Real Estate THURSDAY, JULY 1, 2020 FROM COAST TO
COUNTRY
WWW.TWEEDVALLEYWEEKLY.NET.AU
Coastal property sales and rental snapshot By Jo Kennett
WITH HOUSING and rental
prices exploding on the Tweed Coast, The Weekly has looked at a snapshot of properties available for rent and sale on real.estate.com and also at average prices over the past year using data from Hometrack Australia and real.estate.com. The data for the previous year’s sales from Hometrack Australia dates from December 2019 to December 2020, so it includes at least six months when property wasn’t as in demand as it has been recently.
Bogangar
The average property prices over the last year ranged from $912,500 for houses to $565,000 for units. Houses in Bogangar were receiving rents of $580 per week on average, with an annual rental yield of 3.3 per cent. Bogangar units were rented out for an average of $425 per week, with a rental yield of 3.9 per cent. Based on data from the past five years of sales, Bogangar has seen a compound growth rate of 10.7 per cent for houses and 10.5 per cent for units. Bogangar had four properties available for rent and seven properties for sale on Friday, January 29.
Sales
There were only two properties for sale at Bogangar, with no price on one, though it was expected to net over $1 million, and the other a
studio unit for sale, with conditions, at $195,000.
Rentals
There were some hefty price tags for rentals in Bogangar, with a fourbedroom, three-bath house near the beach for rent for $1,600 a week. A four-bedroom home with a pool in Grevillea Street was listed for $1,450. A four-bedroom home with a pool in Ti Tree Avenue was listed for $1,150 a week. A three bedder with a pool in Hastings Road was up for $900 a week. There was also a threebedroom home listed for $550.
Kingscliff
The average property prices over the past year ranged from $1,250,000 for houses to $625,000 for units. Houses in Kingscliff rented out for $720 a week on average, with an annual rental yield of 3 per cent. Units rented for $500 on average, with a rental yield of 4.2 per cent. Based on data from the previous five years of sales, Kingscliff houses have seen a compound growth rate of 10.8 per cent and units have achieved a growth rate of 8 per cent. Kingscliff had 12 properties available for rent and 34 properties for sale on Friday, January 29.
Sales
A four-bedroom three-bathroom beachfront home (with no sea views) at Salt was listed for $4,250,000.
Open homes
By Jonathon Howard
THIS WEEK we catch up with top local agent and
Kingscliff’s average house price is now more than $1.2 million
A three-bedroom, two-bathroom unit overlooking the creek and ocean at Kingscliff was listed for $1,695,000 to $1,795,000. A two-bedroom, two-bathroom unit at Peppers Bale Resort with a pool view was under offer and listed for $850,000 to $890,000 A two-bedroom one-bathroom unit on Marine Parade in Kingscliff has been snapped up and was under offer for $799,000. A two-bedroom, two-bathroom unit at Peppers Bale Resort was listed for $795,000. A three-bedroom unit in the Paradiso building had a $750,000$795,000 price listing.
Rentals
A three-bedroom home on Marine Parade with ocean views was listed for $1,950 per week. A three-bedroom “luxury” townhouse was up for $850 per week and a two-bedroom unit on sought-after Moss Street with creek views was up for $460 per week. REPORT CONTINUES IN NEXT WEEK’S EDITION...
29 Tumbulgum Road Murwillumbah, 10am-10.30am 64 Ann Street, Mullumbimby, 10am-11am 10B Whitton Place, Ocean Shores, 10.30am-11.30am *All open homes are listed in NSW time Panorama Estate, 2981 Kyogle Road, Kunghur, 11am-2pm 4 Napelle Court, Ocean Shores, 12pm-1pm Friday, February 5 Raine & Horne Ocean Shores/Brunswick Heads/ 37 Warwick Park Road, Sleepy Hollow, 2pm-2.30pm DJ Stringer Property Services - Coolangatta: Murwillumbah: 72 Currumbin Chase, Currumbin, 9:30am-10:30am* Panorama Estate, 2981 Kyogle Road, Kunghur, 9am-11am 4/2 Gibson Street, Bilinga, 11am-11:30am* Saturday, February 6 Raine & Horne Ocean Shores/Brunswick Heads/ 30/23 Garrick Street, Coolangatta, 11am-11.30am* 602/46 Pacific Parade, Bilinga, 12pm-12.30pm* Murwillumbah: 111 Silkwood Terrace, Tweed Heads West, 9amT&T_SONDO_R&H_STRIP_260x90mm_FA.pdf 1 19/1/21 1:03 am7/311 Golden Four Drive, Bilinga, 1pm-1.30pm* 9.30am 9/83 Gollan Drive ‘Seagulls’, Tweed Heads West, 11am-
84974
Tweed market is running hot!
First National Real Estate Murwillumbah principal Scott Reading to get his take on the Tweed Shire market that continues to boom. Mr Reading said the current outlook for the Northern Rivers real estate market is on an “upward trend” with no signs of slowing down. “The current market is on a strong upward trend with very high buyer and renter demand,” he said. “With the high demand of buyers and renters, we are seeing prices being pushed upwards and it looks like this will continue for some time.” Mr Reading said it was “definitely a sellers’ market” with listings attracting dozens of potential buyers. “Yes, it’s a seller’s market, the listings are already in high demand, with a number of our recent properties having large numbers of people through the first open homes and multiple offers above asking price being put forward on properties,” he said. He also provided some timely advice for anyone looking to buy. “They need to have pre-approval for finance organised before they put an offer on a property, they should also work on having a deposit of 10 per cent,” he said. “Try making sure you attend the first open home so that you do not miss out, register your details on each agent’s database so you are informed of any new properties coming to the market.” The outlook for 2021 is looking “promising” Mr Reading said, especially for anyone considering selling. “The year looks promising for our area, if you are considering selling, now is the ideal time, as prices are being pushed higher than ever before,” he said. “Plus, with COVID-19 still prevalent, I believe the market will continue to rise as people look to escape the city life and the Tweed Valley is a beautiful area, close to many amenities with the potential for growth.”
11.30am 82 Lakeview Terrace, Bilambil Heights, 12pm-12.30pm First National Murwillumbah: 95 Starlight Way, Pumpenbil, 12pm-12.45pm 87 Starlight Way, Pumpenbil, 1pm-1.30pm Schmith Estate Agents: 6/13 Cabernet Court Tweed Heads South, 10.30am-11am 5 Dundee Drive, Banora Point, 11.30am-12pm Northern Rivers Property Group: 29 Queen Street, Murwillumbah, 10.30am-11.30am Raine & Horne Banora Point: 6 Carrington Court, Terranora, 12pm-12.30pm 386 Terranora Road, Terranora, 2pm-2.30pm