{"id":30990,"date":"2021-02-28T11:46:16","date_gmt":"2021-02-27T22:46:16","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=30990"},"modified":"2021-02-28T11:46:16","modified_gmt":"2021-02-27T22:46:16","slug":"the-human-cost-of-byron-bays-soaring-property-prices","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/the-human-cost-of-byron-bays-soaring-property-prices\/","title":{"rendered":"The human cost of Byron Bay’s soaring property prices"},"content":{"rendered":"

PHOTO: Pip Hood, pictured with children Minabellah, 9, Meeks, 2, and Miles, 5, hopes to find a home in Coffs Harbour. Photo: Danielle Smith<\/strong><\/p>\n

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\u201cThere are no options,\u201d says Pip Hood about coming to terms with holding a losing hand in the game of Byron Bay\u2019s rapidly escalating property boom.<\/p>\n

After receiving notice just before Christmas that her rented home of 10 years is to be sold, the 31-year-old has given up hope of finding anything in the wider region.<\/p>\n

\u201cI\u2019d be looking at $700 a week or more for anything like this,\u201d Ms Hood says, as she looks around her\u00a0well-maintained, but basic, three-bedroom house for which she pays $450 a week to live in with her three children, aged 9, 5 and 2.<\/p>\n

Figures and insights from local agents back up her conclusion. While media attention has focused on wildly escalating property prices\u00a0\u2014 with Domain data showing median house prices in Byron Bay rose\u00a037 per cent in 2020 alone\u00a0<\/span><\/a>\u2014\u00a0<\/span>the plight of renters is less in the public eye.<\/p>\n

Ms Hood lives in the seemingly more affordable north Byron Shire town of Ocean Shores\u00a0\u2014 the median asking rent is $590 a week compared with Byron Bay town\u2019s $750 a week\u00a0\u2014 but\u00a0the story on-the-ground is\u00a0grimmer.<\/p>\n

Local real estate agent Peter Browning, of\u00a0LJ Hooker Brunswick Heads, told\u00a0Domain<\/span>\u00a0it\u2019s not uncommon for applicants to offer hundreds of dollars above the quoted weekly rental, which means data based on the \u201casking price\u201d does not always reflect reality.<\/p>\n

Mr Browning also noted that he could receive hundreds of enquiries for a single rental vacancy.<\/p>\n<\/div>\n

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