Displaying items by tag: Hot Property

Hot Property - March

Hot Property

Byron Bay

Who wants a home in Byron Bay for under $300K?

A manufactured home in the Discovery Park on Ewingsdale Road, Byron has come on the market for $259,000. I site rental charge if $200 PW is on top of that though. Look out for potentially more of these "Manufactured Home/ Caravan Park Estates" coming online as a quick and simple way to alleviate the housing/affordable home shortage.

Keats Street Byron Bay

W.B Keats is one of my favourite poets and our forefathers named a great street after him. It is one of the cross streets over Bangalow Road just south of town. One of the older period houses is coming to auction soon expecting 1.2-1.25M. It is on 1271 M2 with an existing 3 bedroom 1 bathroom cottage. Suitable for reno or redevelopment.

On the other side of Bangalow Road, to the west, there is a small eco-village Community Title subdivision of six houses. One of these properties has been listed for a while and starting to look like good value at $1.05M. It is a modern two story, 2 bedroom, one bathroom home on 1050 M2.

Bangalow/Talofa

Karen Heller from Parkinson Real Estate just listed and sold a property outside Bangalow last week. It was three seperate houses on a few hectares and sold at auction for $2.85M. Only thing of interest in that is that the same place, with no intervening renovation, sold only two years ago for $650,000 less. That is about right for the 23% increase we have had in two years on well located rural properties

Brunswick Heads

The former CEO of Channel Nine David Gyngell has teamed up again with his mate, local identity John "Strop" Cornell to expand their Brunswick Heads holdings. They've spent $3 million on a house on 1,012 M2 in the heart of Brunswick Heads (pictured above). It comprises two stories with four units in a fibro structure with a large back yard. It’s in the back lane behind the Brunswick pub, which they already own, and I am sure the duo will be doing something interesting with it.

Rural Acreages

There is outstanding demand for small rural acreages within 20 minutes of Byron Bay. I know of half a dozen small community title subdivisions in process with council but no more after that. The present council has shelved the draft Rural Settlement Strategy that was rushed through during the dying days of the last council. That’s fine but how long will the new draft take before it is ready?

The new council made it an election issue and they were solidly voted in so no one is disputing they have a mandate to protect the rural and agricultural priority of the shire. What makes our shire beautiful is being able to drive, walk or bicycle through our emerald green hills and valleys. The problem is what to do when everyone wants a piece of it. At present the only two options are to chop it up into little pieces and destroy it (which our present zoning does not allow so don't worry) or leave it as it is and those that have one are lucky enough to see it rise exponentially in value. Council will have to relook at the Draft Settlement Strategy soon and many will be looking on with interest to see how they can resolve this thorny problem.

Milton, NSW South Coast

It is worth noting that Byron Bay hinterland is not the only hot rural region in the country. Milton on the NSW south coast is also experiencing a boom. It had a 29% increase in the last 12 months easily beating Byron’s 11%. It has the advantage of being only half a day drive from Sydney. It also has the uncrowded and pretty beaches of Mollymook a stone’s throw away. A median price of only $649,000, a bit over half that of Byron, is also a big attraction.

Why the sustained demand for quality coastal real estate? Social demographer and commentator, Bernard Salt, had an interesting article in the weekend Oz. The idea is that every region has its desired destination for the uber rich. Dubai has boomed because the Saudi’s and other Middle East high flyers want to work and paly there. London is the chosen destination for the Russian Oligarchs. Sydney, and to a lesser extent Melbourne, are places that Chinese billionaires want to have a safe haven, have a holiday home and educate their kids.

Byron Bay and towns like Milton and Mollymook are the secondary beneficiaries of this largesse. Sydney retirees can sell up for big money and come to these lifestyle destinations for the good life. As long as China keeps growing and Australia maintains a stable currency, strong civil society and legislation this will probably continue.

Read more...

Hot Property - March

Hot Property

Byron Bay

Who wants a home in Byron Bay for under $300K?

A manufactured home in the Discovery Park on Ewingsdale Road, Byron has come on the market for $259,000. I site rental charge if $200 PW is on top of that though. Look out for potentially more of these "Manufactured Home/ Caravan Park Estates" coming online as a quick and simple way to alleviate the housing/affordable home shortage.

Keats Street Byron Bay

W.B Keats is one of my favourite poets and our forefathers named a great street after him. It is one of the cross streets over Bangalow Road just south of town. One of the older period houses is coming to auction soon expecting 1.2-1.25M. It is on 1271 M2 with an existing 3 bedroom 1 bathroom cottage. Suitable for reno or redevelopment.

