TWEED COAST BOUNCES BACK FROM PROPERTY CRASH

Written on the 21 November 2012

TWEED COAST BOUNCES BACK FROM PROPERTY CRASH

THE Tweed Coast property market has recorded its best sales performance since the Global Financial Crisis in 2012, says Ray Real Estate sales agent Bruce Williams.

Ray Real Estate single-handedly helped close a record 182 sales worth $48 million throughout the past year with re-sales adding a further $20 million.

The figures are a five-year high for the region. Sales involved a mix of beachside and creekside lots, apartments and homes at Salt Village, Seaside and Casuarina Beach with land prices starting from $215,000.

Williams says the clearing of receiver stock, market competition and introduction of new government incentives were all factors.

“The GFC saw a number of properties and land holdings on the Tweed placed into the hands of receivers, which meant stock was being sold at distressed values – which affected pricing across the entire area,” he says.

“New developer stock, priced competitively at affordable rates, introduced to the market over the past year, has helped to rebuild values.

“Buyers have also been lured by the New South Wales Government’s boosted $15,000 first-home buyer grant and stamp duty reductions, which have helped to make the Tweed Coast even more attractive – especially to families across the border looking for an inexpensive beachside home.”

Willams says the Tweed’s strong fundamentals were key secrets of success.

“Including improved infrastructure and employment opportunities, solid underlying demand for property and a prime location close to the coast and city,” he says.

“These fundamental strengths will ensure a continued upward trend over the coming years.”


Latest News

WOOLWORTHS CLAIMS LEGAL VICTORY IN STOUSH WITH LOWE'S

SUPERMARKET giant Woolworths (ASX: WOW) has been given the go-ahead to sell its Masters property assets after winn...

DOMINO'S PIZZA EMPLOYEES OFFERED A SLICE OF THE PIE

DOMINO'S Pizza (ASX: DMP) has launched an employee share acquisition plan which will give its 26,000 staff the...

PRICELINE STORE ROLLOUT BOOSTS API'S FULL YEAR PROFIT FORECAST

Australian Pharmaceutical Industries (ASX: API) has booked a rise in half year net profit of $29.1 million on the bac...

CITY DWELLERS SETTING EYES ON REDCLIFFE AS PROPERTY SEACHANGE BECKONS

IT MAY be cool by the sea at Redcliffe, however strong sales at Kyko Group's Mon Komo development prove that t...

Related News

FURNITURE DISRUPTOR SET TO SHARE HIS ONE OF A KIND BUSINESS MODEL

IT'S no secret that Australians love homemaking. Their ceaseless quest to create the perfect place to call hom...

WEEDING OUT THE ASX'S BURGEONING CANNABIS TREND: 8 COMPANIES TO WATCH

A NICHE is budding on the ASX in the form of medical cannabis, an industry which has been on the country's rad...

FRESH CLASS ACTION TO REVEAL ANOTHER SIDE OF SLATER AND GORDON DOWNFALL

ACA LAWYERS has issued a formal letter of demand to Andrew Grech (pictured), managing director of Slater and Gordo...

STARSHIPS WERE MEANT TO DELIVER DOMINO'S PIZZA

NICKI Minaj may have been off the mark when she declared 'starships were meant to fly'. However, she m...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter