Real Estate FROM COAST TO COUNTRY
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Coast and hinterland real estate still in high demand
By Jo Kennett THERE IS still strong growth in the local property market, with record prices and Sydney buyers the predominant players, according to local estate agents. Paul Stobbie from Northern Rivers Property Group said Tweed Shire hinterland real estate was still in hot demand. “The market in the Northern Rivers remains very strong despite the lockdowns of NSW and the problem for Queenslanders not being able to come to NSW and then return home without a lot of conditions being met,” Mr Stobbie told The Weekly. “That, coupled with an increasing stock level over the last two months – with 21 new listings coming to market with our agency alone over that period – has definitely slowed it a little, but make no mistake, it is still very, very strong with record prices still being achieved every day. “We have achieved 17 sales during that period as well; so stock is still moving.” Mr Stobbie said he thought slowing prices didn’t indicate a lack of potential buyers keen to buy property in the area. “It’s not so much that prices are not continuing to rise, but with increasing stock and a reduction
in physical inspections due to lockdown protocols holding back more than usual offers, we are feeling a slight slowing on the ground,” he said. “However, I don’t think we have hit the top of the market just yet and wait to see the market reaction in the coming months as an easing of restrictions starts to take effect. “We suspect it will push again and gain more momentum, as evidenced by the amount of people in hard lockdown areas looking to purchase properties simply from walk-throughs on video with the agent.” Mr Stobbie believes we will see a new surge in our area once NSW and Queensland residents can freely move around and through our region. “Rural lifestyle properties across the whole of the Northern Rivers are still gaining a lot of attention from people looking to get out of lockdown areas and futureproof any further pandemic restrictions with self-sustainability high on purchasers’ agenda when looking at rural lifestyle properties,” he said. “Dual living properties have also received a lot of attention with family members deciding to pool their money in what has been a very sharp price increase for properties in our area since the start of this year.
Open homes Saturday, September 18 Raine & Horne Ocean Shores/Brunswick Heads/Murwillumbah: 10 Durigan Place, Banora Point, 10am - 11am 2 Kanandah Court, Ocean Shores, 11am - 11.30 49 Ewing Street, Murwillumbah, 11am - 12pm
“Murwillumbah’s residential entry level price is now around $600,000 with surrounding rural properties starting at around $900,000. “We are also finding a lot of buyers even moving locally from the coastal fringe of Casuarina, Kingscliff, Cabarita and the Byron region looking to cash in on their huge gains over the last 12 to 24 months and buying into our area, which while seeing strong price increases, is still looking relatively affordable if you are already in those markets.” Selling Principal & Director at Schmith Estate Agents Justin Schmith said things have still been busy on the coast even with the lockdown. “I’ve been working 12 to 16 hour days; we had 72 groups through to look at one property in three weeks which is a lot of people to try to get back to,” he told The Weekly. “There were no open homes during lockdown; it was one in, one out, but we did a lot of FaceTime inspections. “We took 18 people through a Tweed Heads West duplex in two weeks; we were hammering down that we only wanted serious buyers because of the lockdowns. “We had multiple offers, with a lot of interest from locals, but
This renovated three-bedroom duplex in Tweed Heads West sold recently for $585,000 to a Sydney investor
it closed at about $585,000; it was bought sight unseen by an investor from the Northern Beaches, from Brookvale [Sydney]. “That’s pretty good considering you couldn’t sell a house there for $500,00 not that long ago. “It’s not her first investment property and I think eventually they might move up when they get older.” Mr Schmith said the Tweed Heads area, the Tweed Coast and the Gold Coast were seeing a lot of buyers from Sydney’s Sutherland Shire and Northern Beaches “I don’t think the market has slowed down; we had 3,000 views and 65 emails for the Tweed Heads West property,” he said. “We sold a property in Smiths Creek that had been on the market for six months with a Brisbane broker.
6077 Tweed Valley Way, Burringbar, 12.30 - 1pm 8 Park Avenue, Bray Park, 12.30 - 1pm
DJ Stringer Property Services 22/27-29 Dutton Street, Coolangatta, 9am - 9.30am 4/60 Coolangatta Road, Kirra, 10am - 10.30am 1/27 Alpha Ave, Currumbin, 11am - 11.30am
Northern Rivers Property Group 31 West End Street, Murwillumbah, 10am - 10.30am
“It had six chalets and a resortstyle setting and a list price of $3.85 million and Michael Kelly sold it with multiple interests in one week. “I sold a house in Stanley Street at Tweed Heads for $850,000 and that was for a first-home buyer from Burleigh. “Most of the enquiries came from Melbourne and Sydney, but particularly Sydney.” Mr Schmith is expecting the spring selling season to be good as well. “Growth will still track north all the way to Christmas; it’s not going down,” he said. “It’s still tracking at about eight per cent growth and by the end of the year certain areas like Tweed could have seen 25 per cent growth over 12 months. “We’re not expecting it to plateau until later next year.”
First National Murwillumbah
19 Hibiscus Parade, Banora Point, 9am - 9.30am 16 Oakbank Terrace, Murwillumbah, 10.45am 11.30am 1/21 McPherson Court, Murwillumbah, 11.45am 12.30pm
Tate Brownlee Real Estate
1/32 Sand Street, Kingscliff, 9:30am - 10am 41 Gollan Drive, Tweed Heads West 12pm - 12.30pm 11 Bawden Street, Tumbulgum, 2pm - 2:30pm
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