{"id":36862,"date":"2022-02-06T09:23:46","date_gmt":"2022-02-05T20:23:46","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=36862"},"modified":"2022-02-06T09:23:46","modified_gmt":"2022-02-05T20:23:46","slug":"the-hottest-property-market-youve-never-heard-of","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/the-hottest-property-market-youve-never-heard-of\/","title":{"rendered":"The hottest property market you\u2019ve never heard of"},"content":{"rendered":"

PHOTO: With ocean and bush views, most Terranora properties are set on a hill, marking them out from surrounding suburbs.<\/span><\/em><\/strong><\/p>\n

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Ten minutes. That\u2019s the longest you have to drive anywhere you need to be in the small town of Terranora, which is one of the main drawcards that\u2019s seen this little-known locale become the hottest property market in NSW.<\/p>\n

Just a skip and hop from Tweed Heads, and home to just fewer than 3000 people at the 2016 Census, Terranora\u2019s median house price surged 66.7 per cent to $1.3 million in 2021, on Domain data. That\u2019s more than double Sydney\u2019s annual growth of 33.1 per cent and the fastest-growing median house price across NSW<\/p>\n

Capital city buyers, mainly from Sydney and Melbourne, flocked to the humble Queensland-border town in the past year and pushed up property prices as a result. They were searching out lifestyle, proximity to a range of amenities, and a better bang for their buck.<\/p>\n

\u201cTerranora is just 10 minutes from the ocean and 10 minutes to the Tweed Valley and the hinterland \u2013 it\u2019s 10 minutes from everywhere,\u201d Base Property\u2019s Katarina Molnar said.<\/p>\n<\/div>\n

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Before the pandemic, the postcode was undervalued, even by locals, who preferred the neighbouring towns of Banora Point, Kingscliff and Tweed Heads, Ms Molnar said.<\/p>\n

\u201cTerranora has relatively larger lots compared to Banora Point, and those moving from the big cities appreciate that and have the budget for it.\u201d<\/p>\n

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A four-bedroom property on a 1884-square-metre block is being guided between $1.7 million and $1.8 million.<\/span><\/strong><\/em><\/figcaption><\/figure>\n

The town\u2019s newfound popularity has been in part driven by these out-of-town buyers, becoming another by-product of the work-from-home regional property boom, as more people moved to far-flung locations and took their city incomes with them.<\/p>\n

\u201cOne night, I sold four properties and sold all four under the hammer, not one of [the buyers] ever stepped inside of the property,\u201d Jason Abbott, of PRDnationwide Coolangatta and Tweed, said.<\/p>\n

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