Real Estate FROM COAST TO COUNTRY
Data shows Tweed settling into a buyer’s market HOLD ON to your hats folks and prepare for the latest data bomb from Core Logic, with all the latest on sales, sale volumes, home values for the region and the Tweed Shire, which is definitely continuing the trend from a seller’s to buyer’s market. It’s all about the numbers and the latest data Core Logic released on sales in the Richmond-Tweed area, which includes Byron Bay, showed that 4,376 homes were sold in the region over the past year, 26.2 per cent lower than one year ago, and 24.4 per cent below the five-year average for the region. So perhaps the rush to cash in on the pandemic price boom is finally over, which is great news for buyers, although stock is obviously still a bit tight. Agents are expecting that to change with the onset of the spring selling season when more properties seem to go to market. House sales in the RichmondTweed region were down 28.8 per cent while unit sales were down 19.7 per cent. House values were down 20.4
per cent over the year to the end of May, while unit values had only dropped 11.4 per cent. The median value for a home in the Richmond-Tweed was $899,408 and for a unit it was $666,710 at the end of May. Vendor discounting also had a slight increase. For houses it was 6 per cent over the year, slightly up from last year’s 5.8 per cent. For units, vendor discounting was 4 per cent, up from 2.9 per cent at the end of May, 2022. Days on the market for houses was 72, up from 44 last year, while units were on the market for an average of 51 days before they sold, up from 33 days in the year to the end of May, 2022. The Richmond-Tweed region again recorded the lowest yearly growth rate in house prices in the country, from 24.2 per cent yearly growth in our last quarterly regional report, to -20.4 per cent over the year to July 2023. The lowest yearly growth rate in units in Australia up to the end of July, 2023, were found in Launceston and North East (Tas) and, you guessed it, RichmondTweed both recording the equal
Open Homes
HOW'S THE SERENITY! DJ Stringer is listing this ideal duplex at 2/6 Alva Street in Tweed Heads for $695k to $745k
largest decline in unit values over the past year, down 11.4 per cent each. I had figured it was Byron Bay dragging our numbers down again, but a closer look at the figures for our shire show it’s more likely us dragging them down. Sorry about that Chris, hate to see you losing value on your Broken Head shack on account of us.
For the Tweed Shire 1,049 houses were sold in the year ending in May, 2023, down 30.4 per cent from the year to the end of May last year. The median house value in the Tweed was $958,229, down 17.3 per cent from the same period ending May 2022. The average time on the market was 66 days with sellers dropping prices on average 5.9 per cent.
DJ Stringer Property Services 201/8 Churchill St Coolangatta’ Interest over $1.695M 1-2pm
Saturday, August 19
Tate Brownlee Real Estate
Belinda Franks Ray White Rural
199 Tweed Valley Way, South Murwillumbah - 1010.30am 4 Maria Court, Condong - 11-11.30am 26 Prince Street, Murwillumbah - 12-12.30pm 9 Old Convent Road, Uki - 1-2pm
139 Darlington Drive, Banora Point, 9-9:30am 12 Birnam Avenue, Banora Point, 10-10:30am 70 Dry Dock Road, Tweed Heads, 11-11:30am 8/7 Barrett Street, Banora Point, 12-12:30pm
JET Real Estate
1 Tombonda Rd, Murwillumbah 9:00 - 9:30am 36 Tumbulgum Road, Murwillumbah 9:30 -1 0:00am 17 Elvadale Place, Nunderi 9:30 – 10:00am 15 Stafford Street, South Murwillumbah 10:00 – 10:30am 506 Tweed Valley Way, South Murwillumbah 10:30 – 11:00am 6 Elouera Terrace, Bray Park 11:00 – 11:30am 51-53 James Street, Murwillumbah 11:30 – 12:00pm 115 Riveroak Drive, Murwilumbah 12:30 – 1:00pm
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02 6672 2499 jetrealestate.com.au SELLING . BUYING . PROPERTY MANAGEMENT
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A total of 845 units sold in the Tweed Shire in the year to the end of May, a drop of 17.7 per cent from last year. The median value for a unit was $681,609, down 7 per cent from the same period last year. Units sold faster than houses in the shire though, on average, they were on the market for 46 days, down 4.2 per cent from the same period to May, 2022.
THINKING OF SELLING? CALL THE TEAM TODAY Jason Dittmar 0477 711 858 Elizabeth Hickey 0474 908 555 Tania Sheppard 0438 446 578
90228
By Jo Kennett