Real Estate THURSDAY, JULY 1, 2020 FROM COAST TO
COUNTRY
WWW.TWEEDVALLEYWEEKLY.NET.AU
Rental stress increasing as locals fear being forced out By Jo Kennett
TWEED SHIRE residents are applying for properties sight unseen in a desperate attempt to find rental properties as the market tightens further. Twenty-five-year-old Megg Cusack has a baby on the way and is desperate to find a new rental in the Tweed Heads area. “My lease runs out on December 14 and I’ve been looking for somewhere since April,” she said. “We’re looking from Banora Point to Tweed Heads West. “It’s my mum, my partner, my one-yearold and we also have pets, which doesn’t make it any easier. ‘When they say you can have pets it’s generally more expensive, usually about $100; you can see the difference online.” Megg and her partner grew up in the area and don’t want to leave. “We both have family here and we don’t want to move to Queensland,” she said. “Even if we could get something in Kingy, it takes half an hour just to get from Kingscliff to Tweed Heads where my boyfriend works and he doesn’t really want to sit in traffic all day. Megg has had to extend their lease on a month-by-month basis while searching for a new home. “We are in a three-bedroom house, but we really want a four bedroom so we can have a room for our baby, which is due in March,” she said. “This is what happened with my first child; he’s two in January and we moved when I was 35 weeks pregnant and I had him at 38 weeks.
“I was living with my cousin at one stage because we couldn’t get a house. I was stressed out. “Every time we book in to go and see a rental there are 20 or 30 people and a lot more than that looking at it, and they are applying before they see it. “The application goes through to the owner for approval and they say everything’s fine and we just don’t get it. It’s ridiculous. It’s so stressful.” Many long-term rentals have now gone to short-term, as they did in the Byron Shire where locals are now priced out of the market. Airbnb properties in the Tweed Shire ballooned by 363 per cent from 289 in 2016 to 1,337 in late 2019, placing further pressure on the rental market, with more properties going to short-term rentals every week. Raine and Horne Ocean Shores Brunswick Heads’ Julie-Ann Manahan said that across the Tweed region, there is an “extreme” shortage in rental accommodation. “This has been driven by COVID-19, with people fleeing the major cities for the country life,” Ms Manahan said. “COVID has made people realise the importance of community and getting back to family values. “The Tweed region has long been hugely popular as a holiday destination and now people are wishing to call this beautiful area home, and if they cannot find their dream home to purchase, they are looking for a rental accommodation in the interim.” Ms Manahan said she strongly advises clients who are looking to make the move
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Saturday, December 5
Raine & Horne Ocean Shores/Brunswick Heads/ Murwillumbah: 47 Andrew Avenue, Pottsville, 9.30am-10am 4 Namoi Glen, Ocean Shores, 10am-11am 37 Warwick Park Road, Sleepy Hollow, 10am-11am
to the Tweed to get pre-approval with real estate agencies and make sure they have “all their ducks lined up” so they can be first in line. “This includes employment and personal references/past rental ledgers and the like,” Ms Manahan said. “As for the sales market, well, I haven’t seen anything like this since the late ‘80s/ early ‘90s. Properties are selling very quickly. “We strongly advise all our prospective purchasers to make sure they are registered on all local agency’s CRM [customer relationship management] systems, so they can be updated as soon as properties come to market.” Ms Manahan said they were currently seeing a number of properties being sold off-market, but she strongly advises clients against that. “This is a practice for the lazy agent and will invariably cost the vendor money,” she said. “There are no shortcuts to achieving an excellent property price. “All property must be proactively marketed to achieve the premium sale price by ensuring all prospective purchasers have a chance to view the property and put their best offer forward. “You only have one chance to sell your biggest asset and it’s important to focus on achieving the highest possible price.” REAL Specialists agent Mason Garten said the increase in southerners buying across the Tweed Coast has been significant. “Realestate.com recently reported searches of our area by Sydney and
13 Yungarup Place, Ocean Shores, 2pm-2.45pm Auction: Yungarup Place, Ocean Shores, 3pm DJ Stringer: 10/15-17 Ivory Cres, Tweeds Heads, 9.30am-10am 2/34 Caloola Drive, Tweed Heads, 10am-10.30am 2135 Tweed Ultima Stuart St, Tweed Heads - 9:30am-10am 2122 Tweed Ultima Stuart St, Tweed Heads, 10am-10:30am 1 Hill Street, Tweed Heads, 11am-11.30am 1/42-44 Thomson Street, Tweed Heads,12pm-12:30pm
The Tweed real estate market is hot
Melbourne buyers had almost doubled,” he said. “On the ground, I have seen a huge increase in enquiry, open home visitor numbers and historically strong competitive bidding. “Every sale seems to hit a new record level. Factors pushing prices up have been the hospital construction, the improved amenity, lack of stock and low interest rates. “However, values have been further pushed up with COVID forcing individuals to work from home, and the efficiency of technologies such as Zoom have been recognised and accepted. “This has given city-based purchasers an ability to bring forward sea change plans.” Mr Garten said the Tweed Coast has almost “no rentals and no sales stock”. “The other day a rental property received 74 applications in a matter of hours prior to inspection,” he said. “As soon as we get a listing it is generally swooped up by the buyers. “The most challenging part of this sales cycle is managing buyer expectations when they have missed out on properties despite making great offers on great terms.”
22 Ducat Street, Tweed Heads, 12pm-1pm 4/27-29 Dutton Street, Coolangatta, 1pm-1:30pm 3/182 Kennedy Drive, Tweed Heads West,1pm-1:30pm 11/30 Lanham Street, Coolangatta, 2pm-2:30pm First National Murwillumbah: 95 Starlight Way, Pumpenbil, 9:15am-9:45 87 Starlight Way, Pumpenbil, 10am-10:30am 91 Clareville Road, Uki, 11:30-12pm 30 Richards Deviation, Dunbible, 12:30-1pm 77 Byangum Road, Murwillumbah, 1pm-1.30pm
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