Tweed property set to boom

Hot property: Chris Holt, of McGrath Estate Agents Coolangatta/Tweed.

Blainey Woodham

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A HIGH supply of homes for sale and an expected market lift in 2011 is making for strong property investment conditions, according to industry insiders.

A quarterly review by McGrath Estate Agents revealed that metropolitan house prices were likely to increase first, but regional markets would follow in 2011.

This could mean that buyers who enter regional markets now could reap capital gains within months.

McGrath Estate Agents Coolangatta/Tweed director Chris Holt said the Tweed market would become more active.

“We've started to see an upsurge of interest in investment properties in the area, so as we approach spring and the summer months many vendors will no doubt list their properties,” Mr Holt said.

“We have a lot of out-of-town buyers currently showing interest in the area.”

First National Real Estate Kingscliff sales manager Larry Collier said property purchases had been slow in the Tweed region but sales were expected to pick up in the coming months.

“Sales on the Tweed Coast have been unusually slow for the past six months and we are hoping to see a pick-up in buyer enquiry,” Mr Collier said.

“After a relatively disappointing sales year in 2010, the affordability of the Tweed Coast compared with the Gold Coast and Byron Bay should see the region lead any recovery on coastal or beachfront markets. This is conditional on a general economic recovery, interest rate movements and growing confidence of investors.”

Michael Smith, the principal of Ray White Tweed Heads, agreed that buying a home would allow residents to reap rewards in the future.

“Spring is a great time for selling property, as buyer confidence returns. Our sales should show steady increases. Should interest rates remain on hold we should see a stronger buyer interest in the property market for 2011,” Mr Smith said.

North Estate Agents sales manager Lance Cotterill said Tweed housing prices were very affordable.

“The market will become stronger, but at the moment prices are the lowest they have been in a long time, but the market place will pick up,” Mr Cotterill said.

“Now is the best time to buy.”