Our Backyard

LORNE – HERE AND THERE

The real estate market is such an interesting and diverse market place and can differ so much, even in such a small area and our regions is no different. Take the Melbourne market for instance, only two hours from Lorne, which according to most real estate commentary has been “coming off the boil” over the last