Land values in the Byron local government area
North Coast region
General overview
There was a strong increase in land values in the Byron local government area between 2017 and 2018, with this trend being consistent in the residential, rural and industrial land values. However, there was a moderate increase in commercial land values.
The increase in land values was driven by high demand for the limited supply of properties on the market.
Land value trends
Property zone | 01 Jul 2017 | 01 Jul 2018 | % change |
---|---|---|---|
Residential | $6,619,350,240 | $7,313,850,260 | 10.5% |
Commercial | $762,449,470 | $837,026,020 | 9.8% |
Industrial | $239,195,150 | $282,933,710 | 18.3% |
Rural | $2,022,615,876 | $2,360,514,450 | 16.7% |
Other | $1,113,078,030 | $1,225,100,380 | 10.1% |
Total | $10,756,688,766 | $12,019,424,820 | 11.7% |
Number of properties by zone
Total number of properties: 13,625
Residential land values
Residential overview
There was a strong increase in residential land values in the Byron local government area, driven by high demand from investors and owner occupiers for the limited supply of properties on the market.
Residential land values were supported by employment in tourist based industries, retiree purchasers, local service industries and employment in nearby centres with owners choosing to live in Byron and commute to work.
Residential land values at Wategos Beach showed a slight increase, while value levels in Byron Bay tourist and medium density zones generally remained steady. These areas generally experienced land value increases in prior years with market conditions slowing.
Value levels in village areas were steady with demand easing after increasing in value significantly in 2017.
Median land values and sale prices
The above chart shows movement in the property market and land values over a five year period. In areas where there are a low number of sales, median sale prices may not accurately reflect the property market. Land values may not always move directly in line with sale prices due to the influence of other factors, such as building costs.
Typical residential land values
Address | 01 Jul 2017 | 01 Jul 2018 | % change |
---|---|---|---|
Barby Cres, Bangalow | $550,000 | $590,000 | 7.3% |
Tristania St, Bangalow | $485,000 | $535,000 | 10.3% |
Excelsior Cct, Brunswick Heads | $450,000 | $480,000 | 6.7% |
Fingal St, Brunswick Heads | $785,000 | $920,000 | 17.2% |
Old Pacific Hwy, Brunswick Heads | $34,500 | $40,000 | 15.9% |
South Beach Rd, Brunswick Heads | $1,470,000 | $1,560,000 | 6.1% |
Tweed St, Brunswick Heads | $750,000 | $840,000 | 12.0% |
Belongil Cres, Byron Bay | $970,000 | $1,100,000 | 13.4% |
Julian Rocks Dr, Byron Bay | $610,000 | $660,000 | 8.2% |
Lawson St, Byron Bay | $2,350,000 | $2,350,000 | 0.0% |
Lighthouse Rd, Byron Bay | $3,000,000 | $3,000,000 | 0.0% |
Lilli Pilli Dr, Byron Bay | $600,000 | $640,000 | 6.7% |
Pacific Vista Dr, Byron Bay | $1,550,000 | $1,670,000 | 7.7% |
Ruskin St, Byron Bay | $1,470,000 | $1,650,000 | 12.2% |
Scott St, Byron Bay | $825,000 | $940,000 | 13.9% |
Roses Rd, Federal | $370,000 | $375,000 | 1.4% |
Ann St, Mullumbimby | $393,000 | $435,000 | 10.7% |
Myocum Downs Dr, Myocum | $610,000 | $675,000 | 10.7% |
Dandaloo Way, Ocean Shores | $370,000 | $400,000 | 8.1% |
Durroon Ct, Ocean Shores | $375,000 | $430,000 | 14.7% |
Jarrah Cres, Ocean Shores | $440,000 | $475,000 | 8.0% |
Narooma Dr, Ocean Shores | $400,000 | $450,000 | 12.5% |
Shara Bvd, Ocean Shores | $2,100,000 | $2,400,000 | 14.3% |
Robin St, South Golden Beach | $490,000 | $535,000 | 9.2% |
Broken Head Rd, Suffolk Park | $540,000 | $580,000 | 7.4% |
Midgenberry Pl, Suffolk Park | $625,000 | $690,000 | 10.4% |
Wareham St, Suffolk Park | $960,000 | $1,100,000 | 14.6% |
Commercial land values
Commercial overview
Commercial land values showed a moderate increase in land values, driven by the continued strong tourist sector and high investor demand combined with low interest rates.
