TWEED COAST BOUNCES BACK FROM PROPERTY CRASH
Written on the 21 November 2012
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.”