On the other side of Bangalow Road, to the west, there is a small eco-village Community Title subdivision of six houses. One of these properties has been listed for a while and starting to look like good value at $1.05M. It is a modern two story, 2 bedroom, one bathroom home on 1050 M2.

Bangalow/Talofa

Karen Heller from Parkinson Real Estate just listed and sold a property outside Bangalow last week. It was three seperate houses on a few hectares and sold at auction for $2.85M. Only thing of interest in that is that the same place, with no intervening renovation, sold only two years ago for $650,000 less. That is about right for the 23% increase we have had in two years on well located rural properties

Brunswick Heads

The former CEO of Channel Nine David Gyngell has teamed up again with his mate, local identity John "Strop" Cornell to expand their Brunswick Heads holdings. They've spent $3 million on a house on 1,012 M2 in the heart of Brunswick Heads (pictured above). It comprises two stories with four units in a fibro structure with a large back yard. It’s in the back lane behind the Brunswick pub, which they already own, and I am sure the duo will be doing something interesting with it.

Rural Acreages

There is outstanding demand for small rural acreages within 20 minutes of Byron Bay. I know of half a dozen small community title subdivisions in process with council but no more after that. The present council has shelved the draft Rural Settlement Strategy that was rushed through during the dying days of the last council. That’s fine but how long will the new draft take before it is ready?

The new council made it an election issue and they were solidly voted in so no one is disputing they have a mandate to protect the rural and agricultural priority of the shire. What makes our shire beautiful is being able to drive, walk or bicycle through our emerald green hills and valleys. The problem is what to do when everyone wants a piece of it. At present the only two options are to chop it up into little pieces and destroy it (which our present zoning does not allow so don't worry) or leave it as it is and those that have one are lucky enough to see it rise exponentially in value. Council will have to relook at the Draft Settlement Strategy soon and many will be looking on with interest to see how they can resolve this thorny problem.

Milton, NSW South Coast

It is worth noting that Byron Bay hinterland is not the only hot rural region in the country. Milton on the NSW south coast is also experiencing a boom. It had a 29% increase in the last 12 months easily beating Byron’s 11%. It has the advantage of being only half a day drive from Sydney. It also has the uncrowded and pretty beaches of Mollymook a stone’s throw away. A median price of only $649,000, a bit over half that of Byron, is also a big attraction.

Why the sustained demand for quality coastal real estate? Social demographer and commentator, Bernard Salt, had an interesting article in the weekend Oz. The idea is that every region has its desired destination for the uber rich. Dubai has boomed because the Saudi’s and other Middle East high flyers want to work and paly there. London is the chosen destination for the Russian Oligarchs. Sydney, and to a lesser extent Melbourne, are places that Chinese billionaires want to have a safe haven, have a holiday home and educate their kids.

Byron Bay and towns like Milton and Mollymook are the secondary beneficiaries of this largesse. Sydney retirees can sell up for big money and come to these lifestyle destinations for the good life. As long as China keeps growing and Australia maintains a stable currency, strong civil society and legislation this will probably continue.

Read more...

Hot Property for September

Hot Property for September
Business News:

Whenever First National agent Tara Torkkola enters East Mullumbimby, the resident’s eyes go “Kaching! Kaching!” Tara’s recent auction efforts have gone off like fireworks. She first had a hand in her own property sale at #12 New City Road, which sold for $758K – well above the mid 600s expected range. Then last month, #24 went under the hammer achieving a remarkable $900,000 with a price guide of $785,000. Admittedly, this home had a studio with dual access, but still a massive price in what I believe is not the best area of Mullum.

There have been a number of excessive sales in Mullum of late. Many locals are concerned about losing that special, distinctive vibe Mullum has managed to cultivate over the years. There is understandable concern these prices are starting to mimic the craziness of Byron and will change the nature of the town. If it is any consolation, nearly all of the people I help to settle here are trying to add to the vibe, not change it. But yes, it is getting richer and we will be forcing out long term residents that cannot afford the rents. Anyone with a workable idea on how to fix this, please send in your plan (then we will send you to the Middle East to fix that as well).

Renovations in Town

Beach – Byron Bay

The humble Beach Café on Clarks beach has seen a number of transformations over my time here. It is now called “Beach – Byron Bay” and this latest renovation comes after the successful beachside business was partly purchased by Sydney arts couple, Leon and Margaret Fink. Menu prices have also had a major face-lift as well. But the location and view is still priceless.

Margaret Fink is a successful Film and TV producer (My Brilliant Career, Candy). Leon Fink, who turns 80 this year, is a developer, entertainment entrepreneur, restaurateur and philanthropist. This should be viewed as a stamp of approval for local owner Ben Kirkwood. The Fink Group has a history of only partnering with Australia’s leading chefs and restaurants, like Tetsuya Wakuda, Tony Bilson, Peter Kuruvita and Guillaume Brahimi.

