The Weekly Real Estate from Coast to Country, February 9, 2023

Boom time for rental market

By Jo Kennett

SURGING DEMAND from both domestic and international migration to the Tweed Shire and Coolangatta along with a hot holiday letting market have seen the number of rentals plummet and prices through the roof.

That’s great news for investors but not so good for would-be tenants, including locals who have lived here their whole lives and those who have fled the cities for a sea or tree change.

Every week local community pages are filled with desperate pleas as well as advertisements for rentals, many on the high end price-wise and met with horror, especially from locals who remember the good old days prepandemic (only two years ago unbelievably) when prices were about half of what they are now.

Now the most commonly advertised properties are rooms in share houses for around $300 per week.

The most expensive rental on the market in the Tweed Shire at the moment is at 64 Seaside Drive, Kingscliff (Salt Village) with this six bedroom three lounge room ‘executive’ home, yours for

$1,650 per week.

The cheapest is a ‘suite’ with an ensuite but a shared bathroom, kitchen, lounge, dining and laundry in a fantastic position at the beach end of Tamarind Avenue (2/1) in Cabarita Beach overlooking Cudgen Reserve.

That is available for $270 per week and is listed on realestate. com

Agents on rentals

According to DJ Stringer Property Services principal David Stringer the rental market demand is “still outstripping supply”.

“The rental market has been very strong with limited options and demand easily overshadowing supply,” David told The Weekly Real Estate.

“This is forcing rents up considerably.

“Medium house rents are around $750 per week, with most units starting from $490 per week.

“Our vacancy rate with over 1,000 rentals under management has been less than one per cent virtually since the pandemic and is likely to continue.”

David said recent domestic migration to the region has played a big role in exacerbating

the rental crisis.

“We have seen a surge of people relocating from all capital cities to both the southern Gold Coast and Tweed regions with many wanting or being forced to rent until the right buying opportunity arises,” he said.

“So population growth during and after the pandemic has been a big factor, and a large percentage are owner occupiers with many investors opting to holiday let.

“Moreover, given the fact that it’s a very tight sales market, investor numbers are well down and a large percentage of investors that are fortunate are preferring to reap the rewards from an upbeat holiday market rather than permanent letting.

“This has been evident with an increase in holiday stock through our sister company Gold Coast Holiday Homes.”

First National Murwillumbah principal Scott Reading said they are seeing more rental properties coming onto the market at the moment “which is good news for tenants”.

“For most of last year and into the year before we were seeing around ten properties available

to rent which was causing huge competition for these properties and pushing the rental market up,”

Scott told The Weekly Real Estate.

“Currently we are seeing around 30 properties on the market which is giving tenants more of a choice of properties with more housing to go around.

“This is back to a more normal rental market.

“While there are more rentals available there is still plenty of demand and we are still seeing a low vacancy rate in the Murwillumbah area.”

Head of Property Management at Elders Real Estate Tweed Valley

Matt Garner said he was still seeing high demand for rentals in the Tweed Shire.

“The demand far outweighs the supply,” he said.

“We have not seen a reduction in weekly rental prices, and the market is still performing well with low vacancy rates and record rental prices being achieved across the shire.

“We believe that the rental market has stabilised due to external pressures and cost of living, and we may have reached a temporary ceiling in the return for investment properties.”

RENTAL MARKET: 64 Seaside Drive, Kingsliff, is for rent and it's a beauty!

Listing

13-17 Wharf Street, Murwillumbah NSW

AUCTION ON-SITE, FRIDAY 24 FEBRUARY AT 2:30PM (1:30PM QLD)

Freehold Mixed-Use Investment in the Heart of Murwillumbah

Adam Grbcic and Tony Grbcic from Kollosche Commercial, and Assi Dadon from Real Specialists Commercial are proud to present to the market 13 Wharf Street, Murwillumbah, NSW. This is a historic and iconic building in the centre of Murwillumbah, which offers the investor the security of a 100% leased investment with long term and well trading tenants as well as the longevity of very thorough workmanship and a completely refurbished building.

