Real Estate FROM COAST TO COUNTRY
Hot property
Will rate rise dampen growth locally?
THE RESERVE Bank of Australia lifted rates on Tuesday by 25 basis points, to 4.1 per cent to combat inflation which is set to soar because of the war, following a similar rise in February which did little to slow demand in the Tweed Shire. That’s expected to increase the average owner-occupier’s monthly mortgage repayments by approximately $91, based on a $600,000 loan. The market locally has proved resilient due to high demand and limited supply, with some forecasts predicting more, but slower growth in 2026. Before Operation Epic Failure kicked off, property prices in parts of the shire seem to have plateaued, but hadn’t really dropped, whereas in some cities they had. There was a pretty steep price increase last year for
Tweed Heads properties, up from around $1.3 million median to $1.66 million by last September. That’s now settled to around $1.64 million at the end of February. Murwillumbah saw a less steep rise in prices over the past year, but it still went up, and since December has settled at around $943,500. Pottsville property peaked in 2022 at around $1.48 million then dropped to around $1.22 later that year and gradually rose to $1,477,500 in February. Cotality’s Asia Pacific Head of Research, Tim Lawless said this week that the Australian housing market is beginning to show early signs of cooling. “Clearly the market’s starting to slow down a little bit, a few cracks emerging on the back of affordability and serviceability challenges,” he said, adding that the February rate rise had played a key role. You would expect the latest rise
Open Homes All times are DST unless specified.
Saturday, March 21 DJ Stringer
• 169 Tweed Valley Way, South Murwillumbah
9–9:30am • 4/241 Golden Four Dr, Bilinga 9–9:30am QLD Time • 6/311 Golden Four Dr, Bilinga 9–9:30am QLD Time • 1/42-44 Thomson St, Tweed Heads 10– 10:30am • 2046/20 Stuart St, Tweed Heads 10:45– 11:15am • 14 Tyrone Terrace, Banora Point 11–11:30am • 2104/20 Stuart St, Tweed Heads 11:15– 11:45am
to have a similar effect. Markets are factoring in another rise in May, which will mean three rises this year. Will it force some investors out of the market? Only time will tell but that is quite likely as well. There was quite a bit of movement with the Albanese government bringing forward its First Home Buyers 5 per cent deposit scheme to October and launching the Help to Buy shared equity (2 per cent deposit) scheme in December, which saw a rush of investors trying to get in before all the first home buyers. The war in the Middle East will see a big rise in inflation, which may drag on, because one of the biggest causes of inflation is rising fuel prices which have skyrocketed as oil supply from the region slows. That leads to higher consumer prices for goods and services. Pushing up rates to combat
rising inflation comes with its own dangers, as Michelle Bullock and her team know. One landlord who owns 25 properties said, just before the RBA met, that a rate rise would see rents increase and they wouldn’t go down, unlike mortgages. Rising rates pushes up rental and construction costs, which pushes up inflation which pushes up interest rates. As far as blunt instruments go it’s like hitting a nail with a sledgehammer and smashing your fingers in the process. Time will tell how international events play out locally but, sadly, the impact looks likely to be ongoing.
• 2/38 Garrick St, Coolangatta 11:15–11:45am QLD Time • 16/19 Ivory Cres, Tweed Heads 12–12:30pm • 33 Inlet Dr, Tweed Heads West 12–12:30pm • 7/20 Dutton St, Coolangatta 12:15–12:45pm QLD Time
Tate Brownlee Real Estate
OUR HOT Property this week is truly one of a kind: one property, four gorgeous dwellings and impressive income potential, all just a short stroll from the beach at Kingscliff. At the heart of “Sunset” at 7 Surf Street — an address to envy — is a sparkling magnesium pool surrounded by multiple living spaces, with potential income of $2,650 per week. The main residence features three spacious bedrooms with built-in robes and a light-filled openplan living and dining area. The stylish kitchen with stone benchtops includes a servery window opening to a large timber deck, perfect for barbecues and alfresco dining. A beautifully furnished granny flat offers high ceilings, open-plan living, full kitchen, bedroom, bathroom, laundry and a sunny north-facing deck. A self-contained studio includes a kitchenette, bathroom, laundry and courtyard, while a converted three-car garage provides a single garage plus a large multi-purpose room. “Sunset” is for sale with Adrianna Jenkins at Northern River Property Group, with a price guide of $2.2 to $2.35 million.
Raine and Horne Jet
• 7 Peter Street, Murwillumbah 9:30–10:00am • Panorama Estate: 2891 Kyogle Rd, Kunghur 10–2:00pm • 629 Tumbulgum Road, Tygalgah 10:30– 11:00am • 18 Flinders Way, Ocean Shores 12–1:00pm
• 63 Piggabeen Road Tweed Heads West 2:30–3pm
The Agency
• Unit 3/ 22 Garrick Street, Coolangatta, 10.30–11am Qld time
• 6 Ivory Crescent, Tweed Heads, 10.30–11am
LS Properties
• 8 Glenys Street, Tweed Heads South, 9–9:30am First National Murwillumbah • 5 Waugh Street, Chinderah, Auction, 9am• 56 Terranora Road, Banora Point, 9–9:30am • 145 Smiths Creek Road, Uki 10:30am–11:00am 9:30am • 20/14 Lorikeet Dr, Tweed Heads South, • 129 Minnows Road, Fernvale 11:30am– • 57 Cabarita Road, Bogangar, Auction, 11am10–10:30am • 5 Admiralty Pl, Banora Point, 10–10:30am
14 Laura St, Banora Point, 10–10:30am • 59 Banora Boulevard, Banora Point, 11– 11:30am • 17 Ossa Boulevard, Terranora, 12–12:30pm • 22/61 Marana St, Bilambil Heights, 12– 12:30pm • 13 Cobaki Rd, Tweed Heads West, 1–1:30pm
To us it’s More than property, it’s home! Shop 2 /41-45 Murwillumbah Street, Murwillumbah Phone: (02) 6672 2499
12:00pm
11:30am
Schmith Estate Agents
• 5 Brady Place, North Tumbulgum, Auction,
10:00–10:30am • 501/215 Boundary Street Coolangatta 11–11:30am QLD time • 11/28 Coolangatta Road Coolangatta 12:30–1pm QLD time
• 8 Brushbox Court, Bogangar, 10am-10:30am • 102 Farrants Road, Farrants Hill, 10:30am-11am • 8 Candlenut Street, Casuarina, 11am-11:30am • Emerald Mountain View, Tanglewood, Auction,
• 177 Kennedy Drive Tweed Heads West
9:30am-10am
1pm-1.30pm
95247 Raine & Horne JET 10x6col
By Jo Kennett