As part of the Tweed Shire and the next suburb along from Tweed Heads, Bilambil Heights is a hidden gem that ticks all the boxes with location views, and spacious lots. Whether Scenic Ridge is a stepping stone in your life, or it is your ‘forever’ home, our estate is well placed to ensure that the value your home increases in the future.
Scenic Ridge: Land for sale at Bilambil Heights well placed for future growth
Future new housing demand
Through our commissioned independent research for Tweed Shire, the NSW Government’s North Coast Regional Plan 2036 of 2017 indicated the projected population would require a minimum of 11,600 additional dwellings by 2036. This reflects an average demand for 580 new dwellings per annum. Over the 20 years to 2036, it is expected the Tweed/Gold Coast region’s population will increase by an average of 15,720 residents, or 1.9% per annum.
In addition to its resident population of around 690,000 people, the Tweed/ Gold Coast region attracts an estimated 14 million visitors. It is Australia’s leading tourist destination outside the capital cities. Over the next 20 years, the regions population is expected to reach almost one million residents (up by an average of 15,720 residents per annum).
The 4.2 million domestic overnight visitors to the Tweed/Gold Coast spent 15.5 million visitor nights and $3.4 billion in 2017/18. For the Gold Coast, the main source markets were Brisbane (22%), Sydney (19%) and Melbourne and Regional Queensland (each 16%).
Over the year to November 2018, there were 25,100 additional residents employed in the Richmond-Tweed/Gold Coast region (31% in Richmond-Tweed). The Gold Coast’s unemployment rate was 4.3%. This has been assisted by job creation in various major infrastructure and residential projects. Government planning studies envisage an average demand for some 7,000 additional dwellings per annum in the Tweed/Gold Coast region over the next 20 years. Building approval data indicates there has been a shortfall in supply, averaging almost 1,000 dwellings per annum since 2013. This puts steady upward pressure on land and housing process.
New homes in Bilambil Heights and surrounding area
The annual rate of increase of 8.9% was higher in Tweed Shire that in Gold Coast City (up by 3.8%). Both areas also experienced solid price growth over the five years to September 2018 (up by 8.0% per annum in Tweed Shire and 5.8% per annum in Gold Coast City).
New home building approvals
The average number of new approvals for the Tweed/ Gold Coast region of almost 6,000 dwellings was about 15% below the requirement for almost 7,000 new dwellings per annum, identified by the planning authorities (refer also to Sections 2.5 and 2.7). there were two years when the requirement was exceeded, 2015/2016 and 2016/17.
Over the six years to 2017/18, the total number of residential building approvals in Tweed Shire averaged 480 new dwellings per annum (of which 73% were houses). The total was 17% below the average dwelling demand indicated by the North Coast Regional Plan 2036.
Bilambil Heights and the Tweed Shire real estate market overview
The Tweed Shire median land price of $380,000 increased by 7.1% per annum from 2013.
Within the wider market context of a growing population, creating demand for new land and housing, Scenic Ridge is in close proximity to the main urban amenities at Tweed Heads and Tweed Heads South.
The two major shopping centres, Tweed Mall and Tweed City, are within a ten kilometre radius of the. Similarly, the highly regarded Kirra and Coolangatta beaches in the world surfing reserve, are around nine to ten kilometres to the north-east, or a ten to 15 minute drive away.
Major projects within Gold Coast and Tweed Shire
Among the major projects, underway or proposed, under-pinning the strength of the Richmond-Tweed/Gold Coast economy are the following:
- The $4.9 billion Woolgoolga to Ballina, 155-kilometre section of the Pacific Highway upgrade, employing over 3,000 workers, due for completion in 2020;
- The $534 million new Tweed Valley Hospital, proposed for Cudgen Road, Kingscliff, for possible completion in 2022;
- Raising the Clarrie Hall Dam wall to augment Tweed Shire’s water supply, with the need to increase its capacity by 2026;
- The $370 million upgrading of Gold Coast Airport, with the Rydges Hotel due for completion in 2020, and plans for the terminal to be expanded;
- The $197.5 million upgrading of the Pacific Motorway between Mudgeeraba and Varsity Lakes, under construction for completion in 2020;
- The $1 billion upgrading of the Pacific Motorway between Varsity Lakes and Tugun, currently in the planning phase, for possible commencement in 2020;
- The $660 million Stage 3a extension of the Light Rail, from Broadbeach South to Burleigh Heads – it may commence construction in late 2019;
- The $1 billion Gold Coast Health and Knowledge Precinct at Southport, expected to create some 12,500 jobs over the next decade or so; and
- Some $6 billion of other residential high rise and mixed-use projects, including the Jewel, the Ruby Collection and Ocean at Surfers Paradise, The Star Residences and Hotel at Broadbeach, Queen Street Village at Southport and Sunland’s projects at Mermaid Beach, Labrador and Merrimac, as well as numerous smaller projects.
With the election season over and the property world set to remain on its current equilibrium now could be the best time to take advantage of a market that has been suppressed by the manufactured fear uncertainty & doubt. During this time Bilambil Heights has continued its upward trajectory seeing an increase in the Median property price. If you know anyone looking for a special place to build their next home and mention Scenic Ridge, they could be very thankful in the future!
For more information for current prices and availability, call Dylan Hart on 1300 808 646.