Tweed Shire Council was sacked over a year ago and the shire has been under an administrator ever since. The previous council was in a truckload of trouble over various shady deals, the least of which was an election that many people thought was on the nose.

There is a lot of interest in this area at the moment and many pundits are recommending it as a 'buy?. Main reason being the completed Tugan bypass slated to open December 2008. It will put Tweed within commuter distance from Brisbane and the Gold Coast. Along with any bypass comes talk of a property increase and this one is going to make a major difference to traffic movement.

The mega developments of Salt and Casuarina were not the cause of the flack. They would have happened anyway and are fairly successfully. Casuarina is now only resales with finished houses around 700 ? 800K. It is mainly owner/occupiers while Salt is going for the investor, holiday rental market. A 525 M2 blocks of land at Salt sells for $470,000 while a beachfront block sells for $3.3 mil. I don't know anyone who would want to buy there. I don't think its good value.

Driving north from Byron you pass through Wooyong, Pottsville, Cabarita, Hastings Point, Kingscliff and Tweed Heads. The most popular, with prices to match, is Kingscliff. Local agents say the amount of interest, mainly from investors, is 'phenomenal?. There is a lot for sale and apparently a lot of sales are being made. Kingscliff has a bit of a buzz happening with café culture and is a popular holiday rental destination.

Old houses with around 550 sq metres a block from the beach are selling for around $550,000. The deal that is on offer there at the moment is to put 3 or 4 units on them, lets stretch it and say 4, and according to the agents, 3 bedroom units will sell for $500,000, but I think more realistically at $450K. At a 250K each to build (also conservative) plus council and holding costs of at least $100K all up costs of $1.65m build with a $1.8m return. I think you would have to be very courageous. The demand needs to be sustainable over a few years as it looks like there are many punters jumping in on those blocks.

If 3 bed units start selling for $500K plus in Kingscliff then that makes Byron Shire undervalued. The only problem with Byron is that there is no turnover and it is only a buy and hold activity. One of the main reasons why Byron remains expensive is because there is no unit or land development to speak of. The coastal drive to Tweed is soon going to be non-stop cladding and tacky and tacky, designer pastel colours. There are two more mega developments in Wooyong and two more green field developments. One is in Moobal behind the pub and another in Dunlo Park on the Moobal/Pottsville road.

What is of interest? Well I do still think there are a few things of interest in Tweed Shire. The demand for cheap houses on a fair size block of land in Murwillumbah/Uki is very strong and I don't think you can go wrong. I think Pottsville has some room to move. There are few properties here with development potential. The prices are lower than further north and I think there is some potential movement. Especially if they do a make over like how Bogangar became Cabarita. Contact me if you want more information

In Cabarita the big new hotel may make a difference to the ambience of the town. The Sea Breeze and Koala Beach developments are close and they may keep the price of older properties in town on hold. There is a disparity between the residential developments of Sea Breeze where sales are very strong while Koala Beach is struggling because which may be because of the no cats and dogs covenant. It seems the sea change generation still love furry little things in their laps more than furry little things in the forest. Sigh!

I write this article while witnessing another major indicator for a turn around in the property market ? the tanking of the share market! I am having first hand experience of wishing I had all my money in bricks and mortar over the vagaries of the share market. A margin call from your broker is a lot more painful than a management agent saying a tenant has vacated or even trashed a property. Property is nice gentle and fairly predictable. Right now I can imagine computer screens all over the country switching off their live data and book marking realestate.com.au.

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