Buy & Hold

2/60 Lawson Street, Byron Bay

by Dean Berman

Why do some properties grow more than others?

This unit located at 2/60 Lawson St, Byron Bay helps us understand why this may happen.

The property has 3 bedrooms, 2 bathrooms and one undercover car space and was marketed by Michael Gudgeon and Matthew McCormack of Ray White. They sold it in 5 days!

Experiencing $300,000 growth or a 30% return in 2 years is no mean feat!

The first reason is clearly the area. According to SQM Research Byron Bay has been experiencing fantastic capital growth topping 38% for units over the last 3 years.

For those that have visited Byron before, Lawson street is a premiere location and offers a short walk to Clarke’s Beach, cafes and shops.

Secondly the property seems to have undergone a minor cosmetic renovation which from the images include flooring, updating cabinetry in the kitchen, re-positioning the oven and new kitchen benchtop.

The owners haven’t spent a fortune on these updates, but the investment they put in has given them a more updated fresh looking property.

The third and most interesting point is simple styling. Can you see the difference in colours between the current photos and the original photos?

Which one would you prefer to own?

Current Condition Bedroom
Current Condition Bedroom and Ensuite
Current Condition Bedroom
Current Condition Bedroom
Current Condition Courtyard
Current Aerial Photo
Original Condition
Original Condition Dining Area
Original Condition Kitchen
Original Condition Bedroom
Original Condition Bedroom