Byron property: two $14 million sales, almost nothing below $1 million

Locals and high-flyers have been in the mix of buyers for sought-after lifestyle blocks on the Northern Rivers.

Ray White Byron Bay marketed 292 Coolamon Scenic Drive in Coorabell, which sold for $14 million in March, 2021.

Two recent property sales have hit the $14 million mark in the Byron hinterland.

A quarterly market report from Ray White Byron Bay, distributed to hinterland residents and detailing the hinterland's most recent sales across different agencies, has listed 35 recent sales.

The only property to sell for under $1 million was in Main Arm, and went for $940,000.

The most expensive properties on the list were on the same road in Coorabell, going for $14 million (23 hectares) and $14.1 million (24 hectares), both selling in March.

According to realestate.com.au, the latter of those - at 895 Coolamon Scenic Drive - sold for $6.2 million in July, 2018 although it is understood there was significant work on the property in the interim.

Ray White Byron Bay marketed 292 Coolamon Scenic Drive in Coorabell, which sold for $14 million in March, 2021.

 

The $14 million home, at 292 Coolamon Scenic Drive, had sold for $2.3 million in 2004.

A 4 hectare property in Ewingsdale meanwhile went for $8.45 million on March 30.

Most of the properties on the list - which spans January to March sales - went for more than $2 million, with five of those above the $5 million mark.

Ray White real estate agent Michael Gudgeon said one recent hinterland lifestyle listing attracted about 330 email inquiries, 100 phone calls and 76 physical inspections.

Mr Gudgeon said he was experiencing the highest ever interactions in listings in his two decades working in real estate in the area.

895 Coolamon Scenic Drive, Coorabell sold for $14.1 million in March, 2021. It was marketed by Ray White Byron Bay. These photos were taken prior to its 2018 sale, when it went for just $6.2 million.

 

He said it was still very much a seller's market, with far more interested buyers than property listings.
"There's been a huge shift … to the hinterland lifestyle properties," he said.

"And that be anything from a couple of acres up to 100 acres."

He said the main focus for buyers moving from more built-up areas, be that a nearby town or a major city, was the prospect of having privacy and no close neighbours.

He said not all recent major sales had been tree-changers from the city, although there has been strong interest from Sydney and Melbourne in particular.

"There's been some locals buying back in," he said.

895 Coolamon Scenic Drive, Coorabell prior to its earlier sale in 2018.

 

Although celebrities are nothing new for the Byron Shire, these soaring prices are seeing agencies work with more high-profile and high net value buyers.

"We've had some dealings with some pretty high profile actors and musicians and comedians," Mr Gudgeon said.

"I think most of those sort of people are fairly normal and straightforward.

"They didn't get where they are (by being) hard to deal with.

"They don't rub their fame in your face."

He believes the culture of the area is a big drawcard for these high flyers.

"It's gorgeous and people like to have a whinge about Byron Bay … I suggest they take their shoes off and go for a walk down the beach and watch the sun set."

According to the Ray White report, 87 homes sold in the Byron hinterland in the past four months.

It said the median sale price in the past six months was $2.3 million and the most sales had been on Fowlers Lane in Bangalow.

Originally published as Byron property: two $14 million sales, almost nothing below $1 million