The Weekly Real Estate from Coast to Country, August 17, 2023

Data shows Tweed settling into a buyer’s market

By Jo Kennett

HOLD ON to your hats folks and prepare for the latest data bomb from Core Logic, with all the latest on sales, sale volumes, home values for the region and the Tweed Shire, which is definitely continuing the trend from a seller’s to buyer’s market.

It’s all about the numbers and the latest data Core Logic released on sales in the Richmond-Tweed area, which includes Byron Bay, showed that 4,376 homes were sold in the region over the past year, 26.2 per cent lower than one year ago, and 24.4 per cent below the five-year average for the region.

So perhaps the rush to cash in on the pandemic price boom is finally over, which is great news for buyers, although stock is obviously still a bit tight.

Agents are expecting that to change with the onset of the spring selling season when more properties seem to go to market.

House sales in the RichmondTweed region were down 28.8 per cent while unit sales were down 19.7 per cent.

House values were down 20.4

per cent over the year to the end of May, while unit values had only dropped 11.4 per cent.

The median value for a home in the Richmond-Tweed was $899,408 and for a unit it was $666,710 at the end of May.

Vendor discounting also had a slight increase. For houses it was 6 per cent over the year, slightly up from last year’s 5.8 per cent.

For units, vendor discounting was 4 per cent, up from 2.9 per cent at the end of May, 2022.

Days on the market for houses was 72, up from 44 last year, while units were on the market for an average of 51 days before they sold, up from 33 days in the year to the end of May, 2022.

The Richmond-Tweed region again recorded the lowest yearly growth rate in house prices in the country, from 24.2 per cent yearly growth in our last quarterly regional report, to -20.4 per cent over the year to July 2023.

The lowest yearly growth rate in units in Australia up to the end of July, 2023, were found in Launceston and North East (Tas) and, you guessed it, RichmondTweed both recording the equal

Open Homes

largest decline in unit values over the past year, down 11.4 per cent each.

I had figured it was Byron Bay dragging our numbers down again, but a closer look at the figures for our shire show it’s more likely us dragging them down. Sorry about that Chris, hate to see you losing value on your Broken Head shack on account of us.

For the Tweed Shire 1,049 houses were sold in the year ending in May, 2023, down 30.4 per cent from the year to the end of May last year.

The median house value in the Tweed was $958,229, down 17.3 per cent from the same period ending May 2022.

The average time on the market was 66 days with sellers dropping prices on average 5.9 per cent.

A total of 845 units sold in the Tweed Shire in the year to the end of May, a drop of 17.7 per cent from last year.

The median value for a unit was $681,609, down 7 per cent from the same period last year.

Units sold faster than houses in the shire though, on average, they were on the market for 46 days, down 4.2 per cent from the same period to May, 2022.

HOW'S THE SERENITY! DJ Stringer is listing this ideal duplex at 2/6 Alva Street in Tweed Heads for $695k to $745k

I n t r o d u c i n g J a s o n D i t t m a r

W h e n J a s o n ’ s n o t a d v o c a t i n g f o r h i s c l i e n t s , y o u c a n f i n d h i m w i t h h i s f a m i l y o r s u p p o r t i n g h i s c o m m u n i t y . H e i s a c t i v e i n l o c a l s p o r t s c l u b s a n d w a s t h e P r e s i d e n t o f M u r w i l l u m b a h

F o o t b a l l C l u b f o r 7 y e a r s a n d a c h i l d r e n ’ s s o c c e r c o a c h f o r 1 5 y e a r s .

P a s s i o n a t e a b o u t h i s f a m i l y J a s o n h a s b e e n m a r r i e d t o h i s l o v e l y w i f e A l i s o n f o r 3 0 y e a r s a n d t h e y h a v e 4 b e a u t i f u l c h i l d r e n t o g e t h e r J a s o n a n d A l i s o n h a v e a l s o b e e n f o s t e r p a r e n t s f o r t h e p a s t 8 y e a r s a n d a r e c u r r e n t l y l u c k y t o h a v e 4 f o s t e r c h i l d r e n a s p a r t o f t h e f a m i l y

jetrealestate.com.au

SELLING . BUYING . PROPERTY MANAGEMENT

THINKING OF SELLING? CALL THE TEAM TODAY

02 6672 2499

46 Lorien Way, Kingscliff

Executive Home | 5 brms | 2 living | pool & entertaining

This wonderfully private and low maintenance modern brick home features extensive outdoor living overlooking a sparkling 9m pool. Family friendly with 5 bedrooms, open plan family & separate lounge, 2 modern bathrooms, great storage, bamboo timber floors, new carpets & paint, air conditioning throughout, modern and sleek galley kitchen with butler's pantry. Solar power (10kw32 panels). Perfect for entertaining and relaxing with family and friends and conveniently positioned to the beach, shops, new hospital with the M1 access for the daily commute.

