As you enter Byron along Ewingsdale Road, you see this sign on your left. To me it is emblematic of Byron Bay not just for the sentiment but for the history of the sign itself. The original sign, with the highly endorsable message, was erected by an unknown local a number of decades ago. It crumbled over time and a new version of the sign magically appeared not long ago. Both signs did not get permission, a DA or go through some committee or planning process, but just appeared.
The popularity of the sign is self evident. I often see cars stopped at the side of the road with young people all over it with selfies and group shots. No doubt these images will be appearing in social media all over the world and indirectly promoting brand Byron. Lets hope one day we can have a road side parking bay so its not so dangerous.
Byron real estate market wrap
Our local market remains strong with no signs of easing off for winter. Agents I talk to say that they still have strong buyer demand. Byron Bay First National say this is the strongest winter they have had in 10 years. Average days on market has halved in the last 18 months. There have been some big sales of luxury properties in the hills, as well as two sales in Wategos over $5M. This strong winter could be sustained until spring.
Berlin down on AirBNB
Popular accommodation rental business AirBNB is being regulated by the authorities in Berlin. Similar to Byron Bay, Berlin has become too popular for its own good, according to some residents. Many owners and landlords are withholding apartments from the permanent rental pool in order to let them out online to transitory tourists. Sounds familiar? The elected officials from the city-state have introduced a regulation which “prohibits against improper use”. The response came after rents increased over 56% between 2009 – 2014. Still, at 10 Euros per square metre, Berlin remains one of the cheapest of all European cities.
Swimming Pool regulations
If you have a swimming pool and are selling or leasing you now need to have it certified. Stiff fines and penalties will apply for non compliance. (The plan is for swimming pools to be compliant you will have to empty them of all water). For a certificate on your pool you need to contact a building inspector or pool certifier and the cost is approximately $350.
Interest rates on hold
No interest in interest rates this month. The RBA has left the rate on hold at 1.75% for June, but many punters think the tea leaf reading says another droplater in the year. Possible as early as August.
If you do have interest in interest rates, this is what Westpac are offering:
- Rates 3.75% special intro rate on our Flexi First Home Loan.
- 3.89% is the 2 year fixed rate for Home Loan under the Premier Advantage Package
- 3.99% is the 2 year fixed rate for Investment Loan under the Premier Advantage Package
- Still offering $1250 cashback for refinances until June 12