Real Estate THURSDAY, JULY 1, 2020 FROM COAST TO
COUNTRY
WWW.TWEEDVALLEYWEEKLY.NET.AU
Million-dollar listings booming with record prices
By Jo Kennett and Jonathon Howard
MILLION DOLLAR properties are booming across the Tweed Shire with a surge in city buyers from across the country including some purchasing sight unseen, according to local real estate agents. Despite industry fears of a COVID-19-led downturn in housing prices, real estate across the Tweed and Southern Gold Coast has seen a price jump in recent months, with million-dollarplus listings becoming the new normal. Sotheby’s International Realty Senior Sales Executive Northern Rivers Dominique Williams said she sold a home this week at Hastings Point for a record price for the suburb “in the mid $4-million mark”. “It sold within ten days of going on the market to two prominent Hong Kong businessmen, they are expats who bought it through Facetime and Zoom and will be locating back to Australia next year,” Ms Williams said. “There are so many buyers in the $3 to $4 million market, it’s been overwhelming.
“There is a massive amount of cashed-up expats wanting to come back to Australia and they are looking for lifestyle locations. “Historically they would buy in Byron, but we are finding a lot of buyers wanting to come back to somewhere quieter.” Ms Williams said the property “would never have come on their radar if we hadn’t put it in front of them”. “We also had a lot of Brisbane, Sydney and Melbourne enquiries,” she said. “We’ve proven you don’t need to be in the office and there is an airport at the Gold Coast.” LJ Hooker Coolangatta Tweed Sales and Marketing Specialist Lee-Anne Klaus said they had a number of million-dollar listings coming on. “Most of our buyers are coming from interstate,” Ms Klaus said. “One just sold on Terranora Road for $1.3 million and that was definitely a record. “I think they are going to move from Sydney in droves because you get much better value, lifestyle and weather. “I sold a million-dollar property to a woman from Dubai last year
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sight unseen and there are a lot of people looking at doing that. “We have buyers from Melbourne that are desperate to buy because they have sold down there and want to get up here.” Tweed Coolangatta Real Estate Principal Michael Smith told The Weekly that the main housing over the million-dollar mark are waterfronts “and they are selling well”. “If you found a canal home in Tweed for a million dollars you would grab it quick,” he said. “I recently sold one for $1.3 million and they knocked it down to build a new one. “They were local buyers that wanted to move to the Tweed Heads waterfront.” Mr Smith said they were getting a lot of enquiries from prospective Sydney and Newcastle buyers. “There is an exodus from the cities coming to the Tweed and if they can’t come up to look at properties, they have parents who live here looking for them,” he said. “We had people coming into the country before COVID that they put on a bus and took
The Hastings Point property sold by Sotheby’s for over $4 million
around to properties and they buy them after looking at it for five minutes. They are trying everything.” Prices on the Tweed Coast are also going through the roof, with one buyer shocked to get $1,335,000 for his home in the Black Rocks Estate on Overall Drive at Pottsville. Another house on the same street sold for $1.1 million while
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two homes in Surfside Crescent, Pottsville, sold for $1.25 million and $1.2 million respectively. A home in Elanora Avenue at Pottsville sold for $3 million in early July. Pick up a copy of The Weekly next week for part two of our “million-dollar Tweed” report.
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