Tweed Heads Property Market Update 2nd Half of 2021

In Q2 2021, Tweed Heads recorded a median house price of $882,000, and a median unit price of $557,000. This represents annual (Q2 2020 – Q2 2021) median price growth of 37.9% for houses and 18.5% for units. Between Q2 2020 – Q2 2021 total sales in both markets have increased, by 19.1% for houses (to 399 sales) and by 89.4% for units (to 339 sales). This is a clear indication of increased consumer confidence, with real returns on investment as price growth is accompanied by higher transaction volumes. Now is an opportune time for vendors to transact and achieve extraordinary results.

Average vendor discounts between Q2 2020 and Q2 2021 have swung to a premium of 0.1% for houses and tightened to -0.2% for units. The Tweed Heads house market has shifted to favour vendors, where buyers must offer above the initial listing price. Now is the time for vendors to capitalise on their investments.

In June 2021, house rental yields in Tweed Heads were recorded at a high 4.3%. In the 12 months to Q2 2021, the median house rental price increased by 25.5% to reach $690 per week, while average days on the market declined by -14.8% (to 23 days). These figures indicate a surge in investment returns, inviting astute investors to enter the market.

3 bedroom houses have provided investors with +20.4% rental growth annually, with a median rent of $650 per week.

Also in June 2021, Tweed Heads recorded a vacancy rate of 0.4%, below that of Tweed Shire LGA (0.8%) and Gold Coast Main (0.7%). Vacancy rates in Tweed Heads have recorded historical lows in the past 3 months and 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 rental demand and investors can be confident of a conducive investment environment in Tweed Heads.