Byron Bay

Viewing 7 posts - 1 through 7 (of 7 total)

bubbles1611
Participant
@bubbles1611
Join Date: 2004
Post Count: 10
February 3, 2004 - 4:08 am
Hey,
I am just starting out in property investment and am looking at a couple of places with a friend in Byron Bay. Just wondering what perople think of teh area from an investment point of view???
With teh new highway to brisbane taking less than an hour to commute to brisbane, it is not unreasonable to live in byron and work in brisbane???
What do people think? Any help would be greatly appreciated….
Any other areas should be looking?
Thanks heaps
Tim
HousesOnly
Participant
@housesonly
Join Date: 2003
Post Count: 167
February 3, 2004 - 4:21 am
Tim
Byron Bay has exploded in terms of prices and this makes any form of IP generally very CF -ve (which is not a good thing). Along with this it would seem that prices may have hit their peak and a decent CG in this town may be very hard to achieve in the next 5 years unless you can pick up a property at well below market value somehow!
thefirstbruce
Member
@thefirstbruce
Join Date: 2003
Post Count: 133
February 3, 2004 - 4:56 am
Tim, if you can get from Brisbane CBD to Byron in an hour, you are setting all sorts of records.
I spent a lot of time down there at New Years with local friends. You might find more growth opportunity in Bangalow, Mullum, Brunswick Heads, Pottsville, Bogangar, Kingsliff, Ballina, and Yamba.
But all these prices have boomed too. And you’ll get stuff all yield. These are mainly sea change destinations with little employment opportunity for renters.
Bruce
Mooloolaba, Qld
bluecat
Participant
@bluecat
Join Date: 2004
Post Count: 106
February 3, 2004 - 6:07 am
Hi Tim,
As thefirstbruce says most coastal regions are for retirees or tourists and therefore the rental yeidl would be low – prices have gone up but the rents have not followed as quickly
cheers,
bluecat
Do today what you want to do tomorrow
sunshine
Member
@sunshine
Join Date: 2003
Post Count: 63
February 3, 2004 - 7:52 am
Bubbles – It is an hour 10 mins to Byron from the Gold Coast. Brisbane is another 45 mins from there. Better value elsewhere as above.
hilary
Member
@hilary
Join Date: 2002
Post Count: 146
February 3, 2004 - 9:42 am
We make Brisbane in 2 hrs from Lismore, so 1hr30mins shld be ok.
Since that expressway has opened the increase in accom has been 40% – reported locally – for Byron to Ballina.
Still good rental returns available in Lismore for uni student accom ($80 to $100 per room), but if you want cap gain, then Byron is still gonna make it for you.
elves
Member
@elves
Join Date: 2003
Post Count: 507
February 3, 2004 - 9:50 am
I drive from Sydney to Brisbane every two months, once I was doing this every two weeks- getting too old! and working at a regular job.
My drive with loo and coffee breaks takes 12 hours, I used to do the Syd(well a little west) to Gold coast in 10 hrs. I hated the trip from Woodburn to Coomera, it felt the longest drag of all. But then I have my other hate spots too.
It would never do for me to travel from Byron to Brissie, it seems so alien to me to do that. I rather drive 2 hours from Katoomba to Sydney.
The properties between those places has skyrocketted, so not for me either…
cheers
Elves