There is no escaping the fact that house prices have shot through the roof and have been pushed to record heights over the last 18 months. But as a Gold Coast and Northern Rivers local did you know one of the top regional suburbs for price growth is on your doorstep?
Terranora has quickly become a real estate hot spot and the houses for sale have become in extremely high demand. House prices in this pocket of regional NSW are rising at a faster rate than in Sydney, as the buyer spill over from Sydney and other in demand areas look to snap up prime real estate.
But why Terranora? What exactly makes this small town one of the fastest growing suburbs for house prices in Australia?
Where is Terranora and what makes it so special?
Located on the border of NSW and QLD, Terranora is ideally positioned between the stunning beaches of the Gold Coast and Tweed Coast and the relaxing nature surrounds of the Hinterland and Tweed Valley.
Ten minutes drive is all it takes to get to either of these idyllic spots. Plus being close to the growing business hub of the Gold Coast, employment opportunities and commute time is something a Terranora resident won’t have to worry about.
Most properties for sale in Terranora are walking distance to the Pavilions Shopping Village with local eateries and an assortment of local shops.
- Four public schools within 5kms
- IGA, Coles, Woolworths all within 5kms
- 14min drive to Southern Gold Coast beaches
- 14min drive to Northern NSW beaches
- 14min drive to Gold Coast Airport
Terranora is right up there in prices, but also in elevation and provides a stunning view of the Gold Coast and Tweed Coast for much of the town’s real estate.
Many houses for sale have either ocean or forest views, and in some cases both if they are located on the ridge.
Not only are the job opportunities of Lismore, Byron Shire, the Gold Coast and even Brisbane accessible from Terranora, but the schooling opportunities are just as rich.
The local private Lindisfarne Anglican Grammar School has massive expansion plans, and is another drawcard for many potential buyers. Some buyers will have their children already enrolled before even looking at houses for sale in Terranora. The school runs from Prep to Year 12 and is highly regarded throughout the community.
Terranora properties for sale tend to offer buyers more room to run around than neighbouring suburbs such as Banora Point, Brunswick Heads and Mullumbimby.
Situated on bigger blocks, some providing acreage parcels, those moving from the big cities or beachside properties appreciate the space Terranora properties offer and have the budget for it.
Talk to the Numbers
In 2021, Terranora saw 51 houses sold with a median sale price of $1.3 million. Australia’s real estate market witnessed an eye-watering amount of growth last year, with data showing the median house price throughout the country rose by 25.2%.
But what was Terranora’s real estate price growth exactly?
Terranora’s median house price surged 66.7%, more than doubling Sydney’s annual growth of 33.1%, just to put in perspective. This makes Terranora real estate the fastest-growing median house price across NSW.
Property prices of surrounding regional NSW towns of Suffolk Park and Lennox Head climbed by more than 60% each, while the closest QLD price surge was Paradise Point on the Gold Coast at 50%.
Even just in the last quarter, regional NSW price rises have picked up momentum as a whole and the strongest quarterly price rise on Domain records happened – with median house prices up 12.5% to $720,000 across all of regional NSW.
This is more than double the growth seen in the previous three months.
Local real estate agents are finding it difficult to appraise a home for sale in Terranora because prices are going up monthly and things are moving very quickly.
Thanks to recent land releases, $1.3 million would buy a smaller block of about 600-square-metres in newer estates in Terranora, however compared to similar blocks on the Gold Coast that can go for $2-$3million, it still provides a great deal to many buyers.
Tate Brownlee Real Estate just sold the following properties;
- 3 Trutes Terrace, Terranora for $1,475,000 in December 2021
- 27 Eliza Fraser Court, Terranora for $1,215,000 in January 2022
- 8 Federation Drive, Terranora for $1,320,000 in March 2022
- 12 Lawlor Place, Terranora for $841,500 in March 2022
- 16 Highland Drive, Terranora for $1,590,000 in March 2022
- 16 Bartle Frere Close, Terranora for $1,400,000 in March 2022
- 9 Rosemount Court, Terranora for $1,600,000 in April 2022
- 28 Parkes Lane, Terranora for $1,520,000 in April 2022
Who is buying these houses for sale in Terranora?
In the 2016 Census, fewer than 3000 people called Terranora home. The tiny town was undervalued, even by locals, who seemed to prefer the neighbouring towns of Banora Point, Kingscliff and Tweed Heads. So who are all these people snapping up the houses for sale in Terranora?
People Escaping the Big City
The town’s newfound stardom and popularity has been driven by Sydneysiders and Melbournites escaping the hustle and bustle of city life and buying their dream property in a small regional NSW town, close to the beach and the Hinterland.
The pandemic also brought the new era of working from home, meaning people can keep their high flying jobs and good income and make the most of them in cheaper areas of Australia.
Particularly young people who are into the outdoor activities that Terranora and the Gold Coast provides, are working from home and living in a more ideal spot for their lifestyle.
Holiday Home Buyers
Since international travel stopped, many people are looking to invest in holiday houses in Australia. Byron Bay’s popularity has also reached a tipping point with many priced-out holiday home buyers expanding their search and discovering Terranora.
The Gold Coast has also seen a huge price increase especially in the Southern suburbs like Burleigh, Currumbin and Coolangatta, meaning crossing the border into the Northern Rivers keeps them local to the popular holiday destinations but without the price tag.
Terranora and Tweed Heads used to be seen as a retirement destination but with house prices surging in all major cities across the country, many first home buyers and young families are seeking out more affordable houses for sale.
Whilst some retirees still reside in Terranora, we are seeing a wave of families coming interstate and from Sydney. Many local buyers are cashing in on their beachfront properties to upgrade in Terranora to provide a better lifestyle for their growing families as well.
What Is Going To Happen Next To The Terranora Real Estate Market?
Ultimately, it is the combination of the beach and forest lifestyle factors the Terranora offers that keeps the current demand for property much higher than the supply available.
House prices in regional areas close to job hubs and regional centres like the Gold Coast and Byron Shire are expected to continue to rise.
This further escalation in price is going to continue being a roadblock for first home buyers and upgraders as wage growth has not matched the property market boom, so suburbs like Terranora that have a lot to offer will continue to rise throughout 2022.
Achieving the best results possible for our surrounding locality is something we take such pride in. We like to be able to help you achieve your property goals, whatever they may be. We are experts in the local area including Terranora and take pride in being a staple in our community.
Let us open the doors to your future and contact our team today.