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Coolangatta Tweed

31 Bay Street Tweed Heads

07 5536 2744

07 5536 2626

sales@coolangattatweed.com.au

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Market Update – November 2016

5 Dec 2016 coolangatta 0 Comment

As we inch another month closer to the end of year, and before the silly season starts in full swing, we thought it is a good time to stop and reflect on the year so far.

What changes have taken place in terms of sales activity, rental prices and finance rates.

In general terms the sales activity in the local market during the last twelve months has not only increased in the number of sales but also the average sale price.  We have witnessed an increase of approximately 8.15% on the average sale price.

An example of some local stats are below:

Growth %

Last year Avg

This Year Avg

Tweed Heads House

9.2

$560,000

$612,000

Tweed Heads Unit

9.5

$365,000

$400,000

Tweed South House

10.2

$381,000

$420,000

Tweed South Unit

3.8

$315,000

$327,000

Banora Point House

7.7

$488,000

$526,000

Banora Point Unit

8.5

$335,000

$364,000

The rental market has seen a tightening of supply over the same period.  Most areas have seen an increase in the weekly rental amounts.

Finance rates have changed from an official rate of 2.5% to 1.5% making repayments lower on the average home loan by around $66 per week.

Looking into the new year we see no signs of slowing down in sales or rental enquiry.  This normally means good sale prices for sellers and better returns for investors.

Early as it may seem, we would like to wish you and your family a Merry Christmas.  We we look forward to working with you in 2017.

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