The Weekly Real Estate from Coast to Country, March 21, 2024

Real Estate Estate

How COVID changed Tweed real estate

By Jo Kennett

SINCE THE World Health Organisation declared COVID-19 a worldwide pandemic in 2020, property prices in the Tweed Shire and around the country exploded by $188,000 on average and new data helps explain why.

The median value of homes in the Gold Coast Tweed Heads region is $928,498 — an increase of 68.6 per cent over the past five years.

According to CoreLogic, the legacy of COVID will be with us for a long time.

“Housing values have surged since the onset of COVID,” CoreLogic Asia Pacific Research director Tim Lawless states in The Seven Ways COVID Changed Housing Trends report.

“CoreLogic’s national Home Value Index (HVI) surged 32.5 per cent between March 2020 and February 2024, adding approximately $188,000 to the median value of an Australian dwelling.

“Housing values initially dipped by 1.7 per cent between March 2020 and June 2020 before surging 30.8 per cent higher, finding a cyclical high in April 2022.

‘The market slumped 7.5 per cent

as interest rates rose from their emergency lows, but as inventory dried up and migration boomed, housing values commenced a new growth cycle in February 2023, rising 9.5 per cent through to the end of February this year.”

Rental markets also tightened with vacancy rates still around 1 per cent and rental prices surging.

“Nationally, rents have jumped 32.4 per cent since March 2020, adding approximately $150 per week to the median dwelling rent,” Mr Lawless said.

“Monetary policy has played a key role in both stimulating housing demand, but also temporarily quelling activity as interest rates rose from mid-2022.

“A record portion of borrowers took advantage of fixed mortgage rates falling below 2 per cent through the middle of 2022, fueling speculation of a ‘fixed rate cliff’ as the wave of fixed rate lending terms expired.

“So far borrowers have navigated higher mortgage rates much better than expected with mortgage arrears holding below pre-pandemic levels.”

“Inflation surged on the back of unprecedented peacetime fiscal stimulus and low interest rates as well

Open Homes

Saturday,

March 23

JET

• 1 Tombonda Road, Murwillumbah 9:30-10:00am

• 188 Towners Road, Round Mountain 11:00-11:30am

• 8 McPherson Court, Murwillumbah 12:30-1:00pm

Tate Brownlee

• 8/13 Parkland Place, Banora Point, 9 -9:30am

• 29 Bimbadeen Avenue, Banora Point, 9 -9:30am

• 38 Curtawilla Street, Banora Point, 10 -10:30am

as global supply chain disruptions that were amplified by the war in Ukraine.

“As COVID-related restrictions eased, global demand strengthened.“

Inflation is now beating forecasts, fueling speculation we could see rate cuts later this year, which many Tweed households battling cost of living pressures would love to see.

“Once lockdowns and social distancing measures eased, labour markets tightened significantly,” the report states.

“Although labour markets are now loosening, RBA forecasts have the unemployment rate holding below 4.5 per cent through to at least mid2026.

“Internal migration trends favoured regional markets through the pandemic but have since largely normalised, and open international borders saw overseas migration spike to record highs.”

The Gold Coast and Tweed Heads area had the worst rental affordability in the country, with rents and home values still rising, days on market still short and vendor discounting also decreasing over the last year.

• 3/140 Kennedy Drive, Banora Point, 10 -10:30am

• 81 Jacaranda Avenue, Tweed Heads West, 10 -10:30am

• 10 Bushranger Road, Terranora, 11 -11:30am

• 11 Sexton Hill Drive, Banora Point, 11 -11:30am

• 150 Kennedy Drive, Tweed Heads West, 11 -12:15pm

• 11/39-45 Tweed Coast Road, Bogangar, 12 -12:30pm

• 29 McLeod Street, Condong, 1 -1:30pm

• 47 Bimbadeen Avenue, Banora Point, 2 -2:30pm

• 29 Oyster Point Road, Banora Point, 3 -3:30pm

• 99 Winders Place, Banora Point, 3 -3:30pm

• 19 Seaview Road, Banora Point, 3 -4:00pm

Hot property

THIS WEEK’S Hot Property would have to be one of the best value properties around, with amazing views and close to some of the best beaches, restaurants and shops of Tweed Heads and Coolangatta.

