Tweed Coast's cheapest and dearest houses
THE Tweed Daily News yesterday embarked on an extensive house hunt in an attempt to find both the cheapest and most expensive properties currently listed for sale on the Tweed Coast.
We confined our search to three-bedroom, free-standing homes east of the Pacific Motorway, using information supplied by local agents and property websites.
Surprisingly, the most expensive property of its type was not found among the upmarket estates at Salt and Casuarina, but at Pottsville, on the coast's southern end.
The cheapest property located was at Tanglewood, a bushland community only minutes from the surf beaches at Cabarita and the motorway to the west.
The Pottsville house is on the market for $3.5 million, while the Tanglewood property is listed at $369,950.
Both are A-framed homes only about 15km apart, but agents say the dramatic price difference is down to three things - location, location, location.
Ray White Broadbeach agent Jade Grech said the Pottsville home was located in Elanora Avenue on a large absolute beachfront block.
He said few houses in the street ever went on the market, but when they did they always generated a lot of interest.
"I think the price is quite reasonable when you consider that beachfront houses in Hedges Avenue are selling for around $7.5 million," he said.
"It has good views and direct access to both the spectacular unspoilt beaches and family-friendly estuary. "It is a short stroll to cafes, shops and key amenities in the village."
While the award-winning, architect-designed house is listed as two-bedrooms, it also has a loft that could be used for a third bedroom.
At the other end of the scale, the A-frame chalet-style three-bedroom house at Tanglewood is 20 years old, but Professionals Kingscliff agent Gavin Barclay says it has been partially renovated and is in good condition.
"It's in a good location being just four minutes from Cabarita Beach and about the same distance to the motorway.
"It has one bathroom, a lounge-dining area and a new kitchen and a European-style laundry.
"It is pretty rare to see three-bedroom houses on the market for less than $400,000, and this one has generated a lot of interest."
Northern Rivers Real Estate chairman Carl Petersen says he is not surprised that Elanora Avenue has emerged as one of the real estate hot spots, along with parts of Casuarina and Salt, because of their proximity to the beach.
He said prices across the Tweed had recently plateaued and in many cases the expectations of vendors have not been realised.
Prices were being discounted by five to seven per cent during the past seven months as buyers became more choosey.
"There are probably more properties on the market now than I've seen since about 2003," he said.
He said the high-end of the market was still selling, but properties in the middle level and to a lesser extent the lower end were not moving as quickly.
He said there was no doubt that the change in market conditions was a direct result of recent mortgage rate increases.
People wanting cheaper properties should be looking at units, townhouses and duplexes away from the Coast.