The property is situated in the core and centre of the Murwillumbah township, which has seen high levels of capital growth, new development and a 19% population growth since 2016 (Census data 2022). Murwillumbah is also recognised as a popular tourist location and known for its art deco facades, organic markets, M/Arts Precinct and local breweries.

The Key Property Attributes Include:

For More Information on this Opportunity, Please Contact:

Adam Grbcic 0404 087 772

adam@kollosche.com.au

Assi Dadon 0415 598 588

assi.dadon@realspecialists.com

- Land Size: 1,650m2*

- Total Retail Area: 787m2* (currently configured into ten retail shops which range from 42m2* to 193m2*)

The Key Investment Attributes Include:

- A 100% leased investment offering a total of 19 tenancies

- Passing net income: $406,491.26* + GST per annum

- Gross Lettable Area: 1,196m2*

- Total Residential Area: 409m2* (comprising nine-studio and one-bed apartments)

- Wide range and spread of tenancies which reduces the risk profile of the asset, currently offering:

- Ten retail tenants including a café, Italian and Indian Restaurants, a kebab shop and a variety or boutique retail stores

- Nine residential studio and 1-bed apartments, which are leased on either 6 or 12 months agreements

kollosche.com.au

*approximate

8844-8870 Tweed Valley Way, Tumbulgum

2 homes | substantial shedding | 337 acres

Immaculate cane farming opportunity, maintained & managed at the highest level by meticulous owner/operator for over 60 years. Consistent yields over 10,000 tonnes annually, offered on WIWO basis with extensive list of Plant & Equipment, all immaculately maintained & serviced. 2 fully renovated homes, substantial shedding. Multiple titles, two street frontage. Retiring owners welcome all genuine enquiries. Contact Belinda Franks for information.

31 Yalambee Avenue, Cudgera Creek

3 bed | 2 bath | pool | extensive shedding | 8km beach

Guide $5 - $5.5m

Ready to Negotiate Contact Agent 0409 152200

Privately positioned 3.08 Ha (7.6 acres) in a quiet cul-desac 8km to Pottsville beach, this low-set brick home offers 2 separate living areas, large kitchen & dining, lush lawn area fully fenced, outdoor deck, firepit & seating, pool with timber deck surrounds, a large solar array (battery ready), core-filled besser shed/workshop plus a separate Colorbond shed, vege patch with fenced paddocks. Genuine sellers want this sold.

Open Home Sat 1pm -2pm

NSW time

$1.795m Must be Sold

973 Reserve Creek Road, Reserve Creek

Residence | Studio | Pool | Shed | 12km Cabarita beach

Beautifully presented, large 4 bedroom home has 5 separate living spaces providing ample room for a family. Brand new pool house & approved separate studio. Coastal breezes assured, 12km to beach, M1 to commute north/south. 8.15 lush usable acres, spring-fed stream, ideal for kids, pets, golf or livestock. This is a rare opportunity in the coastal rural market to get so much living amenity in a quiet and peaceful location. Genuine seller has purchased elsewhere and requires immediate sale.

7 Bellevue Avenue, Bray Park

3 bed | plenty of storage & workshop | lockup garage | 639m2

Open Home -

Sat 11.3012.30pm

NSW time

$2.395m

Ready to Negotiate

Occupying an elevated position with a north/east aspect at the rear, this solid hardwood weatherboard home would make a great first home for your family or an investment.

Positioned within 200m walk to the local Bray Park shops, the home offers 3 bedrooms with robes, large living with great prospect for a large covered outdoor living area, ample storage downstairs with a separate room for the kids to play. Mountain views and cooling afternoon breezes make this one a must to inspect.

Contact Belinda Franks - 0409 152200

Ray White Rural Murwillumbah

Your local, professional - rural & residential specialist.

Open Home Sat 10 -10.30am

NSW time

$745,000 Ready to Sell

Mr Property Services

Enjoy the space and charm of this character filled three bedroom home, only a short walk to the thriving Murwillumbah Township. Three generous sized bedrooms, sensational polished timber floors through the home, enclosed front sunroom/study, open plan kitchen and dining with gas cooking.

