Tweed Heads Market Update 2 nd H a l f 2 0 2 4
FUTURE DEVELOPMENTS
OVERVIEW
In Q2 2024, Tweed Heads* recorded a median house price of $1,075,000 and a median unit price of $760,000. This represents annual (Q2 2023 – Q2 2024) growth of 10.3% for houses and 5.6% for units. Comparing Q2 2023 and Q2 2024 total sales increased by 6.0% for houses (to 351 sales in Q2 2024), and by 17.9% for units (to 257 sales in Q2 2024). There is high demand in Tweed Heads*, which has created a buffer against higher interest rates. This is evident through the price growth in the past 12 months and 3 months, making it an ideal time for owners to capitalize on their investments. Further, with no new stand-alone houses planned, home buyers should act fast before further price growth occurs.
CHANGE FROM LAST
YEAR
Tweed Heads will see approximately $216.5M of new projects commencing in the 2nd half of 2024. Commercial Residential
$20.8M
Industrial
$19.2M
$11.0M
HALF YEAR
HOUSE SALE S
Infrastructure
Mixed-Use
$57.1M
$108.5M
HOUS E ME D IAN PRICE HOUS E RE NTAL PRICE
These projects will stimulate economic growth and create local job opportunities in Tweed Heads. This will have a spill-over impact on the real estate market, in the form of higher demand for housing.
UNIT S AL E S UNIT ME D IAN PRICE UNIT RE NTAL PRICE
A main mixed-use project in 2024 is Kings Forest At Kingscliff Master Plan Community ($100.0M), which plans to add 4,500 dwellings. This includes constructing 2,700 low-density and 1800 medium-density dwellings. This is a long-term plan, with a planned completion timeframe in mid-2030.
$ MARKET CONDITIONS MEDIAN PRICE Q2 2024
$1.07M
$760K
MEDIAN PRICE Q2 2024
$750
SALES
AVERAGE DAYS ON MARKET Q2 2024
55
47
HOUSE
U N I T
RENTALS
$650
Residential projects include: •
Kai Residences Kingscliff (14 Units)
•
75 Kingscliff Street Townhouses (3 Townhouses)
There are still no new ready-to-sell houses planned in the short term. This suggests further price growth.
AVERAGE DAYS ON MARKET Q2 2024
31
22
HOUSE
U N I T
6 Townhouses
17 Units/ Apartments
4,500 Dwellings