Another solid week of transactions out of the Lorne branch.

17 Summerhills Ave, 1/21 Smith St, 1 Doble St, and 215 Aireys Inlet Rd, Bambra were contracted unconditionally. “Waverley House”, Lorne and 63 Morley Ave, Wye River are also contracted subject to conditions.

We are experiencing a very positive vibe to the “general coastal market” with our buyers motivated by a “leisure purchase” not necessary annual return on their investment. Historically owners who hold for medium to long term have enjoyed not only many memorable family holidays but sensational capital growth.

Open Houses this weekend

Saturday 6th March
11:00am – 11:45am 3 Bay Street
12:00pm – 12:30pm 73 Grant Street, Forrest
12:00pm – 12:45pm 5/3-9 Armytage Street
12:00pm – 1:00pm 16 Morley Avenue, Wye River
1:00pm – 1:45pm 181 Great Ocean Road
1:00pm – 1:30pm 15 Grant Street, Forrest
2:00pm – 2:45pm 2/21 Smith Street

Sunday 27th February
12:00pm – 1:00pm 16 Morley Avenue, Wye River
1:00pm – 1:45pm 14a Charles Street

See you over the Labour Day long weekend.

Michael Coutts
michael@greatoceanroadrealestate.com.au
0438 356 624

Steve Ryan Photography

For those that have followed the development of Erskine House “Mantra” over the past 9 years, you may have noticed the volatility of the movements of the apartments. 2001 – 2002 saw an absolute “feeding frenzy” of buyers basically purchasing the entire complex (360 apartments) over the time frame of a year.

As the market turned by early 2004 and plateaued for the last 6 years, pre-sales have been extremely difficult to negotiate.

The trend has changed! 5 transactions have taken place this month and 11 since December. Simply put there is some unprecedented buying opportunity in this development and provides “would be buyers” to enter the Lorne market at atypical price points compared to residential property.

Please be aware the levels of return per annum are negligible and capital growth over the past 9 years has been negative. This is a lifestyle purchase not an investment decision. This position is brilliant and the facilities are unique to the area. At the current asking price for a large sample of apartment sizes (studio, 1 bedroom, 2 bedroom), it presents as a great opportunity to gain a foot hold in the “blue chip Lorne Market”.

Email tyrone@greatoceanroadrealestate.com.au for further details or call on (03) 5289 4222.

3 properties also changed hands in Wye / Kennett this month, 1 in the rural area and 2 in Lorne. The strong market fuelled by positive Melbourne buying enquiry continues to strengthen our coastal market.

Please call or email me for further information.

Open Houses this weekend

Saturday 20th February
12:00pm – 12:45pm 5/3-9 Armytage Street
1:00pm – 1:30pm 14a Charles Street
1:00pm – 1:45pm 181 Great Ocean Road
2:00pm – 2:45pm 1/21 Smith Street

Sunday 21st February
1:00pm – 1:45pm 63 Ocean Road

Michael Coutts
michael@greatoceanroadrealestate.com.au
0438 356 624

Steve Ryan Photography

An extremely strong month of business for the Lorne branch. In terms of volume of transactions it’s been easily the best month since the early 2000’s (2000 – 2003). Property at each price spectrum is selling at full prices and on occasions competition drove the eventual contract price over the original asking price. E.g. 55 Hall Street and 56 Dorman Street.

We continue to appraise property and look to present fresh listings to the market over the next few weeks.

Keep in close contact with our selling agents and email or call me should you seek a more detailed Lorne market report.

Open Houses this weekend

Saturday 30th January
12:00pm – 12:30pm 73 Grant Street, Forrest
12:00pm – 12:45pm 16/3-9 Armytage Street
1:00pm – 1:45pm 181 Great Ocean Road
2:00pm – 2:45pm 2/21 Smith Street

Sunday 31st January
12:00pm – 12:30pm 34/2-10 Ocean Road
2:00pm – 2:30pm 3/17 Smith Street

Michael Coutts
michael@greatoceanroadrealestate.com.au
0438 356 624

Steve Ryan Photography

A predictable strong market for the first 14 days of January! Out of the Lorne branch seven Lorne township sales have been contracted with a massive price range e.g. $165,000 (vacant land) to $1,500,000 (house sale). Two further sales in Kennett River, one in Wye River and two in the rural areas took place. In total 12 completed transactions with a further six other properties under negotiation. Very encouraging, as historically the last two weeks of January are usually our busiest selling fortnight for the entire year.

The accommodation centre had a massive fortnight and was 98% occupied of the 200 lettable properties in Lorne. We are tracking at 70% for the next two weeks, so feel free to book online as there is plenty of available accommodation. Some properties can be booked for short stays now (3 – 5 days). www.greatoceanroadholidays.com.au

Feel free to call the office or email me should you require any further explanation of the above commentary or assistance with any local real estate matters.

Open Houses this weekend

Saturday 16th January
12:00pm – 1:00pm 3 Bay Street
12:00pm – 12:45pm 16/3-9 Armytage Street
12:00pm – 12:45pm 6/3-9 Armytage Street
12:00pm – 12:30pm 73 Grant Street, Forrest
1:00pm – 1:45pm 181 Great Ocean Road
1:00pm – 1:45pm 63 Ocean Road
2:00pm – 2:30pm 2/21 Smith Street

Sunday 17th January
12:00pm – 12:30pm 34/2-10 Ocean Road
12:00pm – 1:00pm 3 Bay Street
1:00pm – 1:45pm 63 Ocean Road

Monday 18th January
12:00pm – 1:00pm 3 Bay Street

Tuesday 19th January
12:00pm – 1:00pm 3 Bay Street

Wednesday 20th January
12:00pm – 1:00pm 3 Bay Street

See you on our coast.

Michael Coutts
0438 356 624
michael@greatoceanroadrealestate.com.au

Steve Ryan Photography

Happy New Year to all from Great Ocean Road Real Estate Lorne.

May this New Year 2010 bring you joy, happiness, warmth and laughter.

Open Houses this weekend

Saturday 2nd January
12:00pm – 1:00pm 3 Bay Street
12:00pm – 12:45pm 16/3-9 Armytage Street
12:00pm – 12:45pm 6/3-9 Armytage Street
1:00pm – 1:45pm 181 Great Ocean Road
2:00pm – 2:45pm 2/21 Smith Street

Sunday 3rd January
12:00pm – 12:30pm 34/2-10 Ocean Road
12:00pm – 1:00pm 3 Bay Street
1:00pm – 1:30pm 14a Charles Street

Monday 4th January
12:00pm – 1:00pm 3 Bay Street

Tuesday 5th January
12:00pm – 1:00pm 3 Bay Street

Wednesday 6th January
12:00pm – 1:00pm 3 Bay Street

We hope to see you there.

Kind regards,

Michael Coutts
michael@greatoceanroadrealestate.com.au
0438 356 624