“Crazy levels of inquiries” as cashed-up residents move from Byron Bay to Ballina Shire

A home at Ballina sold for $560,000 above reserve last week.

This home in The Serpentine, Ballina, sold for more than $2.5M on May 15.

The North Coast property market continues to heat up, with sellers in the Ballina area benefitting from record prices in Byron Bay forcing some buyers to look south.

In Ballina, a home at The Serpentine sold by McGrath Real Estate sold for $560,000 above reserve price.

The five-bedroom 691 sqm home sold for more than $2.5 million on May 15.

In East Ballina, a three bedroom home in Dobie Place sold for more than a million dollars, reaching a figure $60,000 above reserve.

Another area that has seen sustained growth was the coastal villages.

Earlier this week, Clarence Property Group confirmed a 4.17 hectare site, located within the Epiq Lennox Head precinct, was for sale.

Also in Lennox Head, Elders has been receiving ongoing inquiries about a 22-acre Condon Hill property that went on the market this week for the first time in 57 years.

Along the coast at Skennars Head, Aureus village recorded an unconditional sale of more than $1 million on a 550 sqm block of land, with the project’s new beachfront townhomes expected to go on the market soon.

Aureus is a new beachfront village in Skennars Head.

Intrapac Property has released four sold-out Aureus stages with 178 lots since October 2018.

According to Intrapac, early purchasers at Aureus benefited from capital growth — 450 sqm lots in the first release sold for $435,000, and now a 550 sqm lot breached the $1 million mark.

This capital growth has also been reflected in the established residential housing stock.

Sam Tancred, Sales Manager at Lennox Property Agents said his team has been busy, fielding “crazy levels of inquiries”, and could hardly believe the rate of growth in local property values.

“A high percentage of the demand is locally driven,” he said.

“Many in the immediate area are selling up and taking advantage of property prices to buy into Aureus and build their dream home.

“There’s also an influx of people cashing out of Byron Bay.

“Throw in city folk looking for a sea-change and it’s a perfect storm for local property prices.”

Aureus resident Paul Weston purchased a lot in the first land release at Aureus.

“It is located in the best spot in Skennars Head due to its proximity to the beach. I can’t wait to enjoy a view of the ocean from bed!” he said.