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COOLANGATTA
INSIGHTS
23/24 FY MARKET WRAP FROM THE DESK
OF ALEX PHILLIPS
As we wrap up the financial year, let's take a look at the key statistics and trends that have shaped the real estate markets in your LGA No opinions, just facts from the frontline of the QLD/NSW Border residential market
The year that was: Over the past year, our QLD/NSW border suburbs (Coolangatta, Tweed Heads, Tweed Heads South, Tweed Heads West, Bilambil Heights and Terranora) saw a total of 1,050 residential property sales The median house price in the region has risen by 7%, while the median price for units has also seen a significant increase, up by 5% The average number of days a property stayed on the market was 28 days, reflecting strong demand
Of the 350 Auctions conducted in these suburbs, Ray White continues to show market dominance in the Auction space with an impressive clearance rate of 85% This success underscores the competitive nature of the market and the effectiveness of Ray White's Auction strategy in the border region
First-time buyers made up 25% of the market, driven by low interest rates and government incentives Investors accounted for 30% of the purchases, attracted by the region's potential for rental yields and capital growth
The year ahead: The outlook for the coming year remains positive, with continued demand expected to drive further growth Infrastructure developments and lifestyle appeal will keep attracting buyers to our suburbs
We hope this EOFY market wrap provides valuable insights into the performance of your local markets For more detailed information or specific queries, feel free to reach out to our team
0404 335 212
alexphillips@raywhitecom
The Border Bubble Markets