115 Riveroak Drive, Murwillumbah

Attention to detail is evident in this immaculately presented 3 bedroom home located in the sought after estate of Hundred Hills. GJ Gardener constructed in 2016, perfectly utilizing the corner block with landscaped gardens and lovely street appeal.

2/13 Silky Oak Court, Bray Park

Sleek and stylish by design with neutral colour tones throughout, a family friendly layout with open plan living opening out to outdoor kitchenette under the pergola overlooking the private inground pool.

Lovingly maintained, extremely neat and tidy 3 bedroom, standalone duplex situated in a quiet cul-de-sac position in Bray Park with a nature reserve as your neighbour.

Price Guide $1,150,000 - $1,200,000

327 Nolans Road, Stokers Siding

A home to get your renovation and creative juices flowing to bring back to its former glory. A high set 3 bedroom home with an enclosed veranda and a massive open plan living space. High ceilings and gorgeous hardwood floors with VJ walls and French doors to accentuate the era and features that are now so on trend and sought after.

15 Darro Road, Terranora

This is your opportunity to build your dream home in the sought after Altitude Living - Terranora. Elevated to capture the views of the Terranora Broadwater and the Cityscape beyond. A generous 667m2 parcel of land with potential to build and live in the stunning Terranora.

If nature and seclusion is what you are after, then look no further than this gorgeous 90.51 acre pocket of rainforest retreat. Supremely located at the end of Nolans Road with a canopy of greenery and stunning scenery meeting you on your descent down the driveway and beyond.

23 The Plateau, Murwillumbah

It may take a creative design but the rewards will be plentiful. The Plateau is such a sought after street and you now have the opportunity to secure a large 1035 sqm vacant block to build your dream home. The land is already securely gated and has views out to Mt Nullum. Situated off a quiet cul-de-sac you won’t find a better location.

Maria Court, Condong

Tweed Valley Way, South Murwillumbah

Main house

Studio

Vacant Land –667m2

Vacant Land –1035m2

Enjoy the space and charm of this character filled three bedroom home, only a short walk to the thriving Murwillumbah Township. Three generous sized bedrooms, sensational polished timber floors through the home, enclosed front sunroom/study, open plan kitchen and dining with gas cooking.

Open home every Saturday until Auction 10am -10:30am

Held onsite at 2.00pm

115

Riveroak Drive, Murwillumbah

Proudly presented by Amy Rosser. For further enquiries phone 0409 641 193

Attention to detail is evident in this immaculately presented 3 bedroom home located in the sought after estate of Hundred Hills. GJ Gardener constructed in 2016, perfectly utilizing the corner block with landscaped gardens and lovely street appeal.

327 Nolans Road, Stokers Siding

A home to get your renovation and creative juices flowing to bring back to its former glory. A high set 3 bedroom home with an enclosed veranda and a massive open plan living space. High ceilings and gorgeous hardwood floors with VJ walls and French doors to accentuate the era and features that are now so on

If nature and seclusion is what you are after, then look no further than this gorgeous 90.51 acre pocket of rainforest retreat. Supremely located at the end of Nolans Road with a canopy of greenery and stunning scenery meeting you on your descent down the driveway and beyond.

12 McMillan Street, South Murwillumbah 312

Darro Road, Terranora

Amy Rosser 0409 641 193

23 The Plateau, Murwillumbah

Key Features Include:

• Open plan kitchen, dining and living with space for home office

This is your opportunity to build your dream home in the sought after Altitude Living - Terranora. Elevated to capture the views of the Terranora Broadwater and the Cityscape beyond. A generous 667m2 parcel of land with potential to build and live in the stunning Terranora.

