What $700,000 can buy in Byron Bay: HTW residential
The recent relaxation of travel restrictions and gatherings in public has given the Byron Shire a much-needed confidence boost, according to a recent Herron Todd White (HTW) residential report.
The valuation firm took a look at how a budget of $700,000 could be invested in property markets across the nation.
The HTW report suggests although any tangible improvement in the local economy is yet to be realised in the property market, local agents remain optimistic about the long term growth of the property market in Byron Bay and surrounds and this leads us to consider where it is possible to park $700,000 on a property in the Byron Shire at present.
"If Byron Bay is your cup of tea, then count out the $700,000, raid the kids’ piggy banks and check under the couch for any loose change, because you are going to need it," the valuation firm said.
Whilst it is not quite that bad, the options are pretty restricted within Byron Bay proper.
Most properties start at prices well above $700,000 but if that is the limit of your budget, it is still possible to pick up an early 1990’s three- bedroom townhouse on the north-west edge of town in the $650,000 to $700,000 price range.
However, instead of a gentle stroll to the beach with a towel draped over your shoulder, it will be necessary to purchase a bike and ride the ten minutes to the beach instead, the report noted.
"Looking elsewhere in the shire, the pickings become a little easier at Ocean Shores which offers reasonable proximity to beaches, albeit of a less well regarded standard than the acclaimed beaches of Byron Bay.
"Nevertheless, it is possible to find a wider choice of property in Ocean Shores that includes a sprinkling of detached, older style houses and relatively modern townhouses and villas," the valuation firm said.
A retro family home in Ocean Shores has recently been sold for $700,000.
The three bedroom, one bathroom house is situated at 2 Binya Place (pictured below).
Set on a 702sqm block, the single level home is just 200m from a Waterlily park with tennis court and children's play quipment/
Further afield, Mullumbimby offers a small opportunity to find an older style cottage but with the proviso that additional funds would be required to carry out update works as $700,000 will only buy the most basic standard of house.
A current listing is a three bedroom house in Mullumbimby priced at $557,000.
The 10 King Street home (pictured below) come with open plan living, dining and kitchen, three bedrooms and easy care lawns.
It is located within walking distance to the town centre.
"If land banking is more your cup of tea, it is still possible to find the odd block of land in the outer areas of Mullumbimby in the price range of $450,000 to $500,000," the valuation firm said.
