What a difference a year makes……

December 22, 2015

 

In the early months of 2015 the Byron Shire real estate market picked up a tail wind and as we travelled through the seasons of 2015 the wind got stronger and prices of property all across the board strengthened and in some communities like Brunswick Heads and the old part of town in Byron Bay it climbed steeply to finish 2015 with some record breaking sales and a strong momentum to take us into 2016.

Average and median prices have risen strongly in many precincts of the Shire and the raw figures for the total sales volumes look like overall sales have increased this year by more than 20 percent.

In short there has never been a better time to sell and buy a property in this region and after some challenging years 2015 will go down as one of the most exciting years on record.

What has changed in the last year?

Certainly buyer confidence has improved and with record low interest rates and strong feeder markets particularly in Sydney the demand this year particularly for property in the right spots has grown enormously with the rural parts of the Shire being increasingly popular.

Where have our buyers come from during 2015?

Well the overwhelming majority have come from the Northern Rivers area. First National research reveals that more than 2/3rds of all buyers this year were from this part of the world and even more interesting is the fact that very few buyers for real estate in this region came from overseas. Contrary to what many think our region does not have a large number of purchasers from other countries.

Sydney remains the most significant feeder region with around 12% of buyers coming from Sydney this year followed by Melbourne with 6% and Brisbane 5%.

We are proud this year to say that at First National the average days on market for our company are much lower than all our competition and the average price of property we sell is higher.

We also continue to have more property for sale than any other real estate organisation in this region which is good news as this means more buyer enquiry.

From all of us here at First National I want to wish you all a very Merry Christmas and a prosperous and joyous New Year.

We all realise how blessed we are to live and work here and if there is any way we can help you join us and become part of our community then please contact us so we can share our local knowledge and help you buy or sell a property or lease and rent a home.

Cheers

Chris Hanley

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