Number 2/144 Kennedy Drive is a two bedroom first floor unit in a small brick pet-friendly complex overlooking Terranora Creek.

T his peaceful haven is only five minutes drive from Cooly and Kirra beach, as well as being close to the M1 for an easy commute and within walking distance of shops. In front of the apartments is a private and sprawling lawn leading to a sandy shoreline and private boat ramp, perfect for anglers, boaties, paddle boarders and water lovers.

The tiled living and dining area has air-conditioning and lovely views, as does the updated kitchen.

It has a gorgeous balcony with a bar to enjoy the sunset over the water. The three-way bathroom includes laundry facilities and there is a single lock-up garage with shelving ideal for paddle and surf boards.

Our Community Comes First

There is also space for a second car in front of the garage. The property is on the market with DJ Stringer, and with a low body corp this low-maintenance home is w orth every cent of the $600,000 to $650,000 the owners are asking for.

• 3 Carla Court, Varsity Lakes (QLD) 4:00pm -4:30pm NSW

DJ Stringer Property Services

• 5 Chestnut St, Elanora 9-9:30am QLD

• 2/5 Foxhill Dr, Banora Point 11-11:30am NSW

• 17 Karingal Ave, Bilambil Heights 11:15-12pm NSW

• 6/24 Dutton Street, Coolangatta 11:30-12pm QLD

• 1/231 Golden Four Dr, Bilinga 12:30-1pm QLD

• 143 Tweed Valley Way 12:45-1:15pm NSW

• 35 Tweed Valley Way 1:30-2pm NSW

Northern Rivers Property Group

• 578 Tyalgum Road, Eungella Friday 12pm

We all live and work here in the beautiful Northern Rivers and we’re serious about doing right by our community.

We value the relationships we form with our clients and potential buyers and personally communicate all the way through the sales process. After all, we’re going to be neighbours.

Michael Spicer Real Estate

Michael Spicer Real Estate

With decades of experience as an Architect, builder and property investor, I am a local, fully licensed independent Real Estate Agent and a Buyers Agent.

With decades of experience as an Architect, builder and property investor, I am a local, fully licensed independent Real Estate Agent and a Buyers Agent.

Because of this unique combination of professional skillsets, I can provide a more personalised, bespoke, boutique-style, 5-star, specialist property service.

Because of this unique combination of professional skillsets, I can provide a more personalised, bespoke, boutique-style, 5-star, specialist property service.

Many of my clients tell me that buying or selling property has usually been extremely stressful. I take great pride in doing all I can to make what is usually a stressful experience as stress-free as possible.

Many of my clients tell me that buying or selling property has usually been extremely stressful. I take great pride in doing all I can to make what is usually a stressful experience as stress-free as possible.

I prefer to work with just one or two clients at a time. You will not be just ‘one-of-many’ listings. You will not be a ‘number’. You will not be assigned a junior team member.

I prefer to work with just one or two clients at a time. You will not be just ‘one-of-many’ listings. You will not be a ‘number’. You will not be assigned a junior team member.

My reviews speak for themselves.

My reviews speak for themselves.

If you would like the level of service you deserve and the best result please feel free to give me a call to discuss what you would like to achieve.

If you would like the level of service you deserve and the best result please feel free to give me a call to discuss what you would like to achieve.

Michael Spicer Realty • 0408 828 982 • michaels@atrealty.com.au

Michael Spicer Real Estate • 0408 828 982 • michaels@atrealty.com.au

By far the best agent I’ve dealt with I’ve been looking to purchase a house for the best part of 3 years, having made a number of o ers during this time and therefore dealing with a huge amount of Agents. Michael was withotut question the most helpful, genuine and transparent agent I have come across.

