Byron Bay, 2481 ranked 78th in NSW when comparing growth in median property values or capital gain over the last 12 months. Byron Bay is one of 3163 in our list for NSW
Byron Bay,2481 was ranked 296 in Australia by increase in median property value over the quarter.
Property buyers and investors in Byron Bay 2481 should be seeing an average reduction in asking price of around -7.39% . This means that Byron Bay is holding prices well when compared to other suburbs in NSW.
Situated 622.10km from the CBD, Byron Bay is one of Byron localities in the postcode 2481.
Property investors who have had real estate in Byron Bay, 2481 should be pleased with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 15.66%
Taking the average capital gain, or increase in median house value, Byron Bay,2481 has racked up an average of 15.66% over the period. This ranks it number 249th in the whole country for real estate investors looking at median house price increases.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Byron Bay, 2481. Typically our figures indicate that -5.79% is being offered, which puts this NSW suburb at 502th most discounted overall in Australia.
Situated 525.95km from the CBD, Byron Bay is one of Byron localities in the postcode 2481.
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
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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.
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.”