Our Backyard

LORNE – HERE AND THERE

As we continue to dissect our sales figures for Lorne over the financial year ended June 30 just gone, the most interesting indicator to me was the “narrowing” in the gap between Lorne’s average and median house price. The average is self-explanatory to all and for those unsure, the median is the “middle ground”. For example, if there were 100 sales, sale number 50 would be the median. This year in Lorne the median home price was higher than the average home price. In fact, $1,275,000 median as opposed to $1,273,863 average – the first time this has occurred since my statistical recording of the Lorne market commenced in the financial year 1986-87. And for those that are interested, the average house price back then was $123,904 and the median $105,000. My father always said, if you hold an asset for the mid to long term in Lorne, make sure your teeth are white and clean, when asked why, his response was simple “because we’ll always be smiling!”

LORNE – MARKET ROUND UP

A busy week in the Lorne market with our team securing three contracts on residential dwellings through the past seven days with a fourth in the process of going to contract. A diverse range of stock changed hands from the small two bedroom townhouse in Minapre Street selling for just under $590,000 to the large five bedroom home in Wallace Street selling for the full asking price of just under $1.4 million.

The Lorne market continues to produce strong results and with stock levels continuing to dry, the forces of supply and demand are likely to see the strength maintained through the short to medium term.

OPEN HOUSES THIS WEEKEND

Saturday 18th August

12 – 12:30pm  13 Clissold Street, Lorne

Sunday 19th August

12 – 12:30pm  18 Dorman Street, Lorne

LORNE – A LITTLE SECRET

Lorne’s rejuvenated Festival of Performing Arts is set to kick off in a fortnight and already the opening night is a sell out. I have been told that ticket sales across the entire weekend have been strong but there are still spaces at other performances. Go to www.fopa.com.au for full details.

QUOTE FOR THE WEEK

“Pleasure in the job puts perfection in the work!”

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