{"id":30399,"date":"2021-01-31T09:34:13","date_gmt":"2021-01-30T20:34:13","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=30399"},"modified":"2021-01-31T09:34:13","modified_gmt":"2021-01-30T20:34:13","slug":"eye-watering-the-town-where-house-prices-rose-37-per-cent-last-year","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/eye-watering-the-town-where-house-prices-rose-37-per-cent-last-year\/","title":{"rendered":"‘Eye-watering’: The town where house prices rose 37 per cent last year"},"content":{"rendered":"

PHOTO: Byron Bay. SUPPLIED<\/strong><\/p>\n

Byron Bay has taken the crown for the highest house price growth of any suburb in the country\u00a0last year, with house prices soaring by an astonishing 37 per cent.<\/p>\n

In the small coastal town of roughly 10,000 people, the median house price has shot up to $1.68 million, Domain\u2019s latest\u00a0House Price Report<\/em> shows.<\/p>\n

While agents report demand has remained strong into the new year, the latest figures have prompted speculation the local market could be nearing its peak rate of growth.<\/p>\n

\u201cThe change in price in Byron is pretty eye-watering,\u201d Domain senior research analyst Nicola Powell said.<\/p>\n

Dr Powell said there had been progressive hype around Byron Bay before the onset of the pandemic saw an influx of new buyers and investors.<\/p>\n

\u201cThe celebrity pull, the lifestyle pull \u2013 it was almost the place to be seen,\u201d Dr Powell said.<\/p>\n

\"istock-byron-bay\"
Byron Bay has become the place to be seen. Photo: iStock<\/strong><\/em><\/figcaption><\/figure>\n

The rapid growth has prompted a spillover effect in neighbouring towns, with the median house price in the Byron Shire \u2013 which stretches from Broken Head to Mullumbimby \u2013 rising 26 per cent in 2020.<\/p>\n

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