Despite a lot of chatter about housing bubbles and soaring property prices in Australia, there are still pockets of great real estate value and opportunity to be found in our spectacular coastal region.
The Tweed Heads area – taking in areas such as Tweed Heads West, Tweed Heads South, Bilambil, Terranora and of course Tweed Heads itself – is shaping as a market that is attractive to first home buyers and investors.
Data from PRDNationwide Research shows median house and unit prices in the Tweed are significantly lower than those just across the border in the Gold Coast City Region.
While a unit on the Gold Coast will set you back around $400,000, apartment living in the Tweed Heads area comes in at around $350,000.
On the housing front, the median price north of the border is $610,000 while in the Tweed it’s $536,500.
It’s a considerable difference, especially for first-time buyers who can get on the property ladder while still enjoying the fantastic lifestyle, beaches and weather that bring so many people to the Gold Coast.
And purchasers are catching on, with average days on the market declining and the tightening of vendor discounting suggesting that competition is growing.
This comparative value and the consistently high demand for rentals across the Tweed area are appealing to local and out-of-town investors also.
Our research shows that Tweed rental properties are spending less time vacant and are attracting strong yields – 5.2 per cent for units and 5 per cent for houses – slightly higher than Gold Coast yields, and far better than anything a bank can currently offer.
This along with the area’s wafer-thin rental vacancy rate of 0.6 per cent and very limited supply of new dwellings, adds up to a healthy investment environment for investors.
Jason Abbott – Principal