PHOTO: This town is now the go-to holiday destinations for Sydneysiders
If you’re kicking yourself for not buying in Byron Bay 10 years ago, then this coastal town on the NSW North Coast could be the next big thing.
An analysis of property data by Australia’s largest real estate agency, Ray White, has revealed Yamba is forecasted to record similar price growth to Byron Bay.
Byron Bay has been popular for tourists and house hunters during the pandemic, with dwelling values up 70 per cent over the past 12 months and the median is now more than $2.5 million
Ray White chief economist Nerida Conisbee said it was now cheaper to buy in some of Sydney’s beachside suburbs, even though Byron Bay is not within commuting distance from any major CBD or large employment centre.
“There is a lot to like about Byron Bay but many features certainly aren’t unique,” Ms Conisbee said.
“It has never been a particularly cheap town to buy in but what is unique is how quickly it has grown to global prominence and how quickly prices have risen as a result.”
Ms Conisbee said Yamba was tipped to be the next Byron Bay because it had low home values, had enjoyed price growth of over 20 per cent, strong rental demand and solid long term growth
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