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Real Estate Estate

By Jo Kennett

THINGS ARE about to heat up faster than ever as the spring selling season opens soon, with two major factors affecting the property outlook right now across the nation, and one local agent suggesting a reduction in capital gains tax might encourage investors to sell and free up supply.

Falling interest rates and the prospect of more in the future has seen increased buyer activity, with local agents saying there had already been a “huge increase in demand from first home buyers” for more affordable homes.

According to Senior PropTrack economist Anne Flaherty, in 2020 when the cash rate fell to just 0.1 per cent, it triggered one of the fastest periods of property price growth in Australia’s history.

“The week following the February cut, realestate.com.au recorded the highest number of buy searches in over three years,” she said.

Flaherty and other economists weren’t expecting the same sort of crazy price growth seen during the pandemic, but that was before the Albanese government announced it was bringing forward the five per cent deposit scheme aimed at first home owners to October this year. Income caps will be removed

Spring selling season is about to heat up!

and price caps increased as well.

That is a massive game changer and something anyone looking at buying, who isn’t a first home owner, will want to take into consideration.

The early start of that scheme will bring thousands more buyers into the market and economists and property experts are warning competition could get intense and “a little crazy,” as one broker said. The banks think it’s great, as they would, but there are quite a few skeptics.

Economist Saul Eslake said that the problem he has with the scheme is that, “We now have more than 60 years of evidence that anything that allows Australians to spend more on housing than they ‘d otherwise be able to, be it first home owner grants, stamp duty concessions, generous tax concessions for property investors, shared equity schemes, easier lending criteria on the part of banks and other lenders, or in this case, allowing people to buy homes with smaller deposits and without having to pay lenders mortgage insurance, anything that allows Australians to spend more on housing than they otherwise would be able to, results in more expensive housing, which in turn, results in lower ownership

Open Homes

Saturday, August 30 Schmith Estate Agents

• 27/1 Carramar Drive, Tweed Heads West, 10–10.30am

• 3/10 Wilpark Crescent, Currumbin Waters, 10–10.30am

• 3/10 Wilpark Crescent, Currumbin Waters, 2–2:30pm DJ Stringer

• 2/48 Coolangatta Rd, Coolangatta, 9–9.30am

• 24/182-184 Kennedy Dr, Tweed Heads West, 9–9.30am

• 9/277 Golden Four Dr, Bilinga,10–10.30am

• 1091/14-22 Stuart St, Tweed Heads, 10–10.30am

• 2085/18-20 Stuart St, Tweed Heads, 10.30–11am

• 501/85 Golden Four Dr, Bilinga, 11–11.30am

• 2104/18-20 Stuart St, Tweed Heads, 11–11:30am

• 2/15 Boyd St, Tweed Heads, 12–12.30pm

• 803/106 Pacific Pde, Bilinga, 12–12.30pm

rates.”

The government has said it will only push up housing prices by about 0.5 per cent over six years, although Eslake thinks it will be more.

Housing is the biggest component of the cost of living and a major part of inflation. The more house prices go up, the more inflation goes up, the more interest rates go up, the more the price of housing goes up. Which all sounds a bit depressing if you aren’t a first home owner and are trying to get into the market, but until the scheme and prices start to rise, there will be a window of opportunity for other buyers, both owner occupiers and investors, to

• 5/14 Bolton St, Kirra, 1–1.30pm

• 38 Amaroo Dr, Banora Point, 1–1.30pm

• 10 Mourne Terrace, Banora Point, 2–2.30pm JET Estate Agents

• 9 Tweed Valley Way, Condong, 9.30–10am

• 11 Kurrajong Street, Mullumbimby, 9–9.30am

• 166 Kunghur Creek Road, Kunghur, 10–10.30am

• 7 Peter Street, Murwillumbah, 10.30–11am

• 77B Balemo Drive, Ocean Shores, 10.30–11am

• 16 George Street, Murwillumbah, 11.30–12pm MANA

• 15 Muli Muli Avenue, Ocean Shores, 9–9.30am

get into the market.

Principal at DJ Stringer Property Services David Stringer said the reduction in the deposit to 5 per cent, “will certainly assist first home owners to embark on their real estate journey much sooner.”

“In addition, the First Home Buyer’s Guarantee also removes the significant cost of mortgage insurance which is usually between one and five per cent of the loan value, applicable to deposits of less than 20 per cent,” David said.

“These are great initiatives that will assist tens of thousands of first home buyers around the nation.

What will this do to the real estate market?

“We have already experienced

a huge increase in demand from first home buyers prior to these announcements and this will only strengthen based on limited supply, resulting in an increase of property prices especially at the more affordable entry level,” David said.

“We simply need more stock to bring the market into more of an equilibrium between buyers and sellers.

“The question is how? Perhaps the federal government needs to assess or reduce capital gains tax for current investors who wish to dispose of their investment property – this would increase supply substantially.”

