Promise of better market fulfilled with prestige home sales
THE SALE of a $7.9m Byron Bay property is a signal the top-end of the property market is flourishing, say local real estate experts.
'The Byronian' at Coopers Shoot, home of music entrepreneur and SAE founder Tom Misner achieved a record sale for a small acreage Byron Bay hinterland property last week when it sold to a Melbourne couple through local agency Unique Estates.
The Byronian featured lighthouse and ocean views and its own private helipad, and the 5.6ha property's $7.9m price tag far exceeded the most recent small acreage record of the 4.04ha Amelika in Federal which sold for $4 million in 2011.
Selling agent Nicolette van Wijngaarden of Unique Estates confirmed The Byronian was now under contract, but it had now been removed from the agency's website and she was unable to comment on the property.
However, principal of Byron Property Sales Graham Dunne said the sale signalled resurgence in confidence in the Byron Bay market.
Mr Dunne said top-end property sales had recovered to pre-GFC levels, if not higher.
"We have a Myocum property in the $4-5million range that has already had 11 inspections before auction," Mr Dunne said.
"This time last year we had 142 properties sitting on the books, now we're down to 80: Properties in the $2 million range are running out the door. Previously these properties were selling to investors, but now we are seeing people moving here to live.
What you get for $7.9m
- Expansive executive 5br residence
- Extensive indoor and outdoor entertaining areas
- Floodlit tennis court
- Large wet-edge pool
- 4 horse paddocks & stables
- 8-car garaging
- Recording studio
- Self-contained studio
- Rainforest stand
- Citrus orchard
- Own spring water