Record-breaking $22.5m Byron sale bucks housing market trend

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Record-breaking $22.5m Byron sale bucks housing market trend
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This Byron Bay home broke records over the weekend, selling for more than $22 million 😲 One of only 12 houses on the cul-de-sac fronting Wategos Beach, the property was last sold in 1997 for $1.225 million. Read more 👉

Domain

The Smalls’ house sale was closely observed by property watchers as a test of how the local prestige market would fare in the face of subdued growth on the North Coast last year. Phillips was quietly offering it to buyers late last year, with his Sydney-based brother Alexander Phillips on the listing, but it formally hit the market in January.

Values soared in the regional holiday hot spot after the pandemic hit in 2020 recording double-digit gains that out-paced even Sydney’s market boom, and the median house price in Byron has soared 61.6 per cent over the past five years.The three-bedroom house sits on a land size of 790 square metres.However, Domain figures show the North Coast’s broader housing market took a downwards turn last year. The median house price in Byron Bay now sits at $2.08 million, having fallen 17.

There are 12 houses that front Wategos Beach on Marine Parade, one of which was sold by John and Ilone Small .

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