Casuarina recorded the region's top median prices for both houses ($870,000) and units ($435,000).
Casuarina recorded the region's top median prices for both houses ($870,000) and units ($435,000). Andy Dean Photography

Casuarina tops Tweed house market at $870,000

PROSPECTIVE home owners are jumping at the chance to get into the Tweed property market, with agents struggling to meet demand.

It is good news for sellers, with CoreLogic RP Data's latest Market Trends report revealing prices are remaining high and no shortage of buyers sniffing about for a good deal.

Casuarina recorded the region's top median prices for both houses ($870,000) and units ($435,000), with Kingscliff coming in second place for houses ($852,000) and units ($420,000).

Fingal Head made the house price top three with a $787,500 median price, followed by Terranora on $610,000 and Bilambil with $566,750.

The unit price top five was rounded out with Tweed Heads on $400,000, Bogangar at $397,000 and Pottsville on $395,500.

Investors in Tweed Heads had a good 12 months with house prices lifting 18.2%, while Kingscliff houses went up $17.4% in value.

But Casuarina units were in hottest demand, with prices increasing 43.2% over the year to October.

The most disappointing price changes were for Chinderah houses (down 4.6%) and Kingscliff units (down 2.8%).

Tweed Heads South houses were the quickest to be snapped up with an average 43 days on the market, while Banora Point had the fastest unit sales at 42 days.

The slowest properties to sell were Terranora houses with an average 111-day wait on the market.

PRDnationwide Coolangatta and Tweed Coast managing director Joe Taylor said anything with a reasonable price would not be on the market for long.

"Things are still moving well and there is still a shortage of shock, which is keeping the buyers there," he said.

"They still have to be priced properly, not ridiculous - one or two have been coming on that are well above the mark and they are still sitting there.

"But anything priced right is moving very well, especially those under the $550,000 mark."

The most expensive suburbs for renters were Casuarina with an average $750 a week for houses, and Hasting Point units at $460 a week.

SUBURBS TO WATCH

CASUARINA

Size: About 3 sq km.

Predominant age group: 0-14 years.

Households: Primarily couples with children and professionals.

Likely mortgage repayments: $1800-$2400 a month.

Ownership: 52.5% of homes owner-occupied.

KINGSCLIFF

Size: About 9 sq km.

Predominant age group: 0-14 years.

Households: Primarily couples with children and professionals.

Likely mortgage repayments: $1800-$2400 a month.

Ownership: 59.6% of homes owner-occupied.

FINGAL HEAD

Size: About 6 sq km.

Predominant age group: 0-14 years.

Households: Primarily couples with children and professionals.

Likely mortgage repayments: More than $4000 a month.

Ownership: 65.4% of homes owner-occupied.

TWEED HEADS

Size: About 5 sq km.

Predominant age group: 55-64 years.

Households: Primarily childless couples.

Likely mortgage repayments: $1800-$2400 a month.

Ownership: 57.2% of homes owner-occupied.

BOGANGAR

Size: About 7 sq km.

Predominant age group: 0-14 years.

Households: Primarily couples with children.

Likely mortgage repayments: $1800-$2400 a month.

Ownership: 58.6% of homes owner-occupied.

Source: CoreLogic RP Data

ARM NEWSDESK



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