Byron property leads recovery
BYRON Bay is the star performer when it comes to property prices on the Northern Rivers.
The latest Domain Group quarterly House Price Report reveals the median house price in Byron is $580,000, up 17.3% on the same time last year.
However, unit prices at Byron Bay rose only 2.9% for an average of $465,000.
More broadly, unit prices across the region are powering ahead, up 28.5% in value to an average of $295,000. House prices in the Clarence Valley were steady, averaging $312,500.
In Byron, 246 houses and 69 units sold during the September quarter while 343 houses sold and 41 units changed hands in the same period last year.
The 281 Ballina houses that changed hands during September fetched an average $455,000 and the 75 units on the market had a median price of $350,000. The Ballina average rose 5.8% on last year's prices while units increased 2.9%. The national median house price increased by 1.2%.
Domain Group senior economist Andrew Wilson said Byron Bay and Ballina were coming out of the doldrums.