The recent sale of 57 George Street by our Lorne office has eclipsed the previous record Lorne house price by $1,150,000. This top end sale presents a landmark result for the west coast of Victoria and raised the bench mark for the Lorne top end stock.
3 Old Ocean Road, Separation Creek sold last week and also set up a new record sale price for the township! The market continues to accelerate.
An indicator of a change in our selling environment is when a lot of property that has been “sticking” around for long period of time (e.g. greater than one year), start to sell and at a strong value. For example: 9 Summerhills Avenue and 57 George Street both on for approximately 15 months.
Also when new listings are purchased very quickly (within a month) and sell at asking prices or offers within 2-3% of the asking price.
Thirdly, we are frequently experiencing multiple interest in properties for sale. That is, more than one buyer at a time offering on a particular listing creating a competitive environment and therefore pushing prices higher.
In my opinion, a shift from a balanced market to a “sellers market” is commencing and gathering momentum daily.
Open Houses this weekend
Saturday 27th March
12:00pm – 12:30pm 73 Grant Street, Forrest
12:00pm – 12:45pm 5/3-9 Armytage Street, Lorne
1:00pm – 1:30pm 15 Grant Street, Forrest
1:00pm – 1:45pm 181 Great Ocean Road
2:00pm – 2:30pm 2630 Colac-Forrest Road, Forrest
Sunday 28th March
11:00am – 12:00pm 16 Morley Avenue, Wye River
1:00pm – 1:45pm 14a Charles Street, Lorne
2:00pm – 2:30pm 10-14 Hendy Road, Lorne
Forthcoming Auction
10-14 Hendy Road LORNE Sun 11th of Apr 10 2:00 pm
See you on our Great Ocean Road.
Michael Coutts
michael@greatoceanroadrealestate.com.au
0438 356 624
