Byron Tops Coastal Prices

A recent Domain article highlighted that Byron Bay had the highest price rise of any coastal region. Half a dozen coastal hotspots in regional NSW now have a median house price north of $1 million. Some, including Byron, have overtaken Sydney prices.

The article goes on to state that the booming property market has priced out locals and, in some cases, forced them to move hours away, an effect experts say will be felt for generations to come.

The report can also be viewed with this later article predicting that Byron prices will now be cooling.

Also, on the same topic of Byron’s runaway prices. I found this image interesting from BA colleagues at Propertology. It shows the average annual price increase of all the regions around the country for the last 20 years. Byron Shire is the only one that has scored over the 10%. Tasmania was next with scores in the 9%. Sydney is an also-ran at 7%.