• Air conditioning to the living space

• Large bathroom with separate shower and spa tub

• Remote single garage with side carport suitable for caravan, boat or trailer

• Additional storage under home

It may take a creative design but the rewards will be plentiful. The Plateau is such a sought after street and you now have the opportunity to secure a large 1035 sqm vacant block to build your dream home. The land is already securely gated and has views out to Mt Nullum. Situated off a quiet cul-de-sac you won’t find a better location.

• Large 778m2 tiered block

• Land Rates - $2740.40 per annum

• Gorgeous street appeal with established gardens

• Views, position and character

Real

391 Tweed Valley Way, South Murwillumbah

5/4

Avenue

HEADS

OWNERS SELLING INVESTMENT - NEAT & TIDY

Greenbank Hospital precinct - 'Allamanda Court'

When you desire location and crave convenience then this unit is a terrific choice!

Solid two bedroom unit in a small complex of only six with low Body Corporate Fees

Open plan living with tidy kitchen and balcony with sun blinds

Single lock up garage

Great investment opportunity

CONTEMPORARY STYLE AND CAPTIVATING

Commanding an elevated presence with views spanning across the Broadwater and beyond

Family residence instantly captivates with an inviting blend of architectural style & quality design

Open plan living and dining with a well-equipped central kitchen and outdoor entertaining deck

Four generous robed bedrooms offer plenty of space for the family

Corner allotment offering dual driveways and easy access to an impressive 664m2

Short drive to local schools, shops, M1 and only 15 minutes to iconic beaches

PRICE GUIDE $1,300,000 - $1,350,000

THE PINNACLE OF ARCHITECTURAL DESIGN & LIFESTYLE BRILLIANCE

Thoughtfully considered design, timeless architecture and modern convenience

Superior finishes and premium inclusions, including a suite of premium integrated appliances

Open plan living and outdoors with the effortless integration with the expansive alfresco balcony

Double lock-up garage with internal access and storage

Nestled in one of Terranora's most popular enclaves only moments to shopping and dining

Immerse yourself in this brand new residence and enjoy a lifestyle without compromise

Spacious one bedroom with ensuite and built-in robes

Large kitchen with heaps of storage plus separate toilet/powder room

Roomy lounge / dining open onto private balcony

Plantation shutters and ceiling fans throughout

10m balcony straddles whole length of apartment 200m flat walk to either Greenmount beach or Rainbow Bay beach

Do you want to know what your property is worth in today's current market?

Schmith Estate Agents is a boutique agency specialising in selling and leasing from Gold Coast to Byron Bay. Local Agent, Ben Tribolet has serviced and successfully achieved premium results for his client around the Southern Gold Coast and surrounds since 2007. We offer an effective and proactive approach that sets us apart from others. Our brand represents sophistication, integrity and success.

CONTACT ME TODAY TO ARRANGE A COMPLIMENTARY AND CONFIDENTIAL SALES OR RENTAL APPRAISAL

Banks

TWEED

81 Henry Lawson Drive TERRANORA

6 3 2

RESORT ENTERTAINER COMPLETE WITH VIEWS, POOL & BAR

Commanding an immediate sense of space, a revelation of quality, style and entertainment excellence unfolds from the moment you enter the property via the secure front gate. Impressive in size and features, nothing has been overlooked in creating this summer masterpiece with versatile indoor/outdoor living options that captures sweeping 180' hinterland, ocean, and Surfers Paradise skyline views within ten minutes' drive to shopping and famous beaches.

3/2 HILL STREET, TWEED HEADS

65 COMINAN AVENUE, BANORA POINT FOR SALE 3 3 2

BOUTIQUE PENTHOUSE WITH PANORAMIC VIEWS ONTOP ICONIC HEADLAND

One of the best pieces of real estate on the east coast of Australia, with front row seats to the beach action, this unique two-level penthouse celebrates the beauty of its idyllic beachfront setting with awe-inspiring views that stretch across from Duranbah Beach all the way down to the headland of Cabarita and Northern NSW. This luxury entertainer in a small complex of only 3 apartments, is sprawled over the top two levels via internal stairs or lift access and offers open plan living throughout. Unbeatable location with unsurpassed irreplaceable views!