Suburb Profile Report for Byron Bay NSW (2481)

Byron Bay House: Median price $1,500,000, Annual capital growth 9.74%, Number of sales 100, Weekly median advertised rent $870

Byron Bay Unit: Median price $792,500, Annual capital growth 7.76%, Number of sales 126, Weekly median advertised rent $700

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Byron Bay has had a A very good year for property investment returns compared to the rest of NSW, giving investors a capital gain of 39.53% to date .

When looking at the potential capital gains offered to property investors over the last 3 years, Byron Bay comes in at number 13th in NSW.

Property buyers and investors in Byron Bay 2481 should be seeing an average reduction in asking price of around -10.14% . This means that Byron Bay is holding prices well when compared to other suburbs in NSW.

A $870 per week rent on the median house gives suburb investors a gross yield of circa 3.02%, without taking into account capital value appreciation, which has been averaging out at 9.74%.

Over the last year, property investments in Byron Bay, 2481 have given investors a capital gain of 33.08%. This compares very favourably with the 6.07% for NSW as a whole.

If we look at median property appreciation over just the last three months, Byron Bay has given property investors a paper return of 20.08%. This puts Suburb as 10 on a list of fastest fasting appreciating suburbs in NSW

Sellers are offering property buyers an average discount of -5.14% to buyers in Byron Bay at the moment, which is less than average for the rest of NSW.

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Byron Bay has made quite an ascent from quiet surfer town in the 70s to its current status as a tourist and seachanger mecca, and its property market has reaped the benefits.Full summary

Byron Bay has made quite an ascent from quiet surfer town in the 70s to its current status as a tourist and seachanger mecca, and its property market has reaped the benefits.

The boom started at the beginning of 1987, and Byron Bay’s median went on to almost triple in just over eight years, reaching $158,769 by March 1992 according to Residex figures. After a year-long flat spell, Byron Bay then went on to record an impressive 61 consecutive quarters of growth.

December 2006 to September 2008 saw the median rise by a staggering $199,220, to reach $911,054. Interestingly this coincided with a period of intense population growth, with the Byron LGA’s resident numbers swelling by 803 in two years according to ABS stats. (The figure for the previous two years was just 173.)

The GFC then saw the median drop and stagnate at around the $900,000 mark for a year and a half, before once again hitting a historic high in June 2010 of $915,336. September 2010 did see a quarterly drop of just under $2,000, but it looks like Byron Bay has survived the worst the downturn. 

Raine & Horne Byron Bay principal Sophie Christou, believes that the pairing of a strong interstate demand and a short supply of properties will keep the local market healthy.

“Forty-two per cent of our owners are either interstaters of from overseas,” says Christou. “We’ve got a very green council, so not a lot gets approved and that contributes to capital growth.”

Close
Metrics i HOUSE UNIT
$1,500,000 $792,500
17.42% 20.08%
39.53% 33.08%
9.74% 7.76%
$870 $700
100 126
3.02% 4.59%
83.72 101.63

Source: CoreLogic

DSR Score for property investment : Above average (U), Balanced (H)
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Demographics
Total population 4958
Median household income ($/weekly) 871
Median age of persons 42
Median housing loan repayment ($/monthly) 1733
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 399 8.0
    25-34 years 805 16.2
    35-44 years 672 13.6
    45-54 years 803 16.2
    55-64 years 762 15.4
    Others 1518 30.6
    Age Group
    Census Count Percent(%)
    Not Married 2040 57.7
    Registered Married 1048 29.7
    Defacto Relationship 445 12.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 3519 77.3
    Papua New Guinea 142 3.1
    United Kingdom 313 6.9
    United States of America 65 1.4
    Other 187 4.1
    Others 325 7.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 195 4.6
    Christianity 2071 49.1
    Judaism 33 0.8
    Other Religious Groups 63 1.5
    No Religion 1819 43.2
    Others 33 0.8
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 161 9.4
    $400-$599 223 13.0
    $600-$799 223 13.0
    $800-$999 202 11.8
    $1,000-$1,249 164 9.6
    Others 740 43.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1473 36.9
    Employed, worked part-time 1084 27.2
    Employed, worked full-time 1062 26.6
    Unemployed, looking for work 218 5.5
    Employed, away from work 153 3.8
    Person Characteristics
  • Census Count Percent(%)
    Managers 355 15.4
    Professionals 521 22.7
    Technicians & trades workers 323 14.1
    Community & personal service workers 321 14.0
    Sales 234 10.2
    Others 544 23.7
    Occupation
    Census Count Percent(%)
    Infants/Primary 259 27.9
    Secondary 209 22.5
    Technical or Further Educational Institution 127 13.7
    University or other Tertiary Institutions 217 23.4
    Other type of educational institution 59 6.4
    Others 56 6.0
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2843 67.1
    Semi-detached, row or terrace house, townhouse 1028 24.3
    Flat, unit or apartment 203 4.8
    Caravan, cabin, houseboat 109 2.6
    House or flat attached to a shop, office 52 1.2
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 811 42.9
    Fully owned 635 33.6
    Being purchased 420 22.2
    Other tenure type 25 1.3
    Tenure Type
Census 2011, ABS
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