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Byron property prices top region

An 'event' auction of this traditional 1980s style brick-and-tile holiday house in Brunswick Heads in 2015 drew a large crowd and a record property price. Photo Luis Feliu

An ‘event’ auction of this traditional 1980s style brick-and-tile holiday house in Brunswick Heads in late 2015 drew a large crowd and a record property price. Photo Luis Feliu

Byron shire ratepayers, who are still reeling from being slugged for parking in Byron Bay, will soon have to face bigger rates notices as well.

The shire has topped the region’s LGAs in the valuer-general’s 2015 statewide survey of land values, released today.

Residential properties in Byron Shire increased in median value by 17.85 per cent last year to $383,000, up from $325,000 last year.

Meanwhile, median residential and commercial property prices increased even more, by 20 per cent and 20.16 per cent respectively.

While this pales in comparison to some Sydney suburbs, some of which had increases of more than 30 per cent, it well and truly outshone all of its near neighbours.

Tweed shire came in second with a 10.22 per cent increase in median residential property prices, to $248,000 and a 12.96 per cent increase in commercial.

But the big surprise in Tweed was the value of industrial properties, which jumped 53.51 per cent in median terms to $350,000.

Yet just minutes down the new Pacific Highway in Ballina, median residential prices saw a much more modest 6.06 per cent increase to $245,000, with commercial and industrial properties showing no increase at all.

In Lismore, residential property values were even lower – just 4.42 per cent growth to $118,000. Commercial properties were also flat, with industrial premises showing just a 3.42 per cent increase.

Record Brunswick house sale

It’s getting a lot more expensive to enjoy the ‘simple pleasures’ of Byron’s traditionally sleepy Brunswick Heads, with a recent auction there setting a new record.

A typical 1980s brick-and-tile holiday house, which has been divided into two two-bedroom flats, on a block close to town, sold for $1.152 million just before Christmas.

Auctioneers for Byron Bay First National pulled out all the stops with a coffee cart at an onsite ‘event’ auction that was attended by more than 50 people.


One response to “Byron property prices top region”

  1. Greg says:

    Never let facts get in the way of a good story.

    An increase in property values does not necessarily equate with an increase in Rates (in not only Byron Shire, but Shires Australia wide).

    In crude terms, Shires ascertain the revenue level they require, and then set their rates based on individual land values. So the VG could double land values evenly across a Shire, and Councils halve their land-value-based rates and achieve the same revenue level. The sting in the tail is where only some properties cop a higher valuation from the VG: they would then get hit with a proportionally higher increase than other properties in the Shire that, say, were assessed with a lower, or no increase in valuation.

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