Byron Bay

Byron Bay tops strongest property price growth in Australia as coastal, regional house prices surge

PHOTO: Byron Bay has seen the highest property growth in Australia. Picture: Supplied

Byron Bay is seemingly losing its quiet coastal vibe it used to be known for as the rich and famous flock to the dreamy small town for its relaxed Aussie lifestyle and pristine beaches.

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.

According to REA Group chief economist Nerida Conisbee, Byron Bay is the property hotspot of the year, seeing the strongest property price growth across the whole country in 2020.

Musician Natalie Bassingthwaighte and her husband recently bought up in the area, joining the likes of Chris and Liam Hemsworth. She and he husband paid around $2.15 million for a property in Ewingsdale, 7km inland fringing Byron Bay, in November.

The town’s housing prices have increased more than 40 per cent in the past 12 months, with a median house price of around $1.83 million.

Byron Bay has seen the highest property growth in Australia. Picture: Supplied

Byron Bay has seen the highest property growth in Australia. Picture: Supplied

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.

An unexpected boost was seen in Sarina in Mackay, a rural coastal town in central Queensland, and Penguin in Tasmania’s Central Coast, both eyeing an increase of around 32 per cent, with homes averaging less than $400,000.

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