Coastal Buys Magazine April 2024

We specialise in beachfront family homes to coastal apartments, and we are here to help you buy and sell your dream property in the Kingscliff & Casuarina region.

the boundaries on what can be done and how it should be done has seen us become one of the most sought-after voices in northern New South Wales Witheriff Group provides a

Our team brings together leading-edge, award winning real estate agents, all united by a vision to do things differently. We’re experienced in the deal and quick to react. While we work fast and react quickly, it’s always with strategy, foresight and clarity. Our ability to push

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Carol

WELCOME

Welcome to the April edition of Coastal Buys.

The Tweed Coast has a new residential price record, with 58 Tweed Coast Road, Cabarita Beach selling for more than $14 million last month.

The beachfront property was featured as house of the month in the February edition of Coastal Buys. You can read all about the sale in our news section and watch an exclusive video tour on our website.

Also in this edition, we will explore a coastal-inspired residence for house of the month, meet property valuer Mitch Smith from Knight Frank in our spotlight feature, and discover the joy of bringing art into your home.

Mortgage broker Lindsay Olsen, from Tweed Coast Home Loans, discusses options for first home buyers to get into the property market, and we have the latest CoreLogic market statistics.

In addition to the record sale, our news section covers the Tweed Valley Hospital Community Open Day, as well as calls from 15 mayors to address a lack of regional housing.

We hope you enjoy this edition of Coastal Buys – the home of luxury coastal living.

Alice Coote EDITOR

Melanie Hodge - mel@thebrandery.com.au thebrandery.com.au

House of the month photographer Open2view Tweed Coast Jacinta Harry and Ali Wright

BEACHFRONT RETREAT IN KINGSCLIFF

HOUSE OF THE MONTH

‘The Retreat’ on Cylinders Drive has been designed for ultimate coastal living.

The sprawling beachfront property is set on 1,012 square metres, just steps away from South Kingscliff Beach.

The coastal aesthetics begin with the striking, contemporary facade, which features premium stone, timber panelling, a concrete-look gatehouse and an established silver Bismarck palm.

A custom-designed Blackbutt timber pivot door welcomes you to the ground floor of the recently renovated two-storey sanctuary.

As you enter, you will find a versatile guest room or study with a built-in robe, and a generously-sized media room, designed with an elevated timber seating platform for ultimate movie viewing.

An open-plan kitchen, dining and living space provides the perfect place to unwind. They connect seamlessly with the covered outdoor entertaining area, overlooking a large manicured yard, and an alfresco with a built-in barbecue, wine fridge, wet bar and access to a north-facing saltwater swimming pool.

And what beachfront home would be complete without an outdoor shower to wash off the sand when you return from the beach.

The kitchen features luxury and practical touches, including a walk-in pantry and two large benchtop areas, the smaller one offering the perfect coffee making station.

A large void extends to the first floor, enhancing the sense of space, while the relaxed coastal-inspired living areas feature stackstone walls, VJ panelling, engineered French-oak floors and a gas fireplace surrounded by natural stone.

Also on the ground floor is a convenient powder room, laundry, double garage and storage. As you venture to the upper level, you are greeted by stackstone and timber-lined walls and a large multi-purpose living area, with a built-in study nook.

The master retreat continues to impress, taking up the entire length of the first floor and offering a spacious ensuite, walk-in robe and balcony off the bedroom.

The balcony provides another impressive vantage point of the expansive rear yard and established tropical gardens, as well as peaceful views of coastal vegetation and a place to enjoy the calming sounds of the ocean.

Another four bedrooms are located on the first floor, each featuring their own ensuites and walk-in robes, providing ultimate comfort for residents and guests.

Situated on prestigious Cylinders Drive, this private coastal retreat is the perfect place to entertain, unwind and enjoy all that beachfront living has to offer.

LJ Hooker Witheriff Group

Nick Witheriff 0405 618 477

Carol Witheriff 0413 056 405

Coastal Buys talks to Knight Frank Certified Practising Valuer Mitch Smith about the process and benefits of a professional property valuation.

How long have you worked in the real estate industry?

I have been working in the real estate industry as a property valuer going on 10 years this year. My career path in property began when I finished my university degree and was offered an exciting job opportunity in Darwin, before moving to the Gold Coast.

What services does the Knight Frank Valuations Team offer?

Knight Frank offers a diverse range of valuation services for all types of residential properties. These include private financial purposes, disposal, law purposes and primarily mortgage work.

What does the process of conducting valuations involve for you and the property owner?

The valuation process involves a thorough analysis of surrounding comparative properties before an in-person inspection. Once at the property, I will note down various facets of the internal features, photograph pertinent aspects and measure the improvements. The property

owner provides access and could also facilitate the process by providing relevant background information.

