GON INAS RNG SE SSPELLI
Real Estate FROM COAST TO COUNTRY
First home buyers are back as confidence rises THE STABILISATION of interest rates, which have remained on hold for four months, has brought confidence back into the property market, with more buyers about and first home buyers making a noticeable re-entry thanks to a range of incentives. DJ Stringer Property Services principal David Stringer says the market is “exceptionally strong”. “We have really good numbers going through open homes on both sides of the border at the moment,” David told The Weekly. “They are looking for beachside units and suburban homes and inquiries have really stepped up. “I think buyers are excited with more stock coming on the market. It’s certainly picked up a notch.” David said the buyers his team were seeing were mostly locals. “There are a lot of locals moving around, upsizing and downsizing,” he said. “There are quite a few buyers
form Brisbane and a few investors from interstate but I think we will see more interstate buyers later in the year aiming to move up in the new year.” David said they were seeing a big shift in first home buyers looking for property in the $500,000 to $600,000 range, perhaps partly motivated by the record high prices they have been paying for rental properties. “They have come out and there is so much demand, especially in the Tweed Heads area,” David said. “It’s red hot for units under $600,000. “They are renting and there hasn’t been a lot of that sort of stock on the market but we have had four or five six offers on the one property and they are all first home owners.” David said a Federal Government scheme to help with deposits, state first home owners’ grants as well as stamp duty breaks are helping out those
Open Homes
trying to buy into the market for the first time. “Obviously mortgage brokers are helping to facilitate that,” David said. “In a lot of the discussions we have with first home owners they talk about how brokers are really helping out and the incentives are very helpful. “That end of the market (cheaper units) was in favour with investors before and first home buyers weren’t getting a look in but now they have an edge and are putting in really strong offers. “We are looking forward to a bumper spring which we think will continue into summer and I think the market will continue to prosper well until 2024.” Northern Rivers Property Group Paul and Adrianna from Northern Rivers Property Group agree, saying the market has “definitely picked up in buyer quantity in the last month” although his team is seeing a lot of interstate interest.
Schmith Estate Agents
Saturday, October 14
• 43a Rutledge Street Coolangatta, 11-11.30am QLD
Tate Brownlee Real Estate
• 505/37 Bay Street Tweed Heads, 1-1:30pm NSW
• 22 Banora Hills Drive, Banora Point, 10:00-10:30am • 183/2 Inland Drive, Tugun, 10:00-10:30am QLD time
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• 12 Sunshine Avenue, Banora Point, 9:00-9:30am
Heads unit which has been especially popular. “The lower end of the market always appeals to a wider range of buyers,” they said. “The most popular properties are rural properties within 15 minutes to town, anything with a stunning view of our beautiful mountain ranges and Queenslanders on hospital hill are always desirable. “It’s definitely busier than the first two quarters of 2023. “Prices haven’t gone up but they are stable and we believe they will stay stable for the next 12-24 months. “The Northern Rivers will always be a preferred place to buy and live. Why wouldn’t it be? “Beautiful landscape, stunning river, beaches, hikes and shopping all within half hour. “Amazing food, produce and arts scene. We’ve been discovered now. The rest of the areas have cottoned on to what we have always known. It’s the best place to live.”
“Buyers are a bit more confident in borrowing again with the interest rates being slightly more stable,” they told The Weekly. “The properties are looking stunning and all the flowers are in bloom so it’s a beautiful time to show properties at their best. “There are still a lot of interstate buyers, more than half of our last 25 offers have been from interstate, mostly Melbourne, Sydney and the Gold Coast “There are also a lot of first home buyers who are trying to buy rather than pay rent as mortgages often work out much cheaper than renting. “We have been introducing a lot of first home buyers to our in-house broker as the brokers are great at walking the first home buyers through the steps and finding smaller boutique lending companies that fit the clients needs better than the big banks. The property experts say residential homes are in demand and they have just listed a Tweed
JET Real Estate • 12 Barkala Court, Ocean Shores9:30-10:00am • 506 Tweed Valley Way, South Murwillumbah 9:009:30am
11:30am NSW • ‘Bay Grand’ 2074/9 Enid Street Tweed Heads 11:00 -11:30am NSW • 14 Birnam Avenue Banora Point 12:00 -12:30am NSW • 1/15 Boyd Street Tweed Heads 12:00pm-12:30pm NSW
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By Jo Kennett