Entertainment

Byron Bay: The ‘secretly rich’ – not celebrities – are pushing up house prices

Why you shouldn’t blame the Hemsworths for spoiling Byron Bay: Real estate agent says the ‘secretly rich’ are pushing out locals as house and rent prices skyrocket

A Byron Bay real estate agent who has sold homes to the Hemsworths and other celebrities insists Hollywood stars aren’t the ones driving up property prices in the trendy coastal town.

While frustrated locals blame a few high-profile residents for the influx of wannabe models and social media ‘influencers’ to the area in recent years, Peter Yopp of LJ Hooker Byron Bay says it’s not A-listers who are spending the most money.

Mr Yopp told Realestate.com.au the soaring house and rent prices in Byron Bay were actually the result of the ‘secretly rich’ splashing the cash.

Don’t blame Thor: A Byron Bay real estate agent who has sold homes to the Hemsworths and other celebrities insists Hollywood stars aren’t the ones driving up property prices in the trendy coastal town. Pictured: actors Chris Hemsworth and Elsa Pataky at their $20million home in Broken Head, near Byron Bay

‘To be honest, the people with the real money look like they don’t have any money. You wouldn’t even know who they are,’ he said.

Mr Yopp also said sale prices were constantly rising, with new records being set whenever a luxury property changes hands.

‘The latest sale is the new bottom,’ he told the website. ‘As soon as something else comes along, it supersedes it [in price].’ 

Blame game: While frustrated locals blame a few high-profile residents for the influx of wannabe models and 'influencers' to the area in recent years, Peter Yopp of LJ Hooker Byron Bay says it's not A-listers who are spending the most money. Pictured: Chris and Elsa's mansion

Blame game: While frustrated locals blame a few high-profile residents for the influx of wannabe models and ‘influencers’ to the area in recent years, Peter Yopp of LJ Hooker Byron Bay says it’s not A-listers who are spending the most money. Pictured: Chris and Elsa’s mansion

Rich man's playground: Mr Yopp told Realestate.com.au the soaring house prices in Byron Bay were actually the result of the 'secretly rich' splashing the cash. Above: Byron Bay Lighthouse

Rich man’s playground: Mr Yopp told Realestate.com.au the soaring house prices in Byron Bay were actually the result of the ‘secretly rich’ splashing the cash. Above: Byron Bay Lighthouse

According to Domain, the median house price in Byron Bay is now more than $1.44million, which is up 22.8 per cent from last year. 

Meanwhile, rent has ‘jumped by a third in six months’, reports Realestate.com.au.

Notable Byron Bay residents include actor Chris Hemsworth and his wife, Elsa Pataky, who own a $20million ‘mega-mansion’ in Broken Head; model and The Block winner Elyse Knowles, who bought a $2.3million beach house last year; and The Project host Carrie Bickmore, who rents out her $3million holiday home to visitors.

Secretly rich: 'To be honest, the people with the real money look like they don't have any money. You wouldn't even know who they are,' Mr Yopp told Realestate.com.au. Pictured: model, reality TV star and notable Byron Bay resident Elyse Knowles

Secretly rich: ‘To be honest, the people with the real money look like they don’t have any money. You wouldn’t even know who they are,’ Mr Yopp told Realestate.com.au. Pictured: model, reality TV star and notable Byron Bay resident Elyse Knowles

Dream home: The Block's Elyse Knowles and her boyfriend, Josh Barker, bought this 1960s property in the old part of Byron Bay town last year

Dream home: The Block’s Elyse Knowles and her boyfriend, Josh Barker, bought this 1960s property in the old part of Byron Bay town last year

In addition to the famous locals, many Hollywood stars have rented in Byron Bay while visiting Australia, including Zac Efron, Natalie Portman and Mark Wahlberg, who spent his 14-day quarantine at a luxury $2,500-a-night retreat in the area. 

Domain claims that nearby towns like Lennox Head, Suffolk Park, Pottsville and Brunswick Heads have seen an increase in tourism as Byron Bay becomes increasingly pricey.

But even those more humble towns are now seeing property prices increase, with prices in Lennox Head going up 44.7 per cent. Pottsville has a median house price of $780,000, up from $500,000 five years ago. 

Hot market: According to Domain, the median house price in Byron Bay is now more than $1.44million, which is up 22.8 per cent from last year. Pictured: The Project host Carrie Bickmore, who owns a $3million holiday home in Byron Bay

Hot market: According to Domain, the median house price in Byron Bay is now more than $1.44million, which is up 22.8 per cent from last year. Pictured: The Project host Carrie Bickmore, who owns a $3million holiday home in Byron Bay

Slice of paradise: Carrie Bickmore's home in Byron Bay (pictured) was listed on the rental market for $2,200 per week in April last year

Slice of paradise: Carrie Bickmore’s home in Byron Bay (pictured) was listed on the rental market for $2,200 per week in April last year

Advertisement


Source link

Related Articles

Back to top button