Typical commercial land values
Address | 01 Jul 2017 | 01 Jul 2018 | % change |
---|---|---|---|
Centennial Cct, Byron Bay | $850,000 | $1,050,000 | 23.5% |
Jonson St, Byron Bay | $1,570,000 | $1,780,000 | 13.4% |
Jonson St, Byron Bay | $3,500,000 | $3,850,000 | 10.0% |
Marvell St, Byron Bay | $2,300,000 | $2,450,000 | 6.5% |
Burringbar St, Mullumbimby | $680,000 | $730,000 | 7.4% |
Rajah Rd, Ocean Shores | $2,580,000 | $2,580,000 | 0.0% |
Clifford St, Suffolk Park | $1,980,000 | $2,140,000 | 8.1% |
Industrial land values
Industrial overview
There was a strong increase in land values for industrial land in Byron Bay due to high demand and limited supply.
Strong land value increases were experienced in the Bangalow and Billinudgel industrial estates following high demand for a limited supply of lots, and due to affordable prices compared with Byron Bay industrial estate.
Slight land value increases were experienced in Mullumbimby industrial estate after values increased strongly in 2017.
Typical industrial land values
Address | 01 Jul 2017 | 01 Jul 2018 | % change |
---|---|---|---|
Bonanza Dr, Billinudgel | $340,000 | $410,000 | 20.6% |
Wollongbar St, Byron Bay | $1,050,000 | $1,260,000 | 20.0% |
Rural land values
Rural overview
There was a strong increase in rural land values across the Byron local government area, due to the demand for well-located rural home sites with coastal views, particularly those near amenities and facilities.
Strong macadamia nut prices also contributed to the strength of the market for rural land.
West of Mullumbimby the market was inconsistent with some steeper, timber areas slightly decreasing in value.
Typical rural land values
Address | 01 Jul 2017 | 01 Jul 2018 | % change |
---|---|---|---|
Dudgeons Lane, Bangalow | $1,050,000 | $1,170,000 | 11.4% |
Eureka Rd, Clunes | $1,100,000 | $1,100,000 | 0.0% |
Eureka Rd, Eureka | $30,000 | $40,000 | 33.3% |
Whian Rd, Eureka | $900,000 | $1,000,000 | 11.1% |
Kennedys Lane, Ewingsdale | $1,150,000 | $1,450,000 | 26.1% |
Federal Dr, Federal | $500,000 | $585,000 | 17.0% |
Kings Rd, Federal | $575,000 | $690,000 | 20.0% |
Goonengerry Mill Rd, Goonengerry | $385,000 | $370,000 | -3.9% |
Coopers Lane, Main Arm | $470,000 | $500,000 | 6.4% |
Settlement Rd, Main Arm | $500,000 | $570,000 | 14.0% |
Coolamon Scenic Dr, Mullumbimby | $60,000 | $70,000 | 16.7% |
Dudgeons Rd, Mullumbimby | $1,150,000 | $1,430,000 | 24.4% |
Main Arm Rd, Mullumbimby | $440,000 | $480,000 | 9.1% |
Myocum Rd, Myocum | $570,000 | $685,000 | 20.2% |
Skinners Shoot Rd, Skinners Shoot | $690,000 | $700,000 | 1.5% |
Bangalow Rd, Talofa | $690,000 | $810,000 | 17.4% |
The Old Brunswick Rd, Tyagarah | $67,000 | $74,000 | 10.5% |
Main Arm Rd, Upper Main Arm | $800,000 | $860,000 | 7.5% |
Added value of improvement tables
The added value of improvement tables show dollar values per square metre for the added value of improvements for the main residential property types in a local government area. It is the value the improvements add to the value of the land as demonstrated by the analysis of property sales.