Hello.
According to ANZ analysts, the combined capital city property prices were expected to rise 6% in 2024, with Brisbane having the biggest gain at 9-10%, then Perth with a 7-8% gain, Sydney at 6-7% and Melbourne
coming in last with a gain of
3-4%.
As of July 2024, the national property market appears to be on track to achieve this rise in value, despite negative factors such as cost of living increases, tight credit policies and high interest rates. In the 12 months to June 2024, the national property market has experienced an 8% rise in value and since February 2024, dwelling values have settled into a steady 0.5% to 0.8% increase month on month.
Internal migration to regional areas of NSW continued to have a strong influence on the property market in the first half of 2024, with the March 2024 quarter recording the second highest level of internal movers in the past 6 years. The Tweed LGA
experienced a 2.3% share of the total Net Internal Migration (NIM) in the 12 months to March 2024, including 1.6% of city to regional migration and 1.6% of regional to regional migration. This gave the area a 45.8% NIM increase compared to the 12 months to March 2023 and placed it within the top 20 LGAs for internal migration.
The recent influx of people migrating to the Tweed Coast from cities and other regional areas may be partly attributed to a very healthy rental market for both prospective tenants and property investors. In the past six months, the number of prospective tenants in our databases has increased from 36,000+ to 38,000+. Despite this, the vacancy rate has returned to a healthy level of 3%, up from 2.5% in the second half of 2023 and
the average days on market for rentals remain low at 16.5 days. The median rent has decreased from $994 per week to $804 per week for both houses and units, however, the rental yield has increased to 3.9% for houses and 4.9% for units.
Compared to the third quarter of 2023, the Tweed Coast property market has seen the median sale price for houses decrease by -13.3%, while
unit sale prices increased by 5.1%. The decrease in median sale price for houses is most likely due to a dramatic 20% increase in total sales since the third quarter of 2023.
The First National team have outperformed the Tweed Coast
median sales prices in the first half of 2024, achieving a median sales price of $1,326,000 for houses and $792,363 for units, increasing by 31% and 28% respectively compared to the previous 12 months.
In the 12 months to July 2024, the First National team have sold 85 properties and settled 68 properties, worth a total value of $61,211,713 and placing our team 4th highest for the most properties sold in the Tweed Shire. Additionally, we have met with 3298 new buyers at over 150 open homes and recorded a highest sales price of $2,650,000. Of the houses that our team have sold, 3 bedroom houses made up the majority with 47%, then 2 bedroom houses with 25% and 4 and 5 bedroom houses accounted for 23% and 5% of the total sales, respectively.
Thinking of Selling?
First National Real Estate Banora Point
Shop 1E, Banora Shopping Village, Banora Point, NSW, 2486
P (07) 5523 1111
E office@fnbanora.com.au
First National Real Estate Pottsville Beach
11/5 Coronation Avenue, Pottsville Beach, NSW, 2489
P (02) 6676 1053
E reception@pottsville.com.au
First National Real Estate Tweed City
Shop 107, Tweed City Shopping Centre, Tweed Heads South, NSW, 2486
P (07) 5523 3900
E reception@fntweedcity.com.au
A Selection of Recent Tweed Coast Sales
A Selection of Recent Tweed Coast Sales
HOUSES
Pottsville Hastings Point
Bogangar
Casuarina
Kingscliff
Region Stats.
HOUSES UNITS
Terranora Bilambil Heights
Banora Point
Tweed Heads South
Tweed Heads West
Tweed Heads
Fingal
Tweed Heads
Fingal
Tweed Heads /West
Bilambil Heights
Tweed Heads / South
Banora Point
Terranora
Prospective tenants in our databases
Rental return is at an all-time high in today’s market. First National Tweed Coast desperately need more homes in the Tweed Coast area to keep up with the high demand of tenant enquiries.
Our Agency currently has a large number of Tenants looking for rental homes in your suburb. In fact, the
Why Us?
Are you after that personal touch and first-class service you and your investment property deserve, not to mention the best rental return? First National Tweed Coast Asset Managers put you first. Choosing the right estate agency to manage your investment property is one of the most difficult tasks you’ll face as a landlord. We appreciate you have a choice, assume you’ll talk to several agencies and want to win your business!
demand is such that our homes in the area are often only on our available rental’s list for a matter of days.
The high rental return we are achieving for our landlords is exceeding expectations and your property could be next.
If you are considering leasing your home, we would be extremely interested to hear from you.
On a daily basis, we demonstrate to our existing landlords that we offer the ideal combination of professionalism, experience and commitment.
Let our First National Property Management Team take the stress out of your investment. Give one of our dedicated team a call today to find out just how easy we can make it for you.
Our Sales Team.
Paul Charlton
Director/Sales Agent
T 0402 418 342
E paul@fntweedcity.com.au
Oscar Van Megchelen
Licensed Sales Agent
T 0405 791 242
E oscar@pottsville.com.au
Kristy Ritz
Licensed Sales Agent
T 0401 943 832
E kristy@fntweedcity.com.au
Ben Charlton Director/Sales Agent
T 0402 081 976 E ben@pottsville.com.au
Andy Wilson
Licensed Sales Agent
T 0407 245 245 E andy@fnbanora.com.au
Kerry Horn
Sales Assistant
T (07) 5523 1111 E office@fnbanora.com.au
Roz Wolfe
Licensee in Charge/Sales Agent
T 0422 644 237
E roz@fnbanora.com.au
Carol Neale
Licensed Sales Agent
T 0419 799 078
E carol@fnbanora.com.au
Samara King
Sales Assistant
T (02) 6676 1053 E samara@pottsville.com.au