Paradise runs into millions
IF the Wooli and Minnie Water real estate market is anything to go by, the impacts of the global economic crisis are over and prices are on the way up.
But that’s not to say there’s no bargains to be had.
Yuraygir Coast Real Estate principal Rod Ford said in recent months the number of buyers interested in property along the Clarence Coast had increased and prices were starting to build.
“In the last three months we cannot keep up,” he said.
Beachfront homes at Wooli and Minnie Water are starting to sell, with many going for close to a million dollars.
But there has been one affordable beachfront bargain, snapped up at auction by a Queensland family late last year. A run-down beachfront cottage without sea views sold for $445,000.
At the other end of the scale, Yuraygir Coast Real Estate has just listed the largest beachfront block on Main Street – with views.
Mr Ford said the four-bedroom renovated home stretched across 15 metres of beachfront overlooking the Pacific Ocean and was set to attract a lot of attention.
Sales have also been moving at Minnie Water, where Mr Ford said eight homes sold last year – four in the million dollar range.
“None of the homes that sold for over seven figures even made it to the market,” he said.
The buyers purchasing property at Wooli and Minnie Water were predominantly from around the Tweed border region and Queensland.
Mr Ford said many of them were buying into the market as 50/50 residents, choosing to spend half of their time working from their new homes in the quiet coastal towns and the remainder in their city homes up north.