Tweed Coast Property Market Update 1st Half of 2022

In Q4 2021, Tweed Coast recorded a median house price of, $1,670,000 and a median unit price of $807,000. This represents annual (Q4 2020 – Q4 2021) median price growth of 63.7% for houses and 24.3% for units. Between Q4 2020 – Q4 2021 total sales in both markets slowed, by -11.5% for houses (to 131 sales) and by -18.6% for units (to 92 sales). The Tweed Coast market is undersupplied, as price growth is alongside low stock and less transactions. Owner-occupiers and downsizers are encouraged to transact as they we will achieve premium results, capitalising on their investment.

Average vendor discounts between Q4 2020 and Q4 2021 have tightened to -1.1% for houses and swung to a premium of 0.3% for units. Market conditions in Tweed Coast have now shifted to favour sellers, where buyers are willing to offer closer or above the initial listing price. Now is an ideal time to sell.

In December 2021, house rental yields in Tweed Coast were recorded at 4.3%. In the 12 months to Q4 2021, the median house rental price increased by 17.3% to reach $880 per week, while average days on the market remained at a low 20 days. Overall, this represents a resilient rental market throughout COVID-19.

3 bedroom houses have provided investors with +20.6% rental growth annually, with a median rent of $750 per week.

Also in December 2021, Tweed Coast recorded a vacancy rate of 0.6%, on par with Gold Coast LGA (0.6%) and Tweed Shire (0.6%). Vacancy rates in Tweed Coast remain well below the Real Estate Institute of Australia’s healthy benchmark of 3.0%, even amidst COVID-19 conditions. This confirms there is still a healthy rental demand and investors can be confident of a conducive investment environment in Tweed Coast.