Who is buying on the tweed coast?

Wednesday 28 Feb 2018

 

Christmas saw our seaside towns swell with visitors, and the Tweed Coast was buzzing.


No sooner had the sun set on New Years Day, the last public holiday of the peak season, the phone started ringing with inquiries. Noticeably busier than January 2017!


We’ve said it before…….our coast is getting attention from all states on the Eastern seaboard. Inquiries were from genuine buyers, and each year we see their budgets expanding, reflecting the value growth in Sydney, Melbourne and Gold Coast. Now it seems that high $800 – low $900k is our entry level market.


January 2018 has delivered a record sales month for LSP, and the first quarter is presenting a strong pipeline of listings and inquiries.


2017 was a strong year for real estate on our coast, and the market is establishing some new benchmarks in achieved sale prices.

  • Beachfront Casuarina – sales from mid to high $900k - $1m for land and up to $2.7m for homes. In Jan 2018 we have had negotiation north of $3M for prestige beachfront off market…
  • Beachfront Salt/Kingscliff – again sales north of $1m for land and up to $3.45m sale for a home.  Again more negotiations north of $3M on currently listed property… 
  • Off beachfront Casuarina – homes selling from approx. $800K to just under $1.9m (for two homes in past three months) - exceptional off beachfront homes in superb locations
  • Off beachfront Salt/Kingscliff – Sales hitting the $2m mark and slightly under 
  • Pottsville – we have concluded two beachfront sales north of $2m - just concluded the latest one which will hit the records in a few weeks, just under $3m, which sets a new benchmark


Interesting to note that these record home sales all had excellent presentation, superb locations and key element/s that the purchaser specifically required.


WHAT elements are important to today’s buyer?


In no particular order….

  • Home office
  • Large garage and general storage
  • Downstairs guest bedroom and full bathroom
  • Many request ducted air-conditioning despite good ocean breezes
  • Environmental – solar panels for water and electricity, water tanks etc.
  • Walk-in pantry
  • Beach and amenity access
  • Access to good schools


WHERE are the buyers coming from?


Our website analytics indicate that website traffic is being dominated by:


55% Sydney – still very strong despite their market softening in areas

20% Brisbane – a lot of active retirees from Brisbane and young families seeking holiday homes

7% Melbourne

6% Gold Coast – We see this group increasing, as well as buyers from the broader Byron Bay area


The dominant age group is 35-54 year olds, with women driving 65% of the website visits.  


Some notable local updates……

  • Our area is fast becoming a priority destination for weddings and functions, with new locations Fins at Plantation House and Ancora now in full swing - both venues experiencing strong interest and bookings!
  • Kingscliff foreshore. The Kingscliff Foreshore Revitalisation, a three-stage $21.8 million project being undertaken by Council to protect and enhance facilities along the Kingscliff CBD coastline, is almost complete with the park set to be open to the community in early 2018.
  • Halcyon Spa recently opened to support the existing, award winning boutique hotel.
  • “The Commons” central precinct is almost open, and will bring an important hub to the merging Casuarina CBD. Click here for a recent article.


Lots of talk about the new Tweed Hospital that will be built and relocated.  Dates, times and locations still to be confirmed.  This will be a huge boost to our growing area and support investors looking to buy.


IN A NUTSHELL… we live in in an amazing area, and the country agrees.  Life here is simply very good for all age groups and will continue to deliver for years to come.  Good infrastructure is in place for the growth and we are so grateful to represent this area and live amongst it all!

 


PS....Aside from our newsletters like this one, we do put out weekly Open Home alerts, and specific Property Alerts for new listings, or changes to existing listings. If you are not receiving these emails, and would like to, please email us on info@lsproperties.com.au and we will update your preferences



Kind Regards,
LS PROPERTIES