In 2020, the “celebrity hotspot” has drawn in the likes of Zac Efron with his new Aussie girlfriend and Nicole Kidman who’s shooting a new TV miniseries on its shores, while locals complain of increasing crowds and traffic. What does the federal budget update mean for the economy? "On the one hand we tend to celebrate price growth… (but) when you look at what's been happening in Byron Bay and the region (Northern Rivers), we are getting quite Sydney-like in terms of pricing," Ms Conisbee said. "Some days are a huge fight to stay positive and keep going. Spa king���s Byron Bay trophy home back on the market - ��� Byron Bay Real Estate Rolls In - The Urban Developer | Property ��� Read the latest Byron Bay Property headlines, Real Estate in Byron Bay ... bringing buyers and sellers together in a complicated market. I don't want to ever move.'". Originally, when he wanted to move to Wollongong, they said it was too far away and they needed him to be closer.". "What the pandemic has done is that it's shown employees and employers that many jobs can be done remotely.". First National Byron provides local updates, trending lifestyle, the latest real estate and property market news, and snapshots of the popular place to live in Byron Bay and Lennox Head. "I think because of COVID they now recognise that he can work part-time from home. "Seeing people coming into the area and offering to pay rent up front, or increased rent, that's probably not good for our community as a whole.". A NOTE ABOUT RELEVANT ADVERTISING: We collect information about the content (including ads) you use across this site and use it to make both advertising and content more relevant to you on our network and other sites. Sunshine Beach in Noosa on the Sunshine Coast is next in line, with house prices in the booming small town growing 33 per cent in the last year, with an average housing price of more than $2 million. The markets rate number one for so many different things! Caitlin Furlong, Hannah Ross, Melissa Martin, Timothy Fernandez and Bruce Mackenzie contributed reporting. "It's lifestyle that took us to the suburbs, it's lifestyle that took us to sea change and tree change to retire. Picture: SuppliedSource:Supplied. "I think we'll try and make this work," she said. View listing details #2016603389 on Domain She said eight months of uncertainty was taking its toll. “Rental market conditions remain weak in the aftermath of the coronavirus crisis, so it is surprising to see fairly strong unit price growth across capital cities,” Ms Conisbee said. Bangalow-based agent Ali Page said the interest in properties across the Northern Rivers region was not good news for everyone. RELATED: Hemsworth reveals new plans for Byron estate, RELATED: Bassingthwaighte snaps up Byron retreat, Byron Bay has seen the highest property growth in Australia. ", Find more local newsTell us your location and find more local ABC News and information. Musician Natalie Bassingthwaighte and her husband recently bought up in the area, joining the likes of Chris and Liam Hemsworth. "In 24 years, I've never seen it like this on the Coffs coast," he said. The Coffs Harbour-Grafton region on the state's mid-north coast has experienced the strongest property price growth in the three months to September 2020, with the quarter on quarter median sale price up 8.70 per cent, according to the latest data from realestate.com.au. Byron Bay Market is a social and cultural hub of the community, with well over 300 market stalls and a focus on locally-made goods and produce. Mr Webb said he thought the trend was here to stay. Further south, the pressure on rentals is leaving those most vulnerable out in the cold. After you get so many rejections, it can take a toll, but you've got to pick yourself up and keep going.". If you are looking for an investment property, consider houses in Byron Bay rent out for $750 PW with an annual rental yield of 2.1% and units rent for $590 PW with a rental yield of 3.8%. "A lot of people are reassessing their life and lifestyles, their work environment, so with the influx of people coming here nowadays there's a big proportion of those that will stay here long term, I think.". She and he husband paid around $2.15 million for a property in Ewingsdale, 7km inland fringing Byron Bay, in November. Whilst she would not be drawn on the forthcoming state budget, NSW Property and Housing Minister Melinda Pavey said COVID had sharpened her eye to some of the emerging challenges. Canberra, Hobart and Perth markets are also strong in 2020 and Melbourne is surprising seeing growth despite the prolonged lockdown this year. More people are moving out of cities, possibly because of shifting work arrangements that don’t require them to be close to the CBD, which has also impacted rental markets in the cities. Find out more about our policy and your choices, including how to opt-out. That all changed when COVID-19 forced a rethink on working from home, and the couple finally saw an opportunity to move south to Wollongong. "Even approvals through council can sometimes