608 503 Scott Reading (LICENSEE IN CHARGE) 0401 938 937 Bruce Flynn 0422 405 827 Helen Flynn 0435 810 254 OPENHOME 11–11:30AMSAT 4 2 5 1 1
1/14 Dandaloo Drive Currumbin
TROPICAL TRI-LEVEL TOWN HOME - Currumbin Hill
Immerse yourself under a tree lined canopy to experience this coastal inspired tri-level town home, within a small cluster of (3) dwellings only. Offering 215m2 of total indoor/outdoor space and spread over three distinctive levels, there is ample room for the independent family wanting to relax in comfort.
FEATURES
• Family / Tv room or home office area
• Bedroom (3)
• Laundry & W/C
• Durable epoxy flooring
• Single automatic garage with internal access + exterior open space for 2nd vehicle (Common property)
• Spacious light filled open plan living w/ cool easy care flooring
• Dining zone
• Kitchen w/ Caesar stone benches & d/washer
• Full length balcony w/ native outlook
• Access to rear private courtyard w/ timber deck
• Master bedroom w/ stunning ensuite, walk in robe & access to full length upper balcony
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• Stylish main bathroom
For Sale
Interest Over $995,000
Open Saturday 6th 1:00 - 1:30pm
David Stringer 0418 150 731
david@djstringer.com.au
8 Ivory Crescent Tweed Heads South
IDYLLIC GREENBANK - dual living with development appeal'
Outstanding opportunity to acquire this solid (3) bedroom dual level residence aloft a prime 664m2 allotment, surrounded by major amenities and offering redevelopment appeal for boutique apartments up to 22m (7) levels.
You will enjoy water views of the Tweed River from the existing home and if re-developed, spectacular 180-degree water views above the (3) story buildings in front that are restricted to a height of 9m only.
GROUND LEVEL:
• Large self-contained flat with kitchenette & bathroom / ideal for extended family or home occupation
• Double lock up garage with internal access
UPPER LEVEL:
• Full length enclosed sunroom with Tweed River views
• 3 generous bedrooms
• Colonial style kitchen with heaps of cupboard space
• Tidy bathroom with separate toilet
Land Size 664m2
For Sale
Buyer range $1.6M - $1.650M
Open By Personal Appointment
David Stringer 0418 150 731
david@djstringer.com.au
the home of real estate
car car 322
bath bath bed bed (07)
76
7 Days
www.djstringer.com.au
322
5599 5222
Griffith Street Coolangatta | Open
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1) SMALL SPACE GARDEN – BALCONY, COURTYARD/PATIO For gardens with balconies, courtyards or patios.
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m2 of land space.
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m2 of land space.
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10) BEST MAN CAVE Can be attached or unattached to home, sports bar area / billiard room or workshop but it must represent its owners personality.
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2023
OPEN TO SOUTHERN GC - PALM BEACH TO COOLANGATTA & TWEED TO KINGSCLIFF RESIDENTS
T r i p f o r 2 p e o p l e t o t h e 2 0 2 4 M e l b o u r n e I n t e r n a t i o n a l F l o w e r & G a r d e n S h o w !
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76 Griffith Street, Coolangatta QLD 4225 | www.djstringer.com.au | 07 5599 5222
INCLUDING FLIGHTS
89780
& ACCOMMODATION
8852489324
collaboration with the current owners created a true statement to modern coastal living T. 07 5513 0300 Brad Kopcikas-Yates 0408 251 988 brad@tbre.team Tate Brownlee
| $900,000 - $990,000
