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The Guardian - AU
The Guardian - AU
National
Mostafa Rachwani

Regional Australia property market dips as prestige areas give up pandemic gains

Australia Pandemic Byron Bay Cameron Kusher Covid-19 PropTrack Sydney
View of Byron Bay, with trees, rooftops, trees and the distant ocean and hills under a cloudy sky
‘Premium lifestyle markets’ like Byron Bay have proved sensitive to softer market conditions and rate rises, property market observers say. Photograph: lynnebeclu/Getty Images/iStockphoto

Regional Australia’s housing market has taken another hit with prestige areas such as Byron Bay continuing to reverse pandemic gains.

Richmond-Tweed (-24.2%), the southern highlands and Shoalhaven (-16.0%) and Illawarra (-13.7%) in New South Wales recorded the largest annual declines in house values.

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