The Financial Year in Review
Following the dramatic highs and lows of the Covid era, the past 12 months have brought greater stability to the Lennox Head property market, with the median house price recording almost no change.
As hybrid work patterns shift and more employees return to the office, the number of buyers from outside the region has dropped to 44%. In contrast, 56% of buyers are locals (within 30km radius), choosing to remain in the community they know and love.
Despite a generally positive sentiment, buyer urgency has been lacking, reflected in an average of 80 days on market. The past year also saw a significant sell-off of
investment properties due to rising holding costs (interest rates/land tax/insurances etc). This has tightened rental supply and driven a 11.8% ($105) increase in weekly rents.
With interest rates beginning to ease and further cuts anticipated, the outlook for the next 6–12 months is optimistic, with steady price growth expected and increased confidence from both buyers and sellers.
Listed & Sold Properties
Median Suburb Prices Buyer Origin
“Nick, Jake and the team at McGrath were exceptional. Thorough and considered market knowledge. They have a genuine interest in achieving the best outcome for all parties. We couldn’t be happier with the result. Highly recommend this team!”
Team Bordin 0423 238 062
Nickbordin@mcgrath.com.au
Jakeking@mcgrath.com.au
Adrianotalone@mcgrath.com.au
Bianca & Gavin T
Team Bordin