Possum Creek – top end
This property is built on a high spot in magical Possum Creek with great northerly rural views. EOI stands for Expression Of Interest and it is looking for someone to express an interest that starts with a “4” followed by six zeros, at least. Ticks all the boxes for a top end lifestyle – 5 bedroom, 4 bathrooms, studio, orchard, 80 acres, close to town but private.
Wategos – top end #2
This three bedroom house with adjoining villa is currently listed in Wategos Beach. It is an established Holiday Let property with an income of $200,000 PA. It was purchased in 2003 by London based surveyor, Charles Lee. He was in Oz following the Rugby World Cup, visited Byron and fell in love – as you do. It is listed by LJ Hooker Byron and looking for offers between $6 – 6.5M.
Lighthouse Road – Top End #3
A Mortgagee in Possession auction coming up on Lighthouse Road will be interesting. This is one of the last of the old houses along Lighthouse Road on the way to Wategos. These properties have perfect north views looking over the Pass and the hinterland. Renovations or rebuilds along this premium strip have been getting over $6M sales.
Mullumbimby – mid range
My favourite part of Mullumbimby, north of town and south of the river, has had a bit of activity. There have been a few sales but not as surprising as the ones at New City Road which went for well over market expectations. 2 Tyagerah Street, original home on a large block, went for $795,000 at auction the previous weekend. There is another property in this area which has good potential and is listed off-market for offers over $750,000.
Vacant Land, Wilsons Creek
Hen’s teeth are easy at the moment compared to small acreages. This one just listed in Wilson’s Creek – 5 acres for $500,000 with creek frontage.
Lismore, Casino, Kyogle
Property valuation firm Herron Todd White (HTW) have placed a firm “buy” notice on these three Northern Rivers locations. I tend to agree with them. The low purchase price (under $300,000) plus the reasonable rents (at least 5%) make them interesting especially as other, more coastal, markets stay strong.
1. Dream Domes
This company in Billinudgel has been making dome dwellings for many years. The Dreamdome is a modular prefabricated building system. They are offering the first 22 people a discount price on the Dreamdome model to get the new product out there and be tested in the market place.
“Glamping” is all the rage around the world so we have to have it here in groovy Byron. “Glamorous Camping” is soon to pop up at the Byron Holiday Park between Byron and Suffolk this Xmas. Local accomodation provider, Cameron Arnold, already has a history of Glamping at the Falls and Splendour Festivals so this is not such a stretch. The luxury tents will be fully catered with a pop up restaurant and bar from Harvest cafe.
Sydney property developer and major land owner of the West Byron development site, Terry Agnew, is in the news. His iconic Sydney home in Bellevue Hill is on the market for an expected $70M. “Rona” is a gothic style residence built in 1883 on an acre and a half. The Agnews have completed extensive renovation. Agnew is also the owner of the adjacent property on Ewingsdale Road as his company purchased the old chicken factory off the Ingham family for an estimated $3M. He became the majority owner of the West Byron site after most of the original local owners took their bat and ball and went home after facing too much local resistance.
The sale of “Rona” will easily surpass in cost another Sydney property with a Byron Bay connection. Altona, previously Sydney’s most expensive home in Point Piper, sold for $46M by Wategos beach resident, Deke Miskin. That sale is now in the news again as it was sold by a Chinese born real estate agent. It looks like the agent put the sale in the name of her mother’s name to save the mainland Chinese billionaire, Mr Wang, not having to go through the Foreign Investor Revue Board. The mother got the land tax bill and other complications and now everyone involved is in a world of pain.
Win for AirBNB
Short term holiday letting in NSW got a boost recently. The Legislative Assembly Committee on Environment and Planning spent 18 months looking into the industry. The report just released said that the industry is “operating successfully” and “with the right amount of legislation and compliance regime, can be operated in residential areas”. Byron Shire at least us well advanced on this issue with what is hopefully a successfully negotiated compromise between residents and HLO (Holiday Let Organisation).