Our Backyard Lorne

General – Market Roundup.

The big news of the week has been the Reserve Bank and their decision to keep interest rates at 2.5% for the 14th consecutive month, being the longest rate hold in more than 10 years. In a statement, RBA Governor Glenn Stevens said the Bank expected growth to be a little below trend for the next several quarters.

Furthermore Westpac Chief Economist Bill Evans has made the bold statement that interest rates are likely to stay at the current rate for the next twelve months.

Lorne – Market Roundup.

October has seen a strong start to the coastal property market and it appears the confidence in the Melbourne residential market is gradually making its way south. Our Anglesea office has contracted 5 deals over the past ten days and with another three under negotiation the migration of interest is building.

Last weekend signified one of the busiest weekends for real estate in Lorne for a number of months, but predictably so as the town kicks up a notch following the AFL Grand Final. On Saturday an apartment in the Cumberland Resort was auctioned and passed in on a vendor bid and sold immediately thereafter.

As a follow on, a couple who were holidaying at the Resort, and first time property lookers were then directed by our team to the well-priced townhouse at 4/9 Albert Street. By the end of the following day there was a contract on the property and another sale had been concluded. And to cap it off there were another three negotiations that were getting close to conclusion – I will have the update next week!

Open Houses
Saturday 11th
12.00 – 12.30 1/48 Polwarth Road Lorne
Sunday 12th
12.00 – 12.30 25/22-28 mountjoy Parade Lorne

‘Lorne – You must have a look at this’. 27 Summerhills Avenue VIEW WITH THE WOW FACTOR!

Enter this large architect designed 13 year old contemporary residence and be prepared to be knocked out by the amazing view. There is plenty of space including 2 living areas, 4 bedrooms, 3 bathrooms, separate laundry and powder room. The 2 master bedrooms, both with designer ensuites and floor to ceiling glass exposing the dramatic view of Loutitt bay and the Lorne township, are a special feature of this property.
Both living areas on separate levels and the dining area have amazing views and flow on to outdoor decks.
Quality throughout including stone bench tops, polished timber floors, Miele appliances, reverse cycle heating/cooling plus open fireplace adding to the ambience.
Easy vehicle access with double carport and storage.

Lorne – “Great Local Slang”. ‘All change is hard at first, messy in the middle and gorgeous at the end’

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See you in Our Backyard

Ian Stewart
0418 522 571

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