Someone who truly loves what he does I recently purchased a home in Northern NSW, with Michael working as the agent for the property. Purchasing a home in NSW was complicated by the fact that I lived in Queensland at the time and could not physically inspect the property due to the border closures during the COVID-19 pandemic. From start to nish, Michael ushered me through the process in a very thorough and gracious manner. Michael made himself available at various times so my family could inspect the property on my behalf and was always just a phone call or message away when I had any questions. I felt I could trust Michael to act in my best interests throughout the process, and my trust was entirely justi ed. I wholeheartedly recommend Michael as a real estate agent! I think anyone would nd him engaging, understanding and very easy to work with

—KylieU.

Nothing has ever felt rushed, he has been forthcoming with information and even stepped me through the entire end-to-end buying process, advising me of the scope and responsibilities of the broker and conveyancer. He’s always been available to answer my calls if needed and was fantastic at setting clear expectations for me upfront - it felt like he really cared about my buying journey and I have no doubt he did the exact same for the seller. Every piece of advice or information he gave me was genuine and I felt I could really trust him.

Thankyou so much Michael - buying your rst home is a huge, scary deal and I felt quite helpless not knowing what I was doing, but you were by my side every step of the way and made the whole process – well, easy! I can’t believe it’s just done. I feel like I had almost no stress whatsoever, which is crazy!

Would absolutely recommend Michael to all buyers and sellers –if I ever sell this home, you’ll without question be the person I call!!

Achieved a phenomenal result

—SamaliD.

We have been working interstate a number of years and our house had become a little unloved. Michael helped us put the love back into our property and then took it to market. He was always on the ball and able to adapt to rapid changes in marketing strategies as unforeseen circumstances arose. He achieved a phenomenal result for us in a just a few days and we could not be happier how Michael managed our sale.

The nicest agent I’ve dealt with

I’ve sold a few houses in my time and de nitely the nicest realestate agent I’ve dealt with I dislike salesman egos about how good they are but Michael is de nitely not that person Working for us and not the buyers. His easy going nature and easy to work with. I have no hesitation in recommending him to anyone that wants to sell.

I’ve sold a few houses in my time and he’s de nitely the nicest real estate agent I’ve dealt with. I dislike salesmens’ egos about how good they are but Michael is de nitely not that person. Working for us and not the buyers. He has an easy-going nature and is easy to work with. I have no hesitation in recommending him to anyone that wants to sell.

—SteveMcL.

Most importantly, honest & kind

correspond via email and phone which was always going to be more challenging. Michael is a great communicator, always keeping me up to date with the latest news and giving me advice – on small improvements

He did an incredible job, and I am extremely grateful. Most importantly

Michael Spicer recently sold my property in Murwillumbah NSW, While working with Michael I found him to professional, diligent, very knowledgeable and most importantly honest and kind. As I was interstate the entire time the listing was on the market, we had to correspond via email and phones which was always going to be more challenging. Micheal is a great communicator always keeping me up to date with the latest news and giving me advice - on small improvements we could make to help the property more appealing to buyers. Within 2 months of listing it for sale it was sold for a price I was happy with. He did an incredible job, and I am extremely gratefu. Most importantly I consider Michael to be honest, which I think is the most important attribute a real estate agent can o er. I’d highly recommend Michael to anyone buying or selling property.

—GarethH.

— Con and Robyn D.

Someone who truly loves what he does

I recently purchased a home in Northern NSW, with Michael working as the agent for the property. Purchasing a home in NSW was complicated by the fact that I lived in Queensland at the time and could not physically inspect the property due to the border closures during COVID-19. From start to nish, Michael ushered me through the process in a very thorough and gracious manner. Michael made himself available at various times so my family could inspect the property on my behalf and was always just a phone call or message away when I had any questions.