Blue Fox Property Group

• 18 Riverbend Way, Murwillumbah, 10–10.45am

Tate Brownlee Real Estate

• 3 Osprey Place Brad, Kingscliff, 9–9.30am

• 49 Bione Ave, Banora Point, 9–9.30am

• 51/2 Barneys Point Road, Banora Point, 10–10.30am

• 2/22 Beach Street, Kingscliff, 10–10.30am

• 6/12 Parkland Place, Banora Point, 10–10.30am

• 30 Sullivan Street, Tweed Heads South, 11–11.30am

• 29 McPhail Avenue, Kingscliff, 11–11.30am

• 25 Myeerimba Parade, Tweed Heads West, 11-11.30am

• 4/28 Miles Street, Coolangatta, 12–12.30pm

• 119 Commercial Road, Murwillumbah, 9.30–10am

• 132 Middle Pocket Road, Middle Pocket, 10–10.30am

• 16B Palmer Avenue, Ocean Shores, 10–10.30am

• 402 Racecourse Road, Tygalgah, 11–12pm

• 75 New Brighton Road, New Brighton, 11–11.30am

• 26 Redgate Road, South Golden Beach, 12–12.30pm

• 26 Glenbrae Drive, Terranora, 12–12.30pm

• 5 Kakadu Court, Banora Point, 12–12.30pm

• 20 Oakland Parade, Banora Point, 1–1.30pm

• 9/4 Advocate Place, Banora Point, 1–1.30pm

• 4 Kildare Drive, Banora Point, 1–1.30pm

• 12/12 Solander Street, tweed Heads, 2–2.30pm

Things will be heating up for affordable housing this spring selling season, like this lovely home at 2 Rosella Close, Tweed Heads South, for sale with DJ Stringer

89/34 Monarch Dr, Kingscliff 2 BED|3 WAY BATH|2 CAR PICTURESQUE, PEACEFUL AND PRIVATE

Canal Frontage properties are rarely available. Fabulous floor plan with beautiful views looking out to the canal and bird life. Large outdoor courtyard and undercover alfresco area.

• 2 large bedrooms with built-ins, ceiling fans.

• 3-way bathroom with vanity, walk in shower, bathtub & separate toilet.

• Open plan living areas

• Spacious kitchen with pantry, stove top, wall oven and rangehood.

• Reverse cycle air conditioning, solar panels and garden shed.

• Remote control garage. Laundry with built-ins and space for office.

PRICE $740,000

172/34 Monarch Dr, Kingscliff 2 BED|2 WAY BATH|1 CAR

GORGEOUS FULL WIDTH BULLNOSE VERANDAPET FRIENDLY IN FABULOUS OVER 50’s VILLAGE

Looking to downsize and still have space? It’s so relaxing sitting on the veranda having a cuppa or drinks with friends. Or relax and enjoy the breeze.

• 2 full size bedrooms, with built-ins & fans

• Two new outdoor awnings on bedroom windows

• Spacious living rooms, with multiple glass sliding doors and windows making the home light and airy

• Remote control garage, plenty of space

• Separate laundry and room for study or hobbies

PRICE $639,000

77/34 Monarch Dr, Kingscliff 2 BED|2 WAY BATH|1 CAR BRING YOUR FURBABY, BRING THE CARAVANVACANT & READY FOR YOU!

Private or social lifestyle, whatever you desire is yours in beautiful Noble Lakeside Village. This home is positioned close to Club House, swimming pool, spa and bowling green.

• Lowset 2-bedroom home with built ins and fans.

• Spacious Kitchen with stone bench top, glass cooktop, wall oven, rangehood and pantry.

• Open plan living, reverse cycle air conditioning.

• Click clack timber planks in living area and carpet in bedrooms

• Spacious laundry and carport.

Very rarely does a 3-bedroom home become available in Noble Lakeside over 50’s Village. This is a friendly community, and you can be as sociable or private as you like.

• 3 Bedrooms, with built-ins & fans

• Spacious living rooms, with windows and glass sliding doors, bringing the outside in

• Fabulous private ‘large’ all weather outdoor entertainment area with café blinds

• Reverse cycle split air conditioning

• Double garage is also rare, so don’t wait.

• Three separate titles, all zoned RU2

• 36.51 hectares (approx 90.218 acres)

• Two dams, including one large spring-fed, plus 20,000L water tank

• Original 3 bedroom home with 1 bathroom – ripe for renovation

• High ceilings and open plan living in the main area

• Large outdoor shed and carport for equipment and storage

• Just 8.7km to Pottsville beaches and town centre, and 33.3km to Tweed Heads Price Guide $2,400,000

30 Days on Market -3 offers

Lots of Inspections - Multiple offers

30 Days on Market - Under Offer

PRICE: $780.000 - $830,000

3 BED I 1 BATH I 2 CAR

Approx. S00m2 block Tweed River frontage with elevated character home

Extension plans available for download from our website

Huge entertainers deck

Beautiful river/ sunset/ mountain views

Timber floorboards

5 minutes to Murwillumbah food

and arts hub

PRICE: $ 1.75m to $1.BSm 5 BED 12 BATH I 4CAR

approximately 11 acres of rural bliss and tranquility

Fully Fenced padocks suitable for horses I cattle

Spring fed dam/ 3 phase power

Solid double brick home with separate artists studio I office

Magnesium pool with views from elevated deck 10 minutes to Murwillumbah

Approx. 30 mins to Byron or Cooly

Looking at selling? Get advice and guidance from Northern Rivers Property Group. With extensive experience and success in selling Murwillumbah property with first hand knowledge and expert information for guiding buyers through the pros and cons of riverfront properties and available insurance options. We have a full database of buyers looking to get into the Murwillumbah market ... Call Adrianna today ... What are you waiting for?