Suburb Watch: Tallebudgera Valley, Queensland
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Suburb Watch: Tallebudgera Valley, Queensland

Outside Queensland’s Gold Coast — a relaxed, leafy lifestyle.

By Sue Wallace
Tue, Sep 14, 2021 10:12amGrey Clock 5 min

Tallebudgera Valley, tucked away in Queensland’s Gold Coast hinterland may be compact but it has plenty of swagger when it comes to luxury properties and swoon-worthy scenery.

Sprawling mansions with ocean glimpses, trophy homes with knockout valley views and cute farm houses with horse paddocks overlooking emerald-green tree-covered hills and mountain tops can be found.

Nature in all her glory stars here, offering a relaxed lifestyle favoured by wealthy business leaders, investors, families, retirees and farmers. Tumbling waterfalls, ancient rainforest and the sparkling Tallebudgera Creek that flows from the plateau to the sea make it a nature lovers’ haven. Meanwhile, several health retreats and eco resorts sit on ridges overlooking bushland while white sandy beaches are just a 15-minute drive from the valley.

The International Gold Coast Airport is a 15-minute drive, and it is a one-hour drive to the International Brisbane Airport.

Boundaries

A Gold Coast suburb, Tallebudgera Valley is bordered by Tallebudgera to the southeast and is surrounded by the suburbs of Austinville, Bonogin, Burleigh Heads, Currumbin Valley, Dungay, Numinbah, Reedy Creek, Springbrook and Upper Crystal Creek. Burleigh Heads National Park is on the southwestern border.

Price Range

House prices begin at about $1.664 million and hike to $2.1 million on average, according to Eliza Owen, property data company CoreLogic’s head of research.

The median house value for the suburb was $1.477 million as of July, reflecting a rise of 40.9% year over year—higher than the appreciation across the broader Gold Coast. The 12-month growth rate is the highest rate of appreciation in more than a decade. In his current portfolio, John Fischer of PRD Burleigh Heads Real Estate, lists a five-bedroom, two-bathroom house with a pool on 3.61 acres in Tallebudgera Valley for $2.2 million.

Housing Stock

Unlike denser areas of the Gold Coast, Tallebudgera has fewer houses for sale.

Even though stock is relatively high (10.2% compared with a Gold Coast suburb average of 8.5%), there were only 13 listings counted on the market across the area in July, the latest data available, Ms. Owen said. This compares to a Gold Coast suburb average of 37 properties.

Tallebudgera Valley is known for its picturesque lifestyle properties ranging from 5 acres to 20 acres with sprawling five-to-eight-bedroom contemporary-style houses and multi-garages. They often feature large pools and extensive manicured gardens with stunning valley views.

Mr. Fischer said equestrian lovers are well catered for with some properties home to horse paddocks, stables and training areas.

There are also 2-to-4-acre properties with extensive houses and smaller house blocks can be found in the village.

“Some investors are buying properties with older style homes and knocking them down to rebuild modern dwellings,” Mr. Fischer said.

What Makes It Unique

Stunning scenery, plenty of space and a great sense of community, that’s the appeal of Tallebudgera Valley, Mr. Fischer said.

“It’s a beautiful part of the world and there is lots of camping, swimming, picnicking, kayaking, fishing and horse-riding and it is close to the beaches,” he said.

Ms. Owen echoed that sentiment.

“It’s a family-orientated area with bigger house properties where kids can have their horses,” she said.

“At a time when people in lockdown can’t access gyms, parks, bars, community pools and shared workspaces, large properties may inspire people to incorporate these kinds of spaces on their own property.

“For the money you pay in Tallebudgera Valley, I think interstate buyers in large cities, like Sydney and Melbourne in particular, would see the value in such properties, presuming the location was convenient through remote work,” she said.

Pool and terrace view in a Tallebudgera Valley luxury home.
PRD Burleigh Heads

Luxury Amenities

While Tallebudgera Valley has a small village, it is a short drive to great shopping and restaurants and a choice of excellent schools.

Tallebudgera State School, St. Andrews Lutheran College, All Saints, Silkwood, St. Hilda’s Girls School and Southport Boys School cover kindergarten through secondary school.

Pacific Fair Shopping Centre, on the Gold Coast Highway at Broadbeach, has luxury shops including Hermes, Givenchy, Gucci, Chanel and Bvlgari and multi-brand stores Billabong, Polo Ralph Lauren and Gant. Nearby Robina has a David Jones department store and Burleigh Heads’ James Street is known for its quaint boutiques, including Miss Brown Vintage and Maison & Maison.

Golosi Food Emporium on James Street offers artisan food and you can stock up on fresh fruit and vegetables at local farmers markets.

Dining options include the trendy beach-side Rick Shores at Burleigh Heads with waterfront views and wave serenades—the fried bug rolls have a following. Soak up the sunny vibes and watch keen surfers at Burleigh Pavilion and The Tropic with its open kitchen.

Renowned, former Sydney chef Alex Labart creates memorable feasts at the sleek Labart in Burleigh Heads.

Spy on kangaroos grazing nearby as you indulge in organic produce under giant 100-year-old fig trees at Pasture & Co in nearby Currumbin Valley.

Custard Canteen with its pretty red and white striped umbrellas, serves signature Portuguese tarts and other treats, just a few sandy steps from Tallebudgera Creek.

