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Coolangatta Tweed

31 Bay Street Tweed Heads

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Market Update – June 2014

30 May 2014 coolangatta 0 Comment

Our market, in the Tweed Heads / Coolangatta area has been quite strong with interest shown in all segments of the market.  Of particular note is the return of interest in development sites—which had been quiet for some time.

In his 6 May blog, Michael Matuzik discusses the idea of why sales volumes mean much more than price.  Following is an excerpt of the blog but if you wish to read the complete article go to:  matusikmissive.com.au.

“Some observations:

Investors should always ask five questions before buying:

1. How many sales take place each year within a ten minute commute?

2. How many sales are priced within $50,000 of the asking price?

3. Are sales increasing or falling?

4. Who is currently buying property in the area?  Especially how many are investors & where do they originate from?

5. How many similar properties in the area to the one under consideration are bought by owner-residents on resale?

The reasons why such questions are important:

For most property owners – including investors – it isn’t about price, it’s about whether or not there is a buyer at resale & if there is, how long it will take to sell at your asking price point.

It’s a pity there isn’t more conversation about sales volumes in the media & on property-related blogs.  Think sales, not price.”

Source:  Matuzik Missive

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