Real Estate THURSDAY, JULY 1, 2020 FROM COAST TO
COUNTRY
WWW.TWEEDVALLEYWEEKLY.NET.AU
Tweed rental listings tight Open homes
By Jonathon Howard
Saturday, July 25
THE NUMBER of available
rental properties in the Tweed has significantly decreased over the past two months, according to the latest rental market report. The ANZ-CoreLogic Housing Affordability Report, released this week, listed the Richmond-Tweed region as experiencing a 20 per cent reduction in rental listings between March and June. During the four weeks prior to March 15 there were a total of 941 rental listings across the region, compared to 750 in the four weeks to June 28. Most regional areas across the country had a reduction in the number of vacant rental properties between March and June, where only 11 of the country’s 88 large regional areas recorded an increase. The Gold Coast was one of the few regional areas which recorded an increase in listings, up by 5.1 per cent between the three months. The report suggested the conversion of holiday rentals to long-term rentals as a possible explanation for the increase, which has been a trend across popular tourist destinations such as Byron Bay. “Another factor contributing to increased rental supply is the conversion of short-term accommodation, namely Airbnb, to the long-term rental market,” the report states. “This has been supported anecdotally, with real estate agents reporting that they have assisted Airbnb owners to market their property for a longer-term tenant. “Researchers from the University of Queensland estimate 346,581 unique properties, or about four per cent of the country’s housing stock, had been used for Airbnb at
DJ Stringer 708/1493-1489 Gold Coast Hwy, Palm Beach, 9:00am-9:30am 47/3 Clancy Court, Tugun, 9:30am-10:00am 8/27-29 Dutton Street, Coolangatta, 10:00am-10:30am 4/57 Dixon Street, Coolangatta, 11:00am-11:30am 9 Merion Court, Banora Point, 11:00am-11:30am 24 Karingal Avenue, Bilambil Heights, 11:00am-11:30am
some point between July 2016 and February 2019. “The highest counts of Airbnb listings by SA2 region were in Melbourne, Surfers Paradise, Point Nepean, Byron Bay and the SydneyHaymarket-The Rocks region.” This increase in long-term rentals across popular tourist destinations is likely to be short-lived, according to the report, as domestic and international tourists return.
Postcode vacancy rates
While vacany rates have hit record highs across the country, most Tweed Shire suburbs continue to have a lack of available rentals, with renters struggling to find properties. The NSW North Coast recorded a vacancy rate of 1.5 per cent in June, according to SQM Research, and most Tweed suburbs are significantly below this figure. The 2484 postcode, which includes Murwillumbah and surrounding villages, had a vacancy rate of 0.6 per cent in June and even at the
Postcode
peak of the lockdown in April, the vacancy rate was just 1.1 per cent. Rentals have long been in high demand across the postcode, with vacancy rates below two per cent since September 2013. The 2485 postcode which includes Tweed Heads is also tight for rentals, with a vacancy rate of 0.6 per cent in June and 1.4 per cent in May. The Banora Point and Tweed Heads South postcode of 2486 had a vacancy rate of 0.7 per cent in June and 0.9 per cent in May. Kingscliff (2487) and Pottsville’s (2489) vacancy rate was higher at 2.5 per cent and 1.6 per cent respectively, while Bogangar remains a popular place to rent on the coast, with only 0.7 per cent of rental properties available in June, down from 1.8 per cent in May. The Weekly has previously reported on an increase in the number of long-term rentals available on the Tweed Coast since the outset of the COVID-19 pandemic.
Vacancy rate May Vacancy rate June 2020 2020
2484: Murwillumbah
0.8%
0.6%
2485: Tweed Heads
1.4%
0.6%
2486: Banora Point
0.9%
0.7%
2487: Kingscliff
3.2%
2.5%
2488: Bogangar
1.8%
0.7%
2489: Pottsville
2.7%
1.6%
Source: SQM Research
U344 `Mantra Harbour Towers’, Stuart Street, Tweed Heads, 11:45am-12:15pm 3/5 Cabernet Court, Tweed Heads South, 12:00pm- 12:30pm 20/24 Seaview Road, Banora Point, 12:00pm-12:30pm 704/53 Bay Street, Tweed Heads, 12:00pm-12:30pm 904/53 Bay Street, Tweed Heads, 12:30pm-1:00pm 26/20 Binya Avenue, Tweed Heads, 1:15pm-1:45pm 73 The Quarterdeck, Tweed Heads, 2:00pm-2:30pm
Raine & Horne Ocean Shores/Brunswick Heads/ Murwillumbah Pinnacle Estate, Ramsay Close, Goonellabah, 9.00am-10.00am 28 Royal Avenue, South Golden Beach, 9.30am-10.00am 23 River Street, Murwillumbah, 10.00am-10.30am 1/4 Roundhouse Place, Ocean Shores, 10.00am-10.30am 11 Flinders Way, Ocean Shores, 11.00am-11.30am 10 McPherson Court, Murwillumbah, 11.30am-12.00pm 2/3 Duroon Court, Ocean Shores, 12.00pm-1.00pm 556 Caniaba Road, Caniaba, 12.00pm-12.30pm 6 The Plateu, Murwillumbah, 12.30pm-1pm 53 Helen Street, South Golden Beach, 12.30pm-1.30pm
Ray White Rural Tweed Valley 2/27 Tombonda Road, Murwillumbah 9.00am-9.30am 22 Silky Oak Court, Bray Park 10.00am-10.30am 26 Dorothy Street, Murwillumbah 11.00am-11.30am 439 Tweed Valley Way, South Murwillumbah 12.00pm-12.30pm
601 Limpinwood Road, Limpinwood 1.00pm-1.30pm 194 Brays Creek Road, Tyalgum 2.00pm-2.30pm
TW Realty Murwillumbah 23 McPherson Court, Murwillumbah, 10.00am-10.30am
Tweed Heads Coolangatta Real Estate 6/16 Recreation Close, Banora Point, 11:00am-11:30am 16/13-15 Kingston Drive, Banora Point, 12:00pm-12:30pm
Looking for a property management team who goes the extra mile? • I thoroughly recommend TW Realty for all things Real Estate, for great service and advice in buying, selling and property management. Having dealt mainly with Wally and Tina over a period of 12 years, we have been impressed with their efforts on our behalf. Tina is very commi�ed, diligent and thorough with the management of rentals for us. She always has our best interest at heart. I recommend this no nonsense fair dinkum Real Estate duo without hesita�on Sincerely, Fae Lyne�e • TW Realty manage our commercial property, we have found them to be professional & accessible, we have no hesita�on in recommending their commercial property services. Cameron & Sahra Raward • When it comes to commercial rentals, our family knows locals can trust Wally & Tina to deliver the best outcomes for both owners and tenants alike. Glen
www.twrealtymurwillumbah.com.au
Tina Evans 0407401771
02 6672 7555 72781
Wally Trankle 0417622842