{"id":35633,"date":"2021-11-18T08:37:38","date_gmt":"2021-11-17T19:37:38","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=35633"},"modified":"2021-11-18T08:37:38","modified_gmt":"2021-11-17T19:37:38","slug":"byron-bay-why-this-famous-coastal-hotspot-continues-to-draw-in-new-residents","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/byron-bay-why-this-famous-coastal-hotspot-continues-to-draw-in-new-residents\/","title":{"rendered":"Byron Bay: Why this famous coastal hotspot continues to draw in new residents"},"content":{"rendered":"

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

Byron Bay<\/a> \u2026 beautiful one day, far beyond many people\u2019s pockets the next.<\/p>\n

Yet just why has the northern NSW holiday spot been in the grip of such a rapid upward house price spiral since the start of COVID-19?<\/p>\n

Could it be because it\u2019s simply a stunning area with gorgeous beaches and lush national parks? Or that it offers such a pleasant escape from the hardships of city lockdowns for out-of-towners and locals alike? Or the fact that land is limited so supply isn\u2019t enough to meet the demand of the flight to the regions?<\/p>\n

\"Byron<\/a><\/div>\n
\n
\n

Inside Byron Bay\u2019s most exclusive homes driving up the region\u2019s property prices<\/a><\/h2>\n<\/header>\n<\/div>\n

Or maybe it\u2019s something to do with the high-voltage star power of resident Chris Hemsworth and frequent friends Nicole Kidman, Matt Damon and Zac Efron.<\/p>\n

\u201cI think it\u2019s all of those things, plus the nature of the community here itself,\u201d says\u00a0Helen Huntly-Barratt of First National Byron.<\/p>\n

\u201cThere\u2019s a real tolerance of everyone, whether you\u2019re a Liberal, a hippy, a greenie, gay or straight. Everyone feels very comfortable in this environment.<\/p>\n

\u201cAnd you talk to people here and they might be worth $500 or $500,000 and you wouldn\u2019t know the difference. It doesn\u2019t matter.\u201d<\/p>\n

Whatever the reason for the pulling power, the strength of that allure isn\u2019t in doubt.<\/p>\n

In May this year, the unprecedented demand for homes in the northern rivers area pushed the Byron median house price up to smash the landmark $1 million barrier, and then further to eclipse even the price of homes in the state\u2019s traditionally most expensive city, Sydney.<\/p>\n

\"Byron<\/a><\/div>\n
\n
\n

Inside the dark side of the uber-trendy Byron Bay boom | WATCH<\/a><\/h2>\n<\/header>\n<\/div>\n

Now Byron\u2019s median house price sits at an astonishing $1.55 million, up a thumping 34.8 per cent over the past year, and having more than doubled over the past five.<\/p>\n

That\u2019s nearly $51,000 more than Sydney\u2019s median of $1,499,126, and over $512,000 more than Melbourne\u2019s, on figures from the latest\u00a0Domain House Price Report.<\/em><\/p>\n

\u201cThere\u2019s been continued price growth from the early 1980s but that was mostly from Sydneysiders and backpackers,\u201d says\u00a0Liam Annesley of the Byron Bay Real Estate\u00a0Agency.<\/p>\n

\u201cThen Paul Hogan, John Cornell, Delvene Delaney and Olivia Newton-John put it on the map and brought the Packers here, who, in turn, brought their friends.<\/p>\n

\"Elyse<\/a><\/div>\n
\n
\n

Elyse Knowles buys $2.3million Byron Bay beach house<\/a><\/h2>\n<\/header>\n<\/div>\n

READ MORE VIA DOMAIN<\/p>\n

https:\/\/www.instagram.com\/p\/CV3mLuaB-Qm\/?utm_source=ig_web_copy_link<\/p>\n

MOST POPULAR<\/span><\/h3>\n