Hot prices for Byron properties
The sale of two multi-million dollar Byron Bay properties on the same day last week has injected confidence back into a tough real estate market.
The two properties, both of which achieved record prices of more than $6 million, were sold by the principals of Byron Bay Property Sales, Graham Dunn and Jeremy Bennett.
“We exchanged contracts for both properties on the same day last week and that was pretty exciting,” Mr Bennett said.
“It’s a fantastic achievement as the market is really quiet and it boosts confidence back in to the high-end Byron Bay market.”
One of the properties was an older-style house on the Byron Bay beachfront.
The price set a record for the area and it was sold within two days of being on the market.
The other property, 21 vacant acres at Seven Mile Beach, Broken Head, was sold through an expressions of interest campaign that lasted less than 90 days.
More than 200 inquiries were received on the Broken Head property, which also set a record price for the area.
The land sold for more than 25 per cent above the price it sold for five years ago.
Both buyers were from Australia.
“Prospective buyers have been looking at property for a long time, but now finally they are making a move and buying,” Mr Bennett said.
“There’s always speculation about the high-end Byron market, and people say that it’s overpriced, but these sales prove that people are more than happy to invest their money.”
One year ago, Mr Dunn and Mr Bennett sold the North Beach site at Byron Bay formerly owned by Becton for a record $18.5 million.
Mr Dunn said Byron Bay Property Sales was ‘the quiet achiever’ in the local market.