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Northern NSW shapes up for growth challenges - Metropolis
The real estate market in Murwillumbah is showing strong signs of future capital growth.Century 21 Northern Rivers principal Kevin Butler said the opening of the Tugun bypass made Murwillumbah a commutable option for those working on the Gold Coast.
“Property in the town remains competitively priced compared to neighbouring areas, despite a surge in local property values in 2007,” he said.
“With property on the Tweed Coast considerably more expensive and prices in Tweed and Banora Point still well above the levels achieved for comparable properties in Murwillumbah, many investors and first home buyers continue to look towards Murwillumbah as a potential real estate hot spot.”
Mr Butler said the future looked bright for Murwillumbah’s property sector, with the launch of Gold Coast developer Peter Mitchell’s $350 million industrial park, Industry Central, set to inject hundreds of jobs into the local economy.
“With new businesses being lured to the area, creating increased employment and therefore a growth in the town’s population, the 50ha industrial estate will further enforce Murwillumbah’s standing as the commercial hub of the Tweed Coast,” he said.
“The growth in population places a demand on residential housing and Murwillumbah has responded Metricon and Stockland both starting civil works for their respective land releases in the area.
“All of these factors, combined with the area’s natural beauty, are strong indicators of why so many people in the Tweed region, on the Gold Coast, from interstate and overseas, are looking to make the green change and call Murwillumbah home.”
