28.3 C
Byron Shire
February 1, 2023

Byron Shire house prices plummet

Latest News

$3 million for regional news outlets in NSW

The NSW government has announced a new $3 million fund to assist regional communities to have access to trusted news sources covering the stories that matter.

Other News

$3 million for regional news outlets in NSW

The NSW government has announced a new $3 million fund to assist regional communities to have access to trusted news sources covering the stories that matter.

Nudging into a Smarter Summer

Nudge Nudge Wink Wink! 2023’s summer continues with a lineup that’s guaranteed to have you deliciously dancing from the moment you arrive. 

Duck Creek Mountain Bike Park reopens

Just off the road between Alstonville and Ballina, the spectacular Duck Creek Mountain Bike Park has re-opened, bigger and better, after an injection of funding and lots of hard work from dedicated volunteers.

Saint Bob of the Greens in Lennox Head

With hardly a vacant seat in the auditorium, Bob Brown kept the party faithful’s eyes, ears and hearts glued...

Australia Day in the Tweed

The Tweed community will reflect, respect and celebrate what it means to be part of the unfolding national story on Australia Day.

Ahana Candles

Victoria Cosford Many years ago, Marianni had a dream in which a golden liquid was pouring over her hands. She...

House prices have plunged further in Byron Bay over the past year than in any other regional town or suburb in NSW, according to data from Core Logic.

The company’s annual Best of the Best report shows that prices fell 20.5 per cent in the town during 2022, as a combination of floods and rising interest rates hit the town hard.

The Shire’s other large population centres were not far behind, according to the data.

Suffolk Park was second on the list of regional towns that recorded the biggest fall in values, at -18.5 per cent, with Mullumbimby coming in fourth (-18.2 per cent), Bangalow in fifth (-16.6 per cent) and Ocean Shores in seventh (-15.7 per cent).

‘The COVID-induced boom for Australia’s regional housing market has burst, with several regional markets that had the strongest value growth through the upswing now among the fastest declining markets,’ CoreLogic head of research Eliza Owen, told the Australian Financial Review (Nine) last week.

‘Unlike the capital city markets, regional housing markets have suffered ongoing extreme weather events, which have compounded the impact of rising rates on housing demands.’

However, dramatic the falls may have been, they are far from undoing the dramatic upsurge in prices that occurred during the early years of COVID-19.

During 2020, Byron Shire house prices leapt by 56.5 per cent.

Byron Bay remains high on the list of most expensive suburbs in regional NSW at number three, with a median house price of $2.30m.

Ewingsdale has now moved to the top of that list with a median price of $2.97m, though that figure is based on just 18 sales during the calendar year.

The biggest price drops in the country occurred in Sydney, with Narrabeen recording a 26.8 per cent decline, followed by Surry Hills (-25.4 per cent) and Redfern (-25.3).

Support The Echo

Keeping the community together and the community voice loud and clear is what The Echo is about. More than ever we need your help to keep this voice alive and thriving in the community.

Like all businesses we are struggling to keep food on the table of all our local and hard working journalists, artists, sales, delivery and drudges who keep the news coming out to you both in the newspaper and online. If you can spare a few dollars a week – or maybe more – we would appreciate all the support you are able to give to keep the voice of independent, local journalism alive.



Please enter your comment!
Please enter your name here

Vale Professor Will Steffen – leading climate scientist

Leading climate scientist Professor Will Steffen has died of pancreatic cancer in Canberra at 75.

Oil spill on M1 near Byron, traffic backed up to Brunswick Heads exit

An accident on the M1 has brought southbound traffic to a standstill from the Brunswick Heads exit at Gulgan Road and Tweed Street.

Four arrested over alleged break-ins, trespass – Casino

Four boys have been arrested by police investigating alleged aggravated break and enter and trespass offences in Casino on Monday, 30 January.

V-Day returns to Byron Bay, February 14

A mass global action, One Billion Rising, which aims to end violence against women and children, is planned for V-Day on February 14, Main Beach, Byron Bay from 7am.