Interest rate hold brings relief

from The Weekly Real Estate from Coast to Country, August 3, 2023

Competition

By Jo Kennett

THE BOSS of the Reserve Bank has put interest rates on hold after the annual rate of inflation fell to 6 per cent, down from 7.8 per cent in December, giving mortgage holders and renters a much-needed reprieve.

The good news will provide confidence for nervous buyers and sellers in the local market and hopefully bring some muchneeded stability after the barrage of rate rises left many vulnerable households reeling.

JET Real Estate

Director and licensee of JET

Real Estate Jason Dittmar said he was seeing a lot of locals in the property market at the moment.

“There are a lot of locals in the market with families upsizing for space to accommodate growing families, while there are also a lot of retirees downsizing from double-storey houses to single level with space for their caravan or motorhome, as well as farmers moving to town on larger blocks with privacy,” Jason said.

“There are also quite a few purchasers needing to sell before buying, which is understandable because they don’t want to be caught out not finding their ideal property and having to contend with finding a rental which is in very short supply.

“There is currently a shortage of supply for vacant blocks, three to four bedroom larger homes at Nunderi and Dallis Park, and five acre farms with usable space ten minutes from Murwillumbah.

“Properties priced correctly will attract a fair price in a reasonable time.”

Jason said there was still a very high rental demand for affordable housing “as well as quality property for long-term tenants.”

“Even if property owners are not considering selling or renting, it is an ideal time to catch up with JET Real Estate to discuss ways to maintain your property for investment in your future,” he said.

Tate Brownlee

Tate Brownlee principal Tate Brownlee said that he was seeing the most interest for Tweed property coming from the cities and other states.

Open Homes

“There are lots of interstate buyers and lots of Sydney interest,” he said.

“We have seen demand increase in the market.

“There is a shortage of supply indicating now more than ever the perfect time to list before distressed selling becomes more apparent with rising interest rates.”

Schmith Estate Agents

Schmith Estate Agents principal Justin Schmith said the majority of queries he was getting were coming from Victoria, and Melbourne in particular “is a massive standout buyer pool at present.”

“Can you blame them with our weather,” Justin said.

“The market is all over the place and hard to predict.

“What is very clear, is anything turn key, low maintenance and ready to move in is doing very well.

“Anything needing work, not so much.”

Justin said rural acreage property has gone back to normal days on market, around six to 12 months.

“We are still getting good offers, it’s not the buyers that are the problem,” he asked.

“There is still a slight lack of stock but this may change soon at any point.

“Confidence is still a little shaky and you see that in the indecisiveness of both buyers and sellers.

“Rentals are interesting; all the hype about under supply and high demand is true for rentals up to $750 per week.

“Anything over this market, say $900 per week plus, is starting to get tricky.

“Some people are just hanging onto their homes under the mortgage stress/slave to the mortgage repayments and there will still be more interesting times to come.”

Many economists think the muchmaligned Reserve Bank governor Phillip Lowe, who will be replaced by Michelle Bullock in September, has made the right call on interest rates.

Considering the lag on the effect of the recent rate rises on inflation, which rent rises help to keep high, and the corporate price gouging which global indicators show has been the biggest cause of high inflation, it seems a prudent move.

First National Real Estate Murwillumbah

468 Smiths Creek Rd, Smiths Creek, 9- 9:30am

257 Dulguigan Rd, Dulguigan, 10-10:30am

20 Mount Burrell Rd, Mount Burrell, 10:15-10:45am

31 Eyles Ave, Murwillumbah, 11-11.30am

35 Cooloon St, Kunghur, 11.30am-12pm

29 Waterlily Close, Nunderi, 12-12.30pm

Substantial Seagulls waterfront home

Set on the popular Seagulls Estate, this hi set waterfront home offers numerous living and entertaining spaces and a versatile lay out that will appeal to growing and extended family situations.

The separate pool house has its own covered deck overlooking the water and includes a kitchenette and bathroom and provides options as a clubhouse for lazy summer afternoons around the pool, guest accommodation or a retreat for parents, teenagers or even granny!

The main residence comprises 3 large bedrooms and family bathroom upstairs and downstairs houses big open plan living, dining and kitchen areas as well as an adjacent sunroom overlooking the inground pool, backyard and canal. The garage with internal access, laundry and second bathroom are also on the lower level.

• Private pontoon with plenty of room for the tinny, kayaks, stand ups and other watercraft.

• Timber flooring upstairs.

• Spotless presentation and family size kitchen.

• Short, flat stroll to Seagulls Leagues Club, Panorama Plaza shops and riverside parkland walking path.

• Easy access to Gold Coast Airport, motorway north and south, patrolled beaches, major shopping centres, schools and all other services and amenities.

• Bus stop at the front door.

• Quiet, well established neighbourhood.

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• Yabbies, fish and mud crabs 2 minutes away.

• Ideal sanctuary and living environment for active, water sports loving families.

“Pack the fishing rods, yabby pump and crab pots – you’ll need them!”

For Sale By Negotiation

Inspections by appointment

Nassau – top shelf riverfront real estate

Nassau is a boutique, tightly held building of only thirteen apartments. Unit 9 is ideally situated on level four with a perfect north easterly aspect that takes full advantage of the exceptional 180 degree views on offer.

Starting with views to the north towards the Rainbow Bay coastline and Point Danger to the river mouth across to the natural bushland beauty of Letitia Spit and Kerosene Bay and up to Fingal Headland and beyond. There are even Hinterland views from the balcony off the main bedroom! The position and aspect of the unit ensures plenty of sunlight when you want the warmth in winter, and also the cooling breezes when you need them in summer.

• Car rarely required – walk everywhere! Short, flat stroll to Tweed Mall shops, patrolled beaches, clubs, medical services and the vibrant Coolangatta cafe + restaurant precinct plus lots, lots more.

• Immaculate presentation.

• Safe and private building with only two units per floor.

• Secure car space and individual storage cupboard.

• Popular riverfront walking path on your doorstep.

• Enjoy the morning cuppa on the sunny balcony and watch

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• Spacious, open plan living areas.

• 180 degree views on offer

“It’s all about… Position, Position, Position!”

$1,195,000

Inspections by appointment kel@keljuddrealestate.com.au www.keljuddrealestate.com.au

This charming property is now available for sale for the first time in forty years

Offering a comfortable and private living experience in a desirable leafy setting

Generous garage with space for two vehicles, providing ample storage and convenience

Acreage lifestyle yet only 15 minute's to Coolangatta Beach

Located in a sought after location, providing a serene and tranquil environment

Situated on a sprawling just shy of 2 acre plot of land (7,815m2)

1 Coodgie Street TYALGUM

Mixed-use zoning, ideal for both residential and commercial development

Large double block on two titles, encompassing 1,518m2 providing ample space

Tranquil vibes and community feel, two minute's walk to the heart of Tyalgum village

Spacious three bedroom home with authentic Scandinavian fireplace

Tandem drive through lock-up garage and side access

Dual street access, convenient rear lane access enjoy easy accessibility and exposure for potential commercial endeavours

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LAND stress of everyday life, offering an unmatched sense of peace and tranquility and a babbling creek taking full advantage of the panoramic mountain views, the Pinnacle and Mt

The property features expansive natural beauty, including old-growth trees, With ample space, you have the freedom to design and build your dream home,

Warning

- 11 ACRES MICHAEL KELLY 0411 114 923