Byron Bay Brewery and Buddha Bar

Also under renovation is the Buddha Bar and Brewery at the old Arts Factory site in Gordon St., Byron Bay. The Byron Bay Brewery was recently purchased by multinational, Lion Nathan and the premises housing the brewery and Buddha Bar are being revamped. The spa and cinema are a separate business.

The Byron Bay Brewery was under pressure a few years ago for licensing its Pale Ale to Carlton United without a public disclosure. The local brewery has wanted to sell for some time after failing to get expansion plans through council. This story brings up a few interesting issues. How do we as a community when "Byron Bay” is being used for branding, especially if the product is not actually manufactured in Byron Bay? Also, a main reason they had to sell up was because they were not able to expand their business because of compliance regulations and the council generally being anti development. I know of a few businesses in this predicament. How do we balance limiting development while still wanting to provide room to grow to those businesses capable of giving full employment to more than a few?

More Beer - Stone and Wood

Another local brewing business is Stone and Wood. They managed to side step the expansion issue by opening a bigger brewery in Murwillumbah but have decided to stay local as much as possible. They are very much part of the community and are big supporters of local events, charities and community organisations. They run a funky brew house and small retail outlet at Boronia Place in the Byron Arts and Industry Estate.  Try their Pacific Ale as its excellent.

Spell and the Gypsy Collective

Screen Shot 2016 08 31 at 12.00.45 PM

Wow! Since I am talking up local Byron businesses. How about this small independent local fashion label scooping the Telstra Business of the Year prize? Sisters Elisabeth Abegg and Isabella Pennefather employ 50 women in Byron Bay, have over 800,000 website followers, sell online to over 130 countries and have the likes of Katy Perry, Mylie Cyrus as fans. They run a small retail showroom at the Browning Street roundabout at the south side of town, opposite the Green Garage. Check it out!

Brunswick Picture House

Something that is not to be celebrated is the sudden closure of the Brunswick Picture House. A few issues ago, I lauded the resurrection of this derelict building and was thrilled to see it was resurrected into an arts and cabaret venue able to support the many talented local performers. Seems like there has been a complaint from a neighbour, and coupled with a not completely kosher "existing rights" zoning approval, council have forced it to close. Please google "change.org save Brunswick Picture House" and sign the petition to support this unique and worthy asset to our local venues. 

HOT PROPERTY:
Wategos Beach stunner

Screen Shot 2016 08 30 at 2.21.30 PM

Janis Perkins from Real Estate Of Distinction agency secured the sale of “Wattai” 4 Palm Valley Way, Wategos Beach for $5.6M. The property was owned and renovated by architect Peter Maddison who is the presenter of Grand Designs Australia. He purchased the property in 2004 for $3.7M and now has sold it to Melbournian, Alan Sinclair.

2 X Byron Bay development sites

There is a block of land in Byron going to auction soon on the south side of Byron. It is just over 2000 M2 and can be subdivided into 4 X 500 blocks. If the agent estimate for $1.8 – 1.9M is accurate this could be a good buy considering how much half blocks are selling for now in Byron. Council contributions will still need to be paid as well.

Large block in Byron 

This double block on Paterson Hill is one of the last ones left. It has ocean views north west to the bay as well as north east to the lighthouse. Original house is in OK condition but will need some work. The back block is in a great quite street and only a hop and skip to Clarkes Beach. All be like for mid to high 2s.

Ocean Shores

As I have predicted in previous newsletters, Ocean Shores is now getting a lot more buyer attention. There are still some entry level properties coming on the market - under $600,000 but do not stay listed for long. I have been helping clients lately offer full price to good properties and have it taken off the market. Entry level buyers may soon be left behind I am afraid. I can understand the desire of wanting to limit any further development in our beautiful shire. Opposing all development while still supporting affordable housing, helping struggling renters and young couples getting their first home - this is conflicted thinking. 

 

 

Read more...
Subscribe to this RSS feed
spacer
Byron Property Search
Call at any reasonable time!
Michael Murray:
0428 555 501
Office:
(02) 6684 1744
8/42 Bilin Road
Myocum Byron Bay 2481
 
Newsletter

  1. First Name(*)
    Please let us know your name.
  2. Last Name(*)
    Please let us know your name.
  3. Your Email(*)
    Please let us know your email address.
RebaaLong
Buy with confidence
REBAA Real Estate Buyer’s Agency Association is Australia’s national body of professional, exclusive buyer’s agents. When using a REBAA certified agent you can be assured of quality and integrity.
 

 

 spacer