Real Estate THURSDAY, JULY 22, TO 2020 COUNTRY FROM COAST
WWW.TWEEDVALLEYWEEKLY.NET.AU
Richmond-Tweed tops the list in rental price boom
By Jonathon Howard NEW DATA from CoreLogic shows record breaking rises in rental prices for the RichmondTweed region, which are pushing many to the brink of homelessness and housing stress. The effects are being felt in the Tweed Shire, with several residents contacting The Weekly this week to highlight the plight of single parents living in their cars. One resident said she has savings and is ready for a rental, but has applied for almost two dozen and faced fierce competition. In fact, the Richmond-Tweed has topped the list for the highest increase in rents, with a 17.6 per cent increase. Regional Australia recorded an annual rate of rental growth of 11.3 per cent in June 2021. This is the highest annual growth result on record, with the CoreLogic rental index commencing from 2005. There was a 5.0 per cent increase in rents across the nation’s capital cities. CoreLogic said more people have moved to regions through the September and December quarter.
“Alongside the fall in people going from regions to cities, December and September quarter data from the ABS [Australian Bureau of Statistics] showed an increase in migration from cities to regions, compared with the equivalent quarters in 2019,” CoreLogic reported. “Over the whole calendar year, there was actually less migration to regional Australia from cities (at 233,122) than in the previous year (233,779). “Regional relocation from cities to regions may also be increasingly skewed to higherincome workers, which would put further upward pressure on purchase and rent prices. “This is because remote work tends to be concentrated in the ‘knowledge economy’, such as for professionals, as well as clerical and administrative workers.” Kate Colvin from Everybody’s Home said the rent increases are a troubling sign for Australians living in housing stress, as well as those currently experiencing or on the brink of homelessness. “While rents have increased across the board, wages and welfare payments have not kept up, putting even more pressure on Australians already struggling
Saturday, July 24
Open homes Raine & Horne Ocean Shores/Brunswick Heads/Murwillumbah: 13 Warrambool Road, Ocean Shores, 9am-9.30am 32 Gloria Street, South Golden Beach, 9.30am-10am 8 Park Av, Bray Park, Murwillumbah, 9.30-10.30am 4 Terrara Court, Ocean Shores, 10am-10.30am 13 Peter Street, South Golden Beach, 11am-11.30am
The Tweed Shire rental market is becoming more and more expensive
to access stable housing,” Ms Colvin said. Rental prices rose across the country for the past 12 months, with Darwin recording the highest increase of 21.8 per cent. Perth was second with an increase of 16.7 per cent. Hobart’s rental prices jumped 8.8 per cent, Brisbane saw an increase of 7.3 per cent and Adelaide recorded a 7.2 per cent rise. Rents in Canberra rose by 7.3 per cent over the past year and in Sydney by 3.2 per cent. Melbourne was the only capital city to see a decline of 1.4 per cent. While rents rose at a rate of 6.6 per cent, the wage price
index showed a 1.5 per cent increase for the March quarter, while the JobSeeker payment was increased by just $25 a week in February. “Rising rents combined with stagnant wages and welfare payments has created a precarious situation for many thousands of Australians,” Ms Colvin said. “Unless the Federal Government takes action and builds social housing, more people will be plunged into housing stress and homelessness. “That will not only deepen inequality but will also deny Australia of the contribution they would otherwise be able to make.
“The disaster will not only be social, it will also come at a huge economic price. “Without access to safe secure housing, people cannot lead fulfilling lives of any kind. “If we want people to have jobs and contribute to the economy, we must ensure everybody has a place to call home as a starting point. “That can only happen if the Federal Government makes an urgent investment in social housing.” Data released last month by the Australian Institute of Health and Welfare shows that from 2014 to 2020, the proportion of social housing households fell from 4.6 to 4.2 per cent.
61 Riverview St, Murwillumbah, 11am-11.30am 20 Natan Circuit, Ocean Shores, 11am-11.30pm 400 Racecourse Road, Murwillumbah, 12pm-12.30pm 41 Tuckeroo Av, Mullumbimby, 12.30pm-1pm 135 Campbells Road, Dungay, 1.30pm-2pm 2 Kanandah Court, Ocean Shores, 2pm-2.30pm 388 Middle Pocket Road, Billinudgel, 2pm-2.30pm 6077 Tweed Valley Way, Burringbar, 2pm-2.30pm 405 Fernvale Road, Fernvale, 3.30pm-4pm
6/18 Pearl St, Tweed Heads, 10am-10.30am 2/6 Cantwell Ct, Miami, 11.30am-12pm
DJ Stringer Property Services
First National Murwillumbah
20/32-34 Musgrave St, Coolangatta, 9am-9.30am 1145/6-8 Stuart St, Tweed Heads, 9am-9.30am 1002/37 Bay St, Tweed Heads, 10am-10.30am
113 Riveroak Drive, Murwillumbah, 10am-10:30am 587 Urliup Road, Urliup, 10am-10.30am 1429 Numinbah Road, Chillingham, 11am-11.30am
Tate Brownlee Real Estate 17/2 Creek Street, Hastings Point, 9am-9:30am 3 Trutes Terrace, Terranora, 10am-10:30am 17 Firetail St, Tweed Heads South, 10:30am-11am 4A Oyster Point Rd, Banora Point, 11:30am-12pm 2/2 Cabernet Ct, Tweed Heads South 12:30pm-1pm 3/18 Hill Street, Tweed Heads, 1pm-1:30pm
We are so thrilled and honoured to be nominated in REI NSW Awards for Excellence... Now into its 25th year, the prestigious Real Estate Institute of New South Wales Awards for Excellence are the most respected and highest honour within the real estate profession, acknowledging exceptional performances across the industry. The 2021 finalists have just been announced.
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Among those honoured was our team at Raine & Horne Ocean Shores/Brunswick Heads & Murwillumbah, who have been shortlisted as finalists in the RESIDENTIAL SALES TEAM category. Megan Chynoweth, our Sales team’s Administration Manager, is also a finalist in the OPERATIONAL SUPPORT category.
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We are so thrilled and honoured to