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Proptech Carpool – What $1M Gets You In Lennox Head ft. Braden Walters

August 8, 2019
We have Braden Walters from McGrath on today’s Soho Carpool episode. Braden breaks down what kind of home you can get with a million dollars in Lennox Head right now.

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Here’s the transcript of the video:

Let's say I'm looking at I guess investing in Lennox Head.
I’m maybe looking at a sea change.
Is that what you're seeing at the moment?
More guys are looking at a sea change
or what's, I guess the demographics?
Why would people invest in Lennox Head?
Yep, good question as well.
Predominantly our buyers are buyers from
Sydney, Melbourne, Brisbane. And they come to Byron.
They realise Byron's maybe a bit pricier than
what they expected it to be and then sort of
fall into Lennox which is just 10 minutes down the road.
That is like what Byron was 30 years ago.
So it is a small surfing village. Has, you know, has your pubs
and restaurants and cafes and great food, great lifestyle.
It is everything that Byron used to be without all the people
but most of our buyers then come to Lennox and say,
’Ideally we want to move up here in 5-10 years’ or ‘down here in 5-10 years.’
’What do you have? What's a good investment? What's a good location?’
And then they're buying to rent it out
for that short period of time
and then give them time to finish up work.
Finalise wherever they are and make the the sea change.
So yeah.
Is it also that they’re getting a bit more bang for their buck?
You know a million dollars in Sydney Eastern suburbs
might get you a nice one bedroom,
but Lennox Head for a million.
I don't know. What are  you going to get there,?
Yeah, absolutely. For a million bucks
you can get, you know, something that's like
two blocks from the beach in a free-standing house,
you know, you can get newer build you can get established homes.
We really sit well in that market of $750,000-$1million
for something that's pretty much the majority of the market.
So you do get a lot of leftover money.
That's why I think it's quite popular.
And it is a really good hot spot for those people.
Especially those are just potentially still commuting.
Yeah sure.
They’re for 10 minutes from Ballina Byron airport,
which has five flights to Sydney
with Jetstar and Virgin every day.
So yeah, you know, it's so accessible and yeah,
it's such good value.
Soho
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