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‘Horrific for the community’: confessions of a real estate agent in priced-out Byron Bay | Travis Lipshus

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When I started working as an agent in Byron Bay in late 2016, the median house price was sitting at around $1.1m and rapidly increasing with the spillover from the Sydney property boom.

Everyone was in awe. Two years before, it had been half that, as regional Australian property values were beginning to recover from the GFC.

From 2016 until last year’s lockdown ended, Byron Bay had averaged 74 home sales annually, and the line on the graphs keeps going up, slowing and ebbing every now and then.

As of August 2021 the median house price is $2.55m, with a 70% increase in a year. If you owned property before this boom, you’ve most likely made more money in the value of your home than you could make in your entire life by saving your money.

There are over 60 agents “specialising” in selling property in the suburb of Byron Bay and there aren’t many properties to sell. As a result, a lot of the agents here hate each other.

Before the pandemic the…

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