Real Estate THURSDAY, JULY 1, 2020 FROM COAST TO
COUNTRY
WWW.TWEEDVALLEYWEEKLY.NET.AU
Million-dollar listings going “gangbusters” say agents By Jonathon Howard
MILLION-DOLLAR LISTINGS continue to hit the
Tweed Shire and Southern Gold Coast markets with a buzz in the air across the real estate sector despite a lack of new listings. The Weekly last week reported a recent surge in million-dollar listings in the past month, with local agents reporting a “definite surge” in interest from overseas and from the big cities. DJ Stringer principal David Stringer, who sells many luxury properties on both sides of the border, said he was finding a lot of interest in the million-dollarplus market. Mr Stringer also confirmed rumours that overseas buyers are purchasing sight unseen in what has been described as “frenzy buying”. “We’re currently seeing a lot of enquiries for between a million to $2.5 million with buyers generally wanting larger apartments with an ocean vista,” he said. Mr Stringer is expecting more million-dollar properties to hit the market, “as traditionally this is a good selling season during spring and summer times”.
“The Tweed has several complexes that would demand in excess of the million-dollar mark, which was evident with a recent sale of an apartment in ‘Seascape’ which demanded plenty of enquiry and was placed under contract around $1.25 million,” he said. “The million-dollar market demand is higher than other price ranges at present and as such is pushing prices up. “So, plenty of demand and not enough supply. Listings are down by around 20-30 per cent and it really is a sellers’ market.” Mr Stringer said Tweed and Coolangatta residents were “extremely lucky” to have our own “real estate bubble” with an amazing and enviable lifestyle which is now being eyed off around the nation. The Tweed Coast Pro also put the eyes of the world on the Tweed Shire, which boasts incredible coastal and valley lifestyles. “We’re getting such a draw from our southern cities and overseas,” Mr Stringer said. “We’ve had a few sight unseen sales, including from a New Zealand family, and Melbourne
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family, and another from Sydney.” Mr Stringer said he believed the million-dollar Tweed market will support the lower end overall, as many more buyers are poised to relocate north with varying budgets. “The bottom end will always creep up with sales like this,” he said. “There’s so many buyers of all demographics that see this area a perfect haven, with a large percentage of baby boomers leading the charge. “The expected significant population growth, stable employment, new residential developments on the cards and attractions, such as our world class beaches, climate, health, medical and sporting facilities, all add to make this region so attractive to buyers of all walks of life, regardless of their age. “When the borders open up, we will be waiting with open arms.” First National Murwillumbah licensee Scott Reading said he has noticed a lot more interest in rural properties across the million-dollar-plus market. “We’re receiving a lot of enquiries for the Nunderi
and Nobbys Creek areas for properties priced around one million or just under,” he said. “The properties are receiving a lot of enquiries straight away and as long as they’re priced right, they are selling quickly.” Mr Reading said he has made sales for clients sight unseen including for Melbourne families wanting to escape the city. “Yeah, we’ve received offers for a few properties sight unseen for a couple of Melbourne families,” he said. “Not something we’ve seen much of in the past, but lately it’s happening.” Mr Reading said the Tweed Shire housing market was becoming an attractive alternative to Byron Bay and the Gold Coast. “Because we’re a more affordable option, we’re getting a lot of interest across the Tweed,” he said. He’s also confident that the Tweed Shire has “plenty of growth to come”. “I still see a lot of growth to come from the Tweed,” he said. “We’re seeing quite high prices with a lot of interest in the lower and upper ends of the market.
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“We find a lot of people want to move out of the cities and suburban areas and relocate to more a more rural lifestyle.” Raine and Horne Ocean Shores/Brunswick Heads/ Murwillumbah principal JulieAnn Manahan said the housing market across the Northern Rivers and Tweed Shire “has been phenomenal”. “We have a strong influx of buyers relocating from major cities as COVID-19 continues to show them how easy it is work remotely ... obviously this depends on the industry of course,” she said. “Small acreage and lifestyle properties have seen the highest level of enquiry from our stats. “These properties have ranged in price from just under a million to well over $2 million. “Our very targeted digital campaigns show us the numbers so we can identify those hot spots very quickly.”
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