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Buyers line up for lavish coast homes

TOP END: Ben Stephens and Ben Gazal at Eden Ave, Rainbow Bay, say million-dollar-plus homes are selling well in the area.
TOP END: Ben Stephens and Ben Gazal at Eden Ave, Rainbow Bay, say million-dollar-plus homes are selling well in the area.

AT A time when many people are tightening their belts, it's surprising to find the region's most expensive properties are selling well.

There's a trend for people from cities like Melbourne, Brisbane and Sydney, in particular, to buy their seachange home on the Tweed and Gold coasts.

But they are not necessarily moving here holus-bolus.

Rather, they are commuting.

LJ Hooker Kingscliff's Lorna Savage said the airport was a huge drawcard, allowing people to leave on Thursday night and return early on Monday morning to their city jobs.

"The great schools, beaches and new shopping centres springing up in the Tweed area are making it a top place to live," she said.

Casuarina beachfront is experiencing high buyer interest with demand for completed quality homes such as 34 Eclipse Lane, which is currently listed for $1.2 million.

She said it was common for properties valued at over $2 million to sell quickly.

"Casuarina beachfront is experiencing high buyer interest with demand for completed quality homes such as 34 Eclipse Lane, which is currently listed for $1.2 million," Ms Savage said.

"Beachfront blocks of land, too, are in high demand.

IMPRESSIVE: $1.1 million is the price tag on this glorious mansion on an acreage at North Tumbulgum.
IMPRESSIVE: $1.1 million is the price tag on this glorious mansion on an acreage at North Tumbulgum.

 

"With prices being achieved for the beachfront homes into the $1.5m range and $2 million-plus for homes set on more than one block, 34 Eclipse Lane at $1.25 million still offers fantastic value in this market with a shortage of stock."

Wayne Yeo, from Elders Murwillumbah, said it was pleasing to see after such a long time inquiry from potential buyers for homes over $1 million was on the increase.

"At a recent auction for one such property we had over 30 people in attendance," he said.

"I believe decreasing interest rates will further fuel interest in these properties."

He has a property at Tumbulgum on 20ha selling for $1.1 million and another at Burringbar for $1.2 million on 7ha.

Ben Stephens, from Rainbow Bay Realty, said he believed "right now there are some of the best market conditions that we have seen for several years".

"So far this year we have had a notable increase in the amount of $1 million-plus sales and there has also been an increase in demand for top-end properties," he said.

"At present we are experiencing a shortage of residential properties, especially in the beachfront and beachside locations."

His most expensive property on the market was Maili, a penthouse at Eden Ave, Rainbow Bay, selling at $1.98 million.

First National has a property at Elanora Ave, Pottsville for $1.59 million.

Topics:  real estate



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