26 Prince Street, Murwillumbah

4 spacious brms | 2 living areas | studio | covered car accom

Open Home Sat & Sun 12.15 - 1.15pm Wed 3-4pm Price $1.870m

Beautifully presented and maintained 1940's bungalow in flood free position within walking distance to the town centre. Superbly elevated with a north-east aspect, cottage gardens & car parking for 2-3 cars from a two street access. Original features include 11ft ceilings (approx.), original windows, French doors, polished timber floors, a weatherboard exterior and a list of updates already completed. Dual living with 3 bedrooms, 2 living areas (main residence) and a self-contained studio at the rear with its own entrance ideal for home business, family or income.

PARTIAL TO STYLE?

Sell with an agent/stylist that will make your home look its best. Call Belinda today.

Open Home Sat 12 - 12.30pm

Guide Range $880,000 to $920,000

199 Tweed Valley

Way, South Murwillumbah

3 bed | 2 bath | boatramp & timber jetty | mountain views

This solid renovated home retains original timber floors & decorative plaster ceilings. Full privacy fencing from road with large back yard, the property has a boat ramp and timber deck where you can fish, kayak or row, launch the tinny or push the ski boat in. Covered outdoor living area for relaxed entertaining, open plan living, sunroom/entry, 3 nicely proportioned bedrooms (ensuited main), sep. toilet, remote garage & storage/workshop area. Updates: New roof & sisalation, plumbing & wiring, plaster linings, fixtures & fittings, windows & doors, 2 bathrooms and kitchen. All asbestos & lead paint removed. No upper level flood inundation in 2022.

Open Home Sat 10 - 10.30am

Guide range $880,000 to $920,000

Belinda Franks - 0409 152200

belinda.franks@raywhite.com

Mr Property Services

$735,000

RURAL LAND 11 ACRES

NATURES HIDDEN HAVEN

A perfect vacant acreage, flood free, easy access, views, with a farm shed. Imagine owning this exclusive sanctuary, where you can escape the noise and stress of everyday life, offering an unmatched sense of peace and tranquility. The property features expansive natural beauty, including old-growth trees, and a babbling creek. With ample space, you have the freedom to design and build your dream home, taking full advantage of the panoramic mountain views, the Pinnacle, and Mt Warning. Although the acreage offers privacy, it's conveniently located just six minutes from Tyalgum and twenty minutes from Murwillumbah.

1

COODGIE STREET, TYALGUM

MIXED-USE DOUBLE BLOCK IN PICTURESQUE HINTERLAND VILLAGE

Discover the perfect opportunity to embrace a peaceful village lifestyle in Tyalgum, Northern NSW, with this exceptional property boasting a spacious family home set on a generous 1,518m2 double block. With mixed-use zoning, this property opens up a world of possibilities for both residential and possible commercial ventures. The charming location, coupled with the convenience of town water, sewerage, and a rainwater tank, makes this property a rare find in the market. Experience the true essence of village living while unlocking endless potential with mixed use zoning on this expansive block. Whether you envision creating your dream family home, embarking on a commercial venture, or exploring development opportunities, this property in the heart of Tyalgum's village has it all.

Apartment 201/8 Churchill Street Kirra

Immerse yourself into a summery way of life from this modern (3) bedroom (2ND level) 145m2 apartment (+ 2 car side by side parking) all within 50m to the beach and surrounded by a smorgasbord of local dining options.

And yes, you can even see the ocean at the end of the street!

KEY FEATURES:

• Generous open plan living w/ dining zone

• Cool timber flooring

• Hostess kitchen w/ stone benches, stainless appliances & additional combination microwave/oven

• Master bedroom w/ stylish ensuite & walk in robe

• Zoned ducted air-conditioning

• Double glazed windows throughout

• 2 side by side car spaces within secure basement

• Pool & BBQ area in complex

• Pet friendly (with B/C consent)

For Sale

Interest Over $1.695M

Open Inspection by Appointment

David Stringer 0418 150 731

david@djstringer.com.au