Cheap prices lure investors south of the border
GOLD Coasters are being lured to buy property on the Tweed because of the expensive lifestyle north of the border, a local agent believes.
Andrew Ladd, of Salt Village Real Estate, yesterday said news that the Gold Coast was the third most expensive international city to live in when compared to other metropolitan areas in the United States, United Kingdom, Canada, Ireland and New Zealand, was driving property investors south of the border.
“Non beachfront home sites at Salt Village are currently selling for around $800-$1000 per square-metre - compared to areas such as Mermaid Beach, Nobbies Beach and Miami, where prices are around $3300 to $4000 per sqm,” Mr Ladd said.
“As a result, an increasing number of inquiries at Salt Village are coming from south-east Queenslanders.
“I often find those that are hesitant to move into the Tweed market mistake the relative affordability of property on the Tweed as a sign that the market is 'weak' or that there is not enough demand. This is simply not true.”
Mr Ladd said a report on property values showed that Kingscliff values had grown by 13.6 per cent in the last decade and the town was expected to be one of few areas of NSW to experience capital growth in 2009.
“Salt Village alone has posted a doubling in values for beachside land allotments between 2005 and 2008, and despite an uncertain economic climate, there have been several price per square metre records set here over the past few months,” he said.