Thanks to an ideal seaside location, breathtaking hinterland surrounds, a laid back atmosphere and, no doubt, the presence of local celebrities like Chris Hemsworth, house prices in Byron Bay have soared over the last five years.
From multi-million dollar investments in homes for the likes of Thor to a booming small business scene, the town truly proves that, despite falling house prices in major cities, opportunities abound for savvy investors.
The great news is, you don’t need a celebrity pay packet to get in on the action, nor to experience the same lifestyle benefits. All you need to do, is head 27 kilometres south from Byron Bay to Ballina and the greater Northern Rivers region.
Ballina Lighthouse
Superstar Benefits at a Lower Price Point
In terms of location, Ballina certainly gives Byron Bay a run for its money.
Ballina has experienced rapid growth in recent years, and the flow-on effect from Byron Bay is expected to continue for years to come. According to Residex, the town’s forecast capital growth is 6% p.a. over the next five years. Significant upgrades to transport, medical services, education and retail facilities also mean sustained jobs growth is on the rise.
In terms of location, Ballina’s certainly gives Byron Bay a run for its money, with a sparkling coast surrounded by lakes, estuaries, rainforests and charming small towns that are close enough to drive to for your morning coffee. Not that you need to. It may be famous for prawns, but waterfront restaurants, atmospheric cafes and international cuisine delights locals and tourists alike.
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Like Byron Bay and Noosa, Ballina is free of towering high rises and over-development. However, there’s plenty to do and this, combined with a focus on healthy living, attracts everyone from professionals who run remote businesses, to those looking for a sea and tree change, to tourists from across the globe.
It’s little wonder, with 25 kilometres of cycle paths, bushwalking, river kayaking, The Ballina Historical Waterfront Trail and a yearly calendar of events, right in town. All this, with celebrity-filled Byron Bay just a 30-minute drive away, more affordable investment opportunities and far fewer people to contend with for a spacious spot to yourself on the sand.
source:
- Property market research firm, Propertyology published the most expensive cities by median house price.