For cocktails, head to Lockwood Bar and Justin Lane Rooftop, while Iku Yakitori and Whiskey Bar serve Japanese-inspired cocktails and whiskeys.

Golf fans have the pick of three golf courses and a driving range in the region, plus world-class golf courses, RACV Royal Pines Resort and the Links Hope Island, a little further afield.

Right in town, the Tallebudgera Village has the Man on the Bike Pizza Cafe, supermarket and several shops.

Who Lives There

Mr. Fischer said business leaders, IT specialists, investors, artists, retirees and families favoured living in the valley. Tallebudgera which means “good fish” is often shortened to Tally Valley by locals.

Notable Residents

Global real estate tycoon Riyu Li has his 10-bedroom, six garage sumptuous mansion dubbed Bellagio La Villa on the market for A$33 million with Amir Prestige Real Estate.

Outlook

It will be hard for this market to sustain the current rate of price growth, but values will continue to rise, Ms. Owen said.

“The region could still see value increases, just not at such a strong rate, driven by ongoing demand against the underlying scarcity of housing in the area,” she said.

“Covid has forced a lot of firms to accept remote work, and this has amplified demand for lifestyle properties in more secluded areas.”

Lifestyle markets that offer large properties have been the highest-performing regions in the past 12 months in terms of capital growth, and house markets have vastly outperformed apartment markets.

“Alongside that, Covid has stimulated housing demand more broadly through low interest rates (a global phenomenon), high levels of savings accumulated during lockdowns, and remote work prompting a lot of people to seek their own home,” she said.

Eliza Owen said persistently low mortgage rates have put most Australian housing markets into a broad-based upswing.

“The enablement of remote work, coupled with many regional populations ‘staying in place’ amid lockdowns in cities, has amplified the usual internal migration trends in Australia,” she said.

Comparing ABS migration data for the March 2020 quarter with March 2021, there has been a 36.8% uplift in departures from Melbourne to regional Queensland.

As Mr. Fischer said, the beautiful Tallebudgera Valley looks set to sizzle for the next couple of years, in all its natural glory.

Reprinted by permission of Mansion Global. Copyright 2021 Dow Jones & Company. Inc. All Rights Reserved Worldwide. Original date of publication: September 11, 2021.



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Hong Kong has taken a bold step to ease a real-estate slump, scrapping a series of property taxes in an effort to turn around a market that is often seen as a proxy for the city’s beleaguered economy.

The government has removed longstanding property taxes that were imposed on nonpermanent residents, those buying a second home, or people reselling a property within two years after buying, Financial Secretary Paul Chan said in his annual budget speech on Wednesday.

The move is an attempt to revive a property market that is still one of the most expensive in the world, but that has been badly shaken by social unrest, the fallout of the government’s strict approach to containing Covid-19 and the slowdown of China’s economy . Hong Kong’s high interest rates, which track U.S. rates due to its currency peg,  have increased the pressure .

The decision to ease the tax burden could encourage more buying from people in mainland China, who have been a driving force in Hong Kong’s property market for years. Chinese tycoons, squeezed by problems at home, have  in some cases become forced sellers  of Hong Kong real estate—dealing major damage to the luxury segment.

Hong Kong’s super luxury homes  have lost more than a quarter of their value  since the middle of 2022.

The additional taxes were introduced in a series of announcements starting in 2010, when the government was focused on cooling down soaring home prices that had made Hong Kong one of the world’s least affordable property markets. They are all in the form of stamp duty, a tax imposed on property sales.

“The relevant measures are no longer necessary amidst the current economic and market conditions,” Chan said.

The tax cuts will lead to more buying and support prices in the coming months, said Eddie Kwok, senior director of valuation and advisory services at CBRE Hong Kong, a property consultant. But in the longer term, the market will remain sensitive to the level of interest rates and developers may still need to lower their prices to attract demand thanks to a stockpile of new homes, he said.

Hong Kong’s authorities had already relaxed rules last year to help revive the market, allowing home buyers to pay less upfront when buying certain properties, and cutting by half the taxes for those buying a second property and for home purchases by foreigners. By the end of 2023, the price index for private homes reached a seven-year low, according to Hong Kong’s Rating and Valuation Department.

The city’s monetary authority relaxed mortgage rules further on Wednesday, allowing potential buyers to borrow more for homes valued at around $4 million.

The shares of Hong Kong’s property developers jumped after the announcement, defying a selloff in the wider market. New World Development , Sun Hung Kai Properties and Henderson Land Development were higher in afternoon trading, clawing back some of their losses from a slide in their stock prices this year.

The city’s budget deficit will widen to about $13 billion in the coming fiscal year, which starts on April 1. That is larger than expected, Chan said. Revenues from land sales and leases, an important source of government income, will fall to about $2.5 billion, about $8.4 billion lower than the original estimate and far lower than the previous year, according to Chan.

The sweeping property measures are part of broader plans by Hong Kong’s government to prop up the city amid competition from Singapore and elsewhere. Stringent pandemic controls and anxieties about Beijing’s political crackdown led to  an exodus of local residents and foreigners  from the Asian financial centre.

But tens of thousands of Chinese nationals have arrived in the past year, the result of Hong Kong  rolling out new visa rules aimed at luring talent in 2022.

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