Michael Coutts

Extremely strong activity in recent weeks has agents talking about the ‘good old days’.

Just this week our agency has received offers from three parties on the one property which has only been on the market for around a week. The end result to the vendor being a sale well above the asking price. Clear evidence of the strength of the market.

In another case this week, we have sold a 1.5 acre block within 1% of the asking price before the property reached the market, after being sold off our database to an interested party.

All this is more evidence of the bounce-back our market is experiencing. Limited stock will be our problem over the coming weeks as we try and keep up with almost frantic buyer demand.

With buyer confidence on the way back up and a track record of high end transactions our agency offers the top end of the market, unsurpassed service and recorded achievements. Listed below are the top 5 record sales of each town along the coast:
APOLLO BAY
1. $2.85M – Wongarra
2. $2.4M – Moonlight Head
3. $2.2M – Marengo
4. $1.8M – Skenes Creek
5. $1.145M – Marengo
LORNE
1. $3.65M – Smith Street
2. $2.9M – Mountjoy Parade
3. $2.86M – Ocean Road South
4. $2M – Mountjoy Parade
5. $1.95M – Hall Street
AIREYS INLET
1. $2.67M – Banool Road, Fairhaven
2. $2.1M – Banool Road, Fairhaven
3. $1.9M – Great Ocean Road, Eastern View
4. $1.7M – Banool Road, Fairhaven
5. $1.45M – Great Ocean Road, Eastern View

The key to the agency’s success is that we get inside the heart of the owner as to why they love their properties and where their favourite spots are. Also, having a long and established reputation and links with the right connections, clubs and associations and our ongoing support of charity, leaves us with the right people and connections to place the property to the market through a long relationship building foundation.

Steve Ryan Photography

Michael Coutts

You should see the amazing Lorne Sculpture Exhibition on the Lorne foreshore and coastal walk! The exhibit runs from Saturday 17th October through to Sunday 8th November and well worth the trip to see for your self. We are proud to be sponsoring such fantastic event.

The sculptures are large scale and from a variety of prominent artists and emerging talents. For those of you that have personally met me over the past eight years you are probably having a chuckle to yourself, thinking what would Michael know about art? The biggest challenge I had last night was stopping Charlie, my Jack Russell Terrier “marking his territory” along the sculpture route.

On the real estate front and specifically in Lorne, two full price transactions and a third sale that was within 1% of the asking price were achieved this week by our sales team.

The seasonal buyer demand from October through to April is emerging as is the positive commentary in the media about an overall improving real estate market. The evidence is mounting!

For any real estate needs please contact myself on michael@greatoceanroadrealestate.com.au

Steve Ryan Photography

The siren of the AFL Grand Final sends a significant message to the coast.

* The 2009 AFL premiership cup again sits proudly in Geelong.
* The third term school holidays vacating are almost complete.
* Visitations and focus of local owners, absentee owners, would-be owners and visitors alike is again re-aligned to “our backyard”.

Many coastal traders report that their businesses are re-born with the seasonal return of Great Ocean Road Holiday coastal lovers. Expectations of record numbers are buoyant as the Geelong bypass puts a new definition of travel time and stress free motoring to coastal havens of Torquay, Anglesea, Aireys Inlet, Lorne and Apollo Bay. A trend that is also being reinforced by the coastal portals of our accommodation businesses.

What about real estate and coastal property values many will ask?

According to rpdata.com.au (ASX: RPX) property database, which is Australia’s largest and includes over 170,000 sales during the first eight months of 2009, home values in Australia rose by an exceptional 1.9 per cent during the month of August. This brings cumulative capital growth in the first eight months of 2009 to a better than expected 7.9 per cent. Leading the recovery through 2009 has been Melbourne with 11.6 per cent capital gain year to date in 2009.

From an interested observers perspective this increased market activity is another great sign for “our backyard”. Historically the coastal market has followed the trend of the “big smoke” albeit with a time delay of approximately 6 months prior to our seasonal cycle.

On average across our core business regions 57.7% of homes are owned by absentee property owners (i.e. second home owners).

Torquay 32.16%

Aireys Inlet 68.29%

Lorne 72.5%

Apollo Bay 57.72%

With our Melbourne Metropolitan and country visitors set to revisit there are a number of positives that reinforce our optimism for the coming year.

1. The brilliant Geelong bypass.
2. The added equity that many Melbourne Metropolitan property owners have build in their home.
3. Affordable interest rates for those who have income and cash flow security.
4. Numerous local projects and initiatives across the Surfcoast and Colac Otway Shire.

In summary there appears no better time to be entering or upgrading in our exciting coastal market.

Steve Ryan Photography