I didn’t have to stress about any of it

Being out of the country when we were negotiating the purchase of this property must have been quite problematic for Michael and the vendors. Michael went above and beyond to make it easy and smooth, and I didnt have to stress about any of it.

I felt I could trust Michael to act in my best interests throughout the process, and my trust was entirely justi ed. I wholeheartedly recommend Michael as a real estate agent! I think anyone would nd him engaging, understanding and very easy to work with —KylieU.

If you have a property that presents a challenge to nd the right buyer, you must call Michael Spicer! He goes above and beyond what your standard agent provides. If you call Michael to list your property, you will get the best result.

—JoanL.

Michael Spicer shines over any other agent!

“The staff have become like family to my Mum and this means the world to us. We love them too.”

dad safe, protected and happy.”

– Kerry , daughter of a McKenzie resident

– Joanne Smith, Maggie’s daughter.

We believe that everyone deserves to live the happiest life they can. So by providing the right care, the very best

We believe that everyone deserves to live the happiest life they can. So by providing the right care, the very best

We understand that the decision to join our community is a level of care and compassion our residents enjoy, you’ll want to call McKenzie home.

We understand that the decision to join our community is a level of care and compassion our residents enjoy, you’ll want to call McKenzie home.

Our Victorian Residences:

Our Local Residences:

Lynbrook Park

Heritage Lodge | Murwillumbah 194 Byangum Road

42 Olive Road, Lynbrook

The Ashley

17-21 Ashley Street, Reservoir

Ra es | Tweed Heads South Peregrine Drive, O 2 Falcon Way

Rosebrook

441 Waterfall Gully Road, Rosebud

Newmans on the Park

33 Newmans Road, Templestowe

Charlesbrook

1 Innisfallen Avenue, Templestowe

Sut ton Park

1300 899 222 mckenzieacg.com

5 Chestnut Street Elanora

Welcome home to an inviting (4) bedroom family residence, crafted with enduring double brick construction, providing a sense of stability and comfort for your growing family.

Nestled in a tranquil enclave directly opposite the scenic Tallebudgera Creek, this well-proportioned spacious abode offers the perfect blend of convenience and serenity, where you can simply walk around the corner to the 19th Avenue Shopping Centre for everyday necessities.

Boasting an inviting in-ground swimming pool, a dedicated teenagers or parents retreat and meticulously manicured gardens, every aspect of this home is thoughtfully designed to cater to the needs of united family living.

• Formal living & dining area

• Cedar timber kitchen featuring a generous breakfast bench, walk-in pantry & dishwasher

• Generous tiled family / meals area

• Master bedroom w/ walk-in robe & new ensuite

• Bedrooms (2) & (3) equipped with full-length BIR

• Separate powder room

• Spacious main bathroom complete with a spa bath

• Access to rear patio from living & all bedrooms, seamlessly blending indoor & outdoor living

• Versatile family room, easily convertible into a (5th) Bedroom

• Bedroom (4) featuring a new ensuite

17 Karingal Avenue Bilambil Heights

From the moment you arrive home you will be drawn towards a kaleidoscope of scenic views that span well beyond 180 degrees over the Terranora Inlet and out to the Pacific Ocean.

Your spacious split level (3) bedroom residence has the added bonus of a self-contained versatile studio below, which would appeal to the independent extended family or home business.

• Spacious open plan living w/ raked ceiling & bamboo flooring

• Central social kitchen with island bench & plenty of cupboard space

• Master bedroom w/ ensuite & water views

• Main bathroom w/ spa bath & separate WC

• Large entertainers deck commanding exceptional views

• Double automatic lock up garage w/ internal access

• 20 Solar panels

• Newly restored tiled roof

423

For Sale Interest Over $1.495M

Open

Saturday 9:00 - 9:30 am (QLD TIME)

David Stringer 0418 150 731 david@djstringer.com.au

Buyer Range $1.250M-$1.295M

Open

Saturday 11:15 - 12:00pm (NSW TIME)

David Stringer 0418 150 731 david@djstringer.com.au

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