Coorabell houses had a whopping median sale price of $1.4 million.
Coorabell houses had a whopping median sale price of $1.4 million. Andy Dean Photography

Agents desperate for stock as homebuyers circle region

HOPES of an influx of Northern Rivers properties hitting the market over the summer and spring period proved futile this year, with owners holding onto their homes despite high prices.

CoreLogic RP Data's latest Market Trends report shows that has translated to strong returns for those who did opt to sell.

Coorabell was home to the priciest houses in the Lismore, Ballina, Byron, Kyogle and Richmond Valley with a median sale price of $1.4 million.

Ewingsdale ($1.17 million), Byron Bay ($1 million), Myocum ($952,000) and Federal ($950,000) - all falling within the Byron local government area - rounded out the top five.

For the Ballina region, Tintenbar was the most expensive suburb for houses with a $920,000 median sale price.

Richmond Hill topped the Lismore region with $645,000 and Evans Head's $498,750 price tag was the highest for Richmond Valley, while Kyogle commanded just $250,000 for its median house price.

The median unit price in Suffolk Park hit $630,000, followed by Byron Bay on $620,000, Lennox Head at $595,000, Brunswick Head with $537,500 and Ocean Shores' $458,400.

Sellers in Richmond Valley suburb Broadwater had a big payday, with house prices jumping 37.2% over the year to October.

East Lismore unit prices lifted 27.4% over the same period.

It was a sadder story for houses in Kyogle suburb Geneva, which dropped 18.9% in value, and units in Casino, whose prices tags decreased 23.2%.

Wal Murray and Co First National residential sales consultant Gary Wells said just about anything going on the market was being quickly snapped up.

"Things are very busy at the moment," he said.

"There's not enough stock and there's a lot of buyers looking at a very limited supply.

"For those of us who have been around for 20 years or more, these are the lowest stock levels we have seen, and there is a good number of buyers.

"Believe it or not, it is across the board.

"Even those in the higher range are getting very good interest."

Continuing the theme of last year, Mr Wells said he still had his fingers crossed for more properties to come up for sale.

"We are hoping for more stock, but we were hoping for that at the start of spring-summer when we normally get a lot more," he said.

"But it didn't happen.

"It is just simply hope with nothing there to back it up."

Lismore houses were on the market for an average of just 29 days before being bought, while Suffolk Park were changing hands after 31 days of listing.

Ewingsdale houses were a tougher sell, remaining up for grabs for an average 170 days before finding new owners, while Casino units stayed on the market for a whopping 212 days on average.

New Brighton had the Northern Rivers' most expensive median rent for houses at $850, with Byron Bay $600-a-week price making it the dearest for units.

SUBURBS TO WATCH

COORABELL

Size: About 21 sq km.

Predominant age group: 45-64 years.

Households: Primarily couples with children and professionals.

Likely mortgage repayments: More than $4000 a month.

Ownership: 63% of homes owner-occupied.

EWINGSDALE

Size: About 18 sq km.

Predominant age group: 0-14 years.

Households: Primarily couples with children.

Likely mortgage repayments: More than $4000 a month.

Ownership: 71.9% of homes owner-occupied.

BYRON BAY

Size: About 20 sq km.

Predominant age group: 25-34 years.

Households: Primarily couples with children and professionals.

Likely mortgage repayments: $1800-$2400 a month.

Ownership: 54.3% of homes owner-occupied.

TINTENBAR

Size: About 20 sq km.

Predominant age group: 0-14 years.

Households: Primarily couples with children and professionals.

Likely mortgage repayments: $3000-$4000 a month.

Ownership: 81.3% of homes owner-occupied.

RICHMOND HILL

Size: About 6 sq km.

Predominant age group: 55-64 years.

Households: Primarily couples with children and professionals.

Likely mortgage repayments: $1000-$1400 a month.

Ownership: 93.4% of homes owner-occupied.

Source: CoreLogic RP Data

ARM NEWSDESK



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