be challenging. First-time buyers were spurred on by the 5 per cent deposit scheme which took off in January and the state government incentives which came through to support the economy through the recession as well as the record-low interest rates, she said. Sydney continues to top Australia’s capital city property growth.Source:istock. "I think the common denominator between Australians of today and 50 years ago, is that we are all obsessed with lifestyle," Mr Salt said. "It's not for everyone, but you only need 1 per cent of 1 per cent of metropolitan Australians to make that choice and have a big impact on those communities.". “Interest rates are incredibly low and that’s allowing people to borrow more,” she said. From Byron Bay to LA: Inside the Hemsworth brothers��� multimillion-dollar property portfolio December 17, 2020 by Read Sector They���re already Hollywood heavyweights, but the Hemsworth brothers have also built up an impressive family property portfolio. Ms Conisbee said since the pandemic, there had been an acceleration of interest in areas like Byron Bay, where property prices increased by almost 30 per cent in the three months to September. There are promising signs for NSW buyers with the removal of stamp duty which is set to come in mid-2021, which might slow the market down until the new policy comes into action, Ms Conisbee indicated. There's just so many people and there's a lot of couples, and I just get disheartened sometimes and think, is it even worth me looking?". Byron Bay property market 'strongest in a decade' Michael Bleby Senior reporter. "We're prepared to face those challenges, but it's not just up to government," she said. AEST = Australian Eastern Standard Time which is 10 hours ahead of GMT (Greenwich Mean Time), NSW COVID-19 cases jump to 17, Northern Beaches residents urged to stay home, States announce quarantine measures for anyone who has been to Sydney's Northern Beaches, Tasmania introduces outright ban, Emmanuel Macron tests positive to COVID-19, Man shot dead by police in Brisbane had been investigated by counter-terrorism taskforce. The couple is one of many rethinking their city lives and lifestyles, and deciding they have held off on their great escape for long enough. Median house prices have grown 5.61 per cent in the capital region near Canberra in the three months to September 2020, while the central west of New South Wales has seen an increase of 3.7 per cent. Picture: SuppliedSource:Supplied. The author of the REA Group's Regional Australia Report, Nerida Conisbee, said Bangalow was receiving about 12,000 views per listing on their website, compared with a Melbourne CBD apartment, which might see about 500 views per listing. Meanwhile, Whyalla in South Australia and Dodges Ferry in Hobart had price growth of more than 27 per cent. "We're getting enquiries from all over Australia, even when COVID was at its peak. November marked a turning point because of the announcement of several vaccines as well as a new APAC trade agreement and opening up of domestic borders, Ms Conisbee said. news.com.au — Australia’s leading news site, Hemsworth reveals new plans for Byron estate. "The last place I went to, the line up was four houses down. Ms Conisbee said that first homebuyer activity is “red-hot at the moment”, while investors have “cooled off”. “Rules to accessing credit is changing so it’s easier to get loans.”. Michael Murray has been a Byron local for 35 years and property buyer���s agent for over 20 years. Source: REA Insights - Regional Australia Report November 2020. THE 10 BEST Restaurants in Byron Bay Updated December 2020 - ��� "When COVID hit, he was able to work online and we were able to make it to Wollongong and live our dream," she said. "When we first moved here, my husband said, 'I don't want to get stuck in Wollongong'. “Buyer confidence has definitely returned but rental demand is lacking.”. "Why would you work from home from Parramatta, or Dandenong, when you could work from Bangalow, or Byron?" he said. "The Byron Bay region now has global appeal," she said. Ms Conisbee told news.com.au there has been a clear shift to properties outside of the CBD as buyers look to coastal and regional areas after the 2020 pandemic shift. While the lure of a beachside lifestyle appeals to many, the charm of close-knit inland communities is also driving growth in the property market. Byron Bay has 10 properties available for rent and 34 properties for sale. Find out more about our policy and your choices, including how to opt-out. She said the rise in regional properties could be because of the increase in first homebuyers entering the property market while employment has seen Australians shift away from the capital cities. He has deep local knowledge of our property market and what is happening ��� Continue reading "December���s Market Watch" Regional Australia Report November 2020. Interest in Bangalow has pushed house prices up 1,281 per cent in two decades���from $76,025 in 2000 to $1.05 million in 2020. 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