Tweed Coast Property Market Update 2nd Half of 2021

In Q2 2021, Tweed Coast recorded a median house price of $1,380,000, and a median unit price of $675,000. This represents annual (Q2 2020 – Q2 2021) median price growth of 38.0% for houses and 5.9% for units. Between Q2 2020 – Q2 2021 total sales in both markets have increased, by 21.6% for houses (to 90 sales) and by 160.5% for units (to 112 sales). This is a clear indication of increased consumer confidence, with real returns on investment as price growth is accompanied by higher transaction volumes. This suggests an ideal time for vendors to capitalise and achieve extraordinary results.

Average vendor discounts between Q2 2020 and Q2 2021 have swung to a premium of 1.4% for houses and tightened to -0.4% for units. The Tweed Coast house market has shifted to favour vendors, where buyers must offer closer or above the initial listing price. Unit buyers can still benefit from a slight discount.

In June 2021, house rental yields in Tweed Coast were recorded at a high 6.0%. In the 12 months to Q2 2021, the median house rental price increased by 22.3% to reach $795 per week, while average days on the market declined by -13.8% (to 25 days). These figures indicate a surge in investment returns, inviting astute investors to enter the market.

3 bedroom houses have provided investors with +21.0% rental growth annually, with a median rent of $750 per week.

Also in June 2021, Tweed Coast recorded a vacancy rate of 1.6%, slightly above Tweed Shire LGA (0.8%), but well below Sydney Metro (2.8%). Vacancy rates in Tweed Coast have slightly increased, however they remain well below the Real Estate Institute of Australia’s healthy benchmark of 3.0%, as the economy recovers from COVID-19. There is a sustainable healthy rental demand and investors can be confident of a conducive investment environment in Tweed Coast.