What benefits do professional valuations offer to property owners?

Valuations can provide the owner with financial benefits as the process is essential to access possible equity. Depending on the type of valuation undertaken, it is an integral aspect in determining the owner’s financial standing.

What do you enjoy most about working in this industry?

Meeting new people, flexibility and continuing professional development.

Which areas do you service?

We service Central to Southern Gold Coast and Northern New South Wales, operating primarily in the Tweed region.

What are your views on the current local market and expectations for the rest of the year?

I believe the market will experience continued stability heading through 2024. The continued general lack of supply and steady demand should provide the basis for a robust property market moving through 2024.

“THE CONTINUED GENERAL LACK OF SUPPLY AND STEADY DEMAND SHOULD PROVIDE THE BASIS FOR A ROBUST PROPERTY MARKET MOVING THROUGH 2024.”

Are you noticing any trends in terms of property valuations?

Valuations are becoming faster and more accurate with advancements in technology and improvements in processes.

What do you believe this area offers buyers?

The Tweed offers excellent access to coastal activities and established land and properties at a comparatively more affordable price than the Gold Coast.

To read about Mitch’s favourite things to see and do in the Tweed Coast region where he grew up, visit coastalbuysmagazine.com.au

Residential Property Valuations

Our team provides market leading valuers who focus on residential valuations for major developers, banks and private clients. Our principal residential services comprise of single residential dwelling valuations and residential development valuations. The residential valuations team have a wealth of experience within their localised markets and a national footprint allowing for valuations of:

• Single residential dwelling/high-volume mortgage valuations

• Residential development sites

• Medium to high rise apartment developments

• Townhouse developments

• Englobo subdivisions

• Boutique/prestige residential buildings

• Specialised asset classes such as student accomodation and multi-family/build to rent assets

If you would like to request a property valuation, reach out to your partners in property today on (07) 3002

INDUSTRY INSIGHTS

SECURING YOUR FIRST HOME LOAN

Tweed Coast Home Loans Mortgage Broker Lindsay Olsen discusses options available for first home buyers.

The rapid rise in property prices in our area over the past five years, paired with high inflation and low wages growth, has created a perfect storm working against those looking to save a 20% deposit to purchase their first home.

Thankfully, there are solutions to get onto the property ladder without needing the whole 20% deposit, saving you thousands in Lenders Mortgage Insurance (LMI)*. Here are two ways to secure a property sooner.

1. Guarantor loans

Someone who already owns property (usually a family member), and doesn’t have a high loan to value ratio (LVR), uses the equity in that property as security for some of the deposit on your new home.

You might have saved a 5 or 10% deposit (or maybe you haven’t saved

“THANKFULLY, THERE ARE SOLUTIONS TO GET ONTO THE PROPERTY LADDER WITHOUT NEEDING THE WHOLE 20% DEPOSIT, SAVING YOU THOUSANDS IN LENDERS MORTGAGE INSURANCE (LMI).”

anything yet) and you need help to secure the full 20%. The equity in the guarantor’s property covers this difference between your available deposit and 20% of the new property value.

Importantly, the guarantor doesn’t have to physically contribute any cash to your deposit. The home buyer will borrow the guarantee amount plus the remaining 80% of the new property value. The buyer simply needs to be able to afford the repayments on the total borrowed amount.

When the loan has decreased, or your property value has increased, to the point where the LVR is below 80%, the guarantor is released, leaving the home buyer solely responsible for all future payments.

Guarantor loans are a great way for Mum and Dad to help their kids buy their first home sooner. Anyone considering going guarantor on a loan should seek independent legal and financial advice beforehand.

2. The Home Guarantee Scheme (HGS)

The HGS is a Federal Government initiative which allows eligible first home buyers to purchase property with as little as a 5% deposit.

The HGS is similar to a guarantor loan in that the borrower doesn’t have to

pay for LMI and can borrow up to 95% of the property value. With the HGS it is the government, rather than a family member, that guarantees the bank won’t lose money on the transaction.

In more good news, under the HGS the government doesn’t own any of your home or the potential capital growth you might achieve while you own it. It truly is a helping hand for those with a low deposit.

Personally, I think the HGS is one of the best ways for first-time buyers to get into property as soon as they can.

If you would like to learn more about guarantor loans or the Home Guarantee Scheme, contact Lindsay Olsen from Tweed Coast Home Loans on 0424 809 007 or lindsay@ tweedcoasthomeloans.com.au

Visit tweedcoasthomeloans.com.au, @tweedcoasthomeloans on Instagram, or in-person at The Pavilions Marketplace in Terranora.

*LMI is a one-off insurance premium payable by borrowers whose loan amount is more than 80% of the value of the property, known as the loan to value ratio (LVR). LMI doesn’t insure you, the borrower, it protects the lender in the event that you default on your loan and they can’t recoup the full loan amount after selling the property.

TWEED COAST PRICE RECORD SOARS

The property was purchased by an interstate buyer.

for $9.45 million by Witheriff Group’s Nick Witheriff and Carol Witheriff.

A new Tweed Coast price record has been set with a luxury beachfront home in Cabarita Beach selling for more than $14 million.

The newly built four-bedroom property, at 58 Tweed Coast Road, enjoys sweeping ocean and mountain views and direct access to Cabarita Beach.

The three-storey property, which was featured as house of the month in the February edition of Coastal Buys, was sold by agents Kim Jones and Rick Daniel from Kim Jones Property.

“We had strong competition and the highest offer won,” Ms Jones said.

“The owners are very, very happy.”

Ms Jones said they had 225 enquiries during the campaign and it was viewed more than 45,000 times on online listing platforms, with a lot of interest from interstate buyers.

“Everyone who’s everyone saw it. It was the most viewed property in Australia at the time,” she said.

“All of the interest came from Sydney, Melbourne, Adelaide, Gold Coast and Brisbane.

“It was a massive campaign and the campaign went very well.”

The previous highest residential sale for the Tweed Coast was 44-48 North Point Avenue, Kingscliff, which was sold

WANT TO KEEP UP TO DATE WITH ALL YOUR LOCAL REAL ESTATE NEWS?

Visit coastalbuysmagazine.com.au to find exclusive interviews, bonus content and the latest news stories.

To read more about Caba Hill Beach House and watch an exclusive video tour, visit coastalbuysmagazine.com.au

Healthcare Helpers volunteers and staff at the new Tweed Valley Hospital

First look at Tweed Valley Hospital

Thousands of people attended the Community Open Day at the new

Cabarita Beach stunner sets new record

58 Tweed Coast Road, Cabarita Beach

$723.3 million Tweed Valley Hospital last month, ahead of its opening in May.

More than 4,500 people attended the open day, with visitors embracing the chance to explore some of the key hospital facilities and services, including the emergency department, maternity services, cancer services and the outpatient department.

When the hospital opens on Tuesday 14 May it will provide a number of new and enhanced clinical services including interventional cardiology, radiotherapy as part of integrated cancer care, satellite medical imaging within the emergency department, and enhanced surgical services.

Minister for Regional Health Ryan Park said it was a great opportunity for the local community to explore the hospital before it opens.

“As Minister for Regional Health, one of my key priorities is to improve access to healthcare for our regional communities and I am really excited we’re getting closer to opening this facility which will provide a massive boost to healthcare in Northern NSW,” Minister Park said.

Mayors join forces on affordable housing

A group of 15 regional city mayors is calling on the NSW Government to deliver affordable housing solutions. There was unanimous support for a motion put forward by Tweed Shire Council Mayor Chris Cherry at a Regional Cities NSW meeting held in Wagga Wagga last month.

The motion calls for Regional Cities NSW to request an urgent meeting with Minister for Housing Rose Jackson, and Homes NSW CEO Rebecca Pinkstone, and write to them “outlining the dire need for the uplift of social and affordable housing in our member regions”.

It also requests answers about how the NSW Government will facilitate on the ground solutions within the next two years to provide for social and affordable housing, and levers that may be introduced to incentivise

approved private residential development being brought to market.

Tweed Shire Council Mayor Chris Cherry said the Tweed was struggling with increased levels of homelessness and needed more tangible outcomes on the ground.

“The urgency of the housing crisis across regional cities is dire, with the lack of housing contributing to a rising inability of businesses to attract workers,” Cr Cherry said.

Regional Cities NSW represents the main regional cities in NSW including Tweed Shire, Albury, Armidale, Bathurst, Broken Hill, Coffs Harbour, Dubbo, Goulburn Mulwaree, Griffith, Lismore, Maitland, Orange, Queanbeyan-Palerang, Tamworth and Wagga Wagga.

To read about other housing-related issues Regional Cities NSW will include in its submission to the NSW Government’s draft Budget, visit coastalbuysmagazine.com.au

Did you know Tweed Shire Council is conducting a feasibility study into a new indoor sports complex, featuring a 50-metre Olympic-sized swimming pool? To read this story and more visit coastalbuysmagazine.com.au

Tweed Shire Mayor Chris Cherry (centre) and Regional Cities NSW Chair Mathew Dickerson (fourth from right) with mayors and general managers

Visitors chatting with a volunteer

Demonstrating the latest technology in cancer services

Explore the latest property values and rental prices at a glance with CoreLogic’s monthly snapshot.

WANT TO FIND OUT MORE?

Visit coastalbuysmagazine.com.au for our latest articles and extended analysis.

JOYFUL ART FOR COASTAL HOMES

Mist Gallery Owner and Artist Helen Otway explores the wonderful ways that art can enhance your home.

When you stand in front of art, you are standing in the space the artist stood. It’s the space where ideas manifest into art.

For many, the idea of buying art can be daunting. But that notion of art being exclusive is starting to diminish. Local galleries are helping to bridge the gap between artist and art buyers, and people can feel confident buying art that will enrich their home.

The greatest feedback I receive as an artist and gallery owner, is hearing that the art someone has purchased brings them joy each day.

When you listen to your favourite songs, watch a film or read a book, you can be drawn into that world. You look forward to hearing the song again and it gets you moving. The same can apply when you buy a special piece of art. Does it talk to you? Draw you in? Do you linger in front of it and find yourself coming back to it? When this happens, you know that it will continue to pique your interest. You walk past it and it grabs your attention.

Whilst colour, size and orientation of the artwork play an important role they shouldn’t be the only factors. Having said that, you can really create an impact with larger works for a large space or create a cosy nook with a few smaller pieces arranged in a salon hang. This could be a corner of a room, hallway or a bedroom.

The height of your ceilings and dimensions of your room can help guide your decisions in choosing the right piece as you don’t want the artwork to look ‘lost’ in the space or overwhelm the area. The context of the room and other features in the space can also influence you.

Coastal homes are usually surrounded by lots of light and lend themselves to a variety of artworks from coastal scenes to large abstracts, nature and earthy influences and natural palettes. Wanting to bring the outside in is what we often hear from buyers, that sense of creating open spaces. On the other hand, some enjoy a pop of colour to what may otherwise be a white space.

The use of art in-situ apps can help art buyers make informed decisions

about selecting the right art. Galleries can use apps to show clients what the art will look like on their wall or even take the art to the home as part of their service.

Many buyers these days are talking more about art and the artists. They understand that artists are often influenced by the same things that interest them, whether it be the local environment, culture or events that have shaped our lives.

We are now seeing original art more and more in homes as a way to create unique and inviting spaces.

About Mist Gallery

Located in Cabarita Beach, Mist Gallery exhibits talented local and invited artists, and holds artist talks and workshops. It has become an important part of art culture in the Tweed Coast region.

To find out more about Mist Gallery visit Shop 1B/51 Tweed Coast Road, Cabarita Beach, mist-gallery.com.au or follow them on social media.

ON THE MARKET

HOUSES/ TOWNHOUSES

What are your key considerations for a home loan?

It’s not always about the rate…

Something to keep in mind when looking to refinance your home loan is lenders vary greatly in what they can offer. Interest rates range as much as 2% across different lenders and a refinance has the potential to save you tens of thousands of dollars off the life of your home loan. But before you start applying, here are some things to consider.

What are your future plans?

If you’re refinancing to renovate or build, the lender will need to support this, and you’ll also need to satisfy the terms of the cash out.

Will you be requiring maternity leave? Maternity leave policies vary greatly from lender to lender, each needing various proof of return to work income. Perhaps you may benefit from going onto an Interest Only repayment to help with cash flow. There are numerous things you might need to consider.

How long are you planning on living in the property?

Are you wanting to pay down the loan as quickly as possible on a short 20-year term or extend it to a 30-year term when you refinance to have flexibility of paying the lowest instalment?

Let's see what's possible

Does the lender provide a feature of a 100% offset account and unlimited extra repayments? Are you paying your loan monthly, fortnightly or weekly? Have you checked how the lender calculates its repayments? How are these repayments of the most benefit to you over the life of your loan?

Turnaround times vary greatly from lender to lender. Some lenders approve loans much faster than others. It’s important to factor in the approval times when changing lenders and to factor potential extra time into your calculations to determine whether it impacts your cost saving compared to another lender that may be faster.

Some lenders will give you $2,000 - $3,000 cash to move, which not only covers your switching costs but gives you a little leftover spending money.

On top of these things to consider, you may want to structure your loan differently to better suit your current circumstances or goals. The structure of your loan can make a difference to your repayments, interest you pay and time it will take to pay off.

As a broker, we work with lenders day in, day out and have a good understanding of how long approvals are taking and how they vary in their policies and offerings.

If you’re considering refinancing, arrange a free, no-obligation chat by calling the office on 1300 003 414.