Cristiane

I actually watched it.

I'm going to confess that I actually did watch it called Byron Bays, like B-A-E.

It wasn't just the Hemsworth brothers.

I think even Zac Efron was going there.

You know, there was quite a lot of other Hollywood actors that was going there.

And then it became a hype.

And, you know, there was a Netflix series.

There's a lot of Instagram about it, all of that kind of thing.

I don't think that it's exclusive to Byron Bay.

We've seen that happen to other parts of Australia and even other parts of cities and kind of like coastal places around the world.

Social media does definitely play a large issue in this.

The stock in Byron Bay itself is very, very low.

We don't see a lot of new houses, new units being created in Byron Bay.

And so it's seasonal in the sense that when it's popular, we do see a big, massive spike in demand.

And because it's seasonal, developers and even the council can't rely on that demand always being there.

And so they're also quite cautious about then building new products.

in Byron Bay.

So when the demand does spike up, then the supply never catches up.

It's never there.

And so that's why we see these massive spikes in Byron Bay.