{"id":37214,"date":"2022-03-04T10:11:37","date_gmt":"2022-03-03T21:11:37","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=37214"},"modified":"2022-03-04T10:11:37","modified_gmt":"2022-03-03T21:11:37","slug":"surprise-aussie-town-beating-out-worlds-luxury-markets","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/surprise-aussie-town-beating-out-worlds-luxury-markets\/","title":{"rendered":"Surprise Aussie town beating out world\u2019s luxury markets"},"content":{"rendered":"

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

\n

Byron Bay<\/a>\u2019s prestige property market is slated to grow more than any other area in the world in the next five years.<\/p>\n<\/div>\n

The NSW seaside town\u2019s luxury dwellings will boom by as much as 35 per cent in the next half-decade, outstripping the rest of the globe, according to a report by property consultancy firm Knight Frank released on Tuesday.<\/p>\n

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

TV star\u2019s new $5m pad on Byron Bay\u2019s \u2018celebrity street\u2019<\/a><\/h2>\n<\/header>\n<\/div>\n

In the 2022 Wealth Report, Byron Bay was singled out as the most attractive place for luxury buyers in the Australasia region.<\/p>\n

The other 11 places on the list, including central London, the Swiss Alps, and even a southern Italian town, were only expected to grow by between three and 30 per cent.<\/p>\n

Demand for Australia\u2019s prestige real estate is on the rise, and is classed as homes in the top five per cent of the market.<\/p>\n

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

Byron Bay: Why this famous coastal hotspot continues to draw in new residents<\/a><\/h2>\n<\/header>\n<\/div>\n

The report categorised buyers of these \u201cprime\u201d residences as ultra rich individuals, with a net-worth on average of $40 million.<\/p>\n

Michelle Ciesielski, Head of Residential Research at Knight Frank, told news.com.au: \u201cByron Bay has obviously\u00a0been very popular with our local population but essentially it\u2019s had closed borders.<\/p>\n

\u201cBut looking over the coming years, [with borders opened up], it is expected to see the strongest growth in the luxury space.\u201d<\/p>\n

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

Byron Bay has been named as not just Australia, but the world\u2019s strongest property market for the next few years.<\/strong><\/em><\/div>\n

Byron Bay made it onto the top 12 hot spots because of its \u201chealth and wellbeing\u201d elements.<\/p>\n

The report said the NSW border town is \u201cprimed for growth\u201d because \u201cByron Bay\u2019s environmentally minded council has limited the number of new homes built over the past few decades, meaning that the pace of development has been more measured than in other tourist towns.<\/p>\n

\u201cThis is slowly shifting as the area\u2019s housing shortage begins to impact on local residents, amplified by the recent influx of city-dwellers switching to hybrid work styles.\u201d<\/p>\n

Ms Ciesielski added: \u201cByron became a place to desire over the world.<\/p>\n

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

Abbie Chatfield boasts about buying $1.45million Byron Bay cottage<\/a><\/h2>\n<\/header>\n<\/div>\n

\u201cA lot of movie production happened over the pandemic, and with more down time people were able to see more glorious images coming through [of Byron Bay].\u201d<\/p>\n

Byron Bay\u2019s predicted skyrocketing prices for its luxury commodities follows a common Covid-19 trend, according to Ms Ciesielski.<\/p>\n

\u201cIn 2020 they [high net worth Australians] wanted a home within driving distance to their main residence,\u201d because of the threat of lockdowns, she explained.<\/p>\n

\u201cNow, we\u2019re talking about the accessibility of places like Byron Bay, Gold Coast,\u201d which are just a short plane ride or private jet ride away.<\/p>\n

\n
\"The<\/div>\n

The seaside town is beating every other country in the world in terms of its future luxury market.<\/strong><\/em><\/div>\n

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

Sexy real estate agents \u2013 FUN Instagram Page | sexy.agents<\/a><\/h2>\n<\/header>\n<\/div>\n<\/div>\n

READ MORE VIA NEWS.COM.AU<\/a><\/p>\n

MOST POPULAR IN NEW ZEALAND<\/span><\/h3>\n