Tweed/Coolangatta area...
- Thread starter Bunyip007
- Start date
It's your first post, so some suggestions for a better chance at getting replies.
- Ask specific questions to what you would like to know about the area
- Actually give some input into what you think the area is like and why you are looking there
- Maybe give the pro's & con's of your current research
Providing these will more likely result in better discussion.
Goodluck
(I'm not familiar with the area, have done 0 research on the area)
otherwise known as Gods waiting room
high population of retirees
Unit market is flat due to over supply
Housing market - there are opportunities to buy "well" but the cap gain prospects are so so according to folks like residex
ta
rolf
high population of retirees
Unit market is flat due to over supply
Housing market - there are opportunities to buy "well" but the cap gain prospects are so so according to folks like residex
ta
rolf
What economic factors do you see would drive the area? I don't think the employment rate is that crash hot (even excluding the high proportion of retirees).
Thanks for this
I'm looking for an IP and had heard this area is unique with a changing demographic - younger market moving in because of the lifestyle.
Welcome
That is a good start for investment drivers. Do you know whether these younger people have employment prospects? (Nimbin is in The Tweed) Check out the different stamp duties and land taxes for NSW and Qld so you know which purchase will cost you more or less in add on $$$. Also check out rates and water charges in the different local councils.
I've researched the area a lot. Here's what I've come up with:
There are some good buys out there at the moment and prices have definitely dropped, however, there is also a LOT of properties up for rent. Rentals at this time of year are normally scarce but there are currently heaps available. Bear in mind that many of the properties that sit vacant don't seem to allow pets and/or aren't fenced, and considering it's an area favoured by tenants who are families with young children, not allowing pets, etc often means an IP will be overlooked in favour of one that does.
You can pick up a 4 bedroom house for not much more than $400 000 (perhaps less) and expect to receive approx $350 to $450 in rent.
A few facts about the area - 'The Tweed' is the general name given to the area in NSW just north of Byron Bay to Tweed Heads and out west to Murwillumbah. Other towns in The Tweed include Pottsville, Kingscliff, Bilambil and Banora Point. Nimbin (mentioned by a previous poster) is closer to Lismore and not a place that any Tweed-ite seems to want to be associated with.
Coolangatta is just over the border on the Qld side. Most of the old houses in Coolangatta have made way for multistory highrise/unit complexes. The Gold Coast airport is 5 minutes away.
Tourism/service seem to be the main industry although there seems to be more opportunity for work for those in the medical/nursing fields though - especially aged care. Also, working fifo 'in the mines' appears popular for those with a trade as I suppose the proximity to the Gold Coast airport makes this very possible. People can also travel to Brisbane to work - it's straight up the highway for 1 to 1.5hrs (commuters in Syd probably sit in traffic for this long each day?).
Lifestyle is probably second to none. Climate is nice. There are major public and private hospitals, a good selection of schools, universities and generally infrastructure is good - obviously another reason why the oldies are attracted to the area in their retirement and why, I believe, the area will increase tremendously in population in the future. It's also a place where a lot of government workers like teachers, nurses, police, firies, ambos, etc come to after they've 'done their time' in Sydney or out west (they usually rent for a while before purchasing).
Hope this helps.
There are some good buys out there at the moment and prices have definitely dropped, however, there is also a LOT of properties up for rent. Rentals at this time of year are normally scarce but there are currently heaps available. Bear in mind that many of the properties that sit vacant don't seem to allow pets and/or aren't fenced, and considering it's an area favoured by tenants who are families with young children, not allowing pets, etc often means an IP will be overlooked in favour of one that does.
You can pick up a 4 bedroom house for not much more than $400 000 (perhaps less) and expect to receive approx $350 to $450 in rent.
A few facts about the area - 'The Tweed' is the general name given to the area in NSW just north of Byron Bay to Tweed Heads and out west to Murwillumbah. Other towns in The Tweed include Pottsville, Kingscliff, Bilambil and Banora Point. Nimbin (mentioned by a previous poster) is closer to Lismore and not a place that any Tweed-ite seems to want to be associated with
. Coolangatta is just over the border on the Qld side. Most of the old houses in Coolangatta have made way for multistory highrise/unit complexes. The Gold Coast airport is 5 minutes away.
Tourism/service seem to be the main industry although there seems to be more opportunity for work for those in the medical/nursing fields though - especially aged care. Also, working fifo 'in the mines' appears popular for those with a trade as I suppose the proximity to the Gold Coast airport makes this very possible. People can also travel to Brisbane to work - it's straight up the highway for 1 to 1.5hrs (commuters in Syd probably sit in traffic for this long each day?).
Lifestyle is probably second to none. Climate is nice. There are major public and private hospitals, a good selection of schools, universities and generally infrastructure is good - obviously another reason why the oldies are attracted to the area in their retirement and why, I believe, the area will increase tremendously in population in the future. It's also a place where a lot of government workers like teachers, nurses, police, firies, ambos, etc come to after they've 'done their time' in Sydney or out west (they usually rent for a while before purchasing).
Hope this helps.
Last edited:
I've researched the area a lot. Here's what I've come up with:
There are some good buys out there at the moment and prices have definitely dropped, however, there is also a LOT of properties up for rent. Rentals at this time of year are normally scarce but there are currently heaps available. Bear in mind that many of the properties that sit vacant don't seem to allow pets and/or aren't fenced, and considering it's an area favoured by tenants who are families with young children, not allowing pets, etc often means an IP will be overlooked in favour of one that does.
You can pick up a 4 bedroom house for not much more than $400 000 (perhaps less) and expect to receive approx $350 to $450 in rent.
A few facts about the area - 'The Tweed' is the general name given to the area in NSW just north of Byron Bay to Tweed Heads and out west to Murwillumbah. Other towns in The Tweed include Pottsville, Kingscliff, Bilambil and Banora Point. Nimbin (mentioned by a previous poster) is closer to Lismore and not a place that any Tweed-ite seems to want to be associated with
Coolangatta is just over the border on the Qld side. Most of the old houses in Coolangatta have made way for multistory highrise/unit complexes. The Gold Coast airport is 5 minutes away.
Tourism/service seem to be the main industry although there seems to be more opportunity for work for those in the medical/nursing fields though - especially aged care. Also, working fifo 'in the mines' appears popular for those with a trade as I suppose the proximity to the Gold Coast airport makes this very possible. People can also travel to Brisbane to work - it's straight up the highway for 1 to 1.5hrs (commuters in Syd probably sit in traffic for this long each day?).
Lifestyle is probably second to none. Climate is nice. There are major public and private hospitals, a good selection of schools, universities and generally infrastructure is good - obviously another reason why the oldies are attracted to the area in their retirement and why, I believe, the area will increase tremendously in population in the future. It's also a place where a lot of government workers like teachers, nurses, police, firies, ambos, etc come to after they've 'done their time' in Sydney or out west (they usually rent for a while before purchasing).
Hope this helps.
Yes thanks very much. It is reassuring as this was what I had figured from afar.No doubt, like with anywhere, there would be micro area's that would bring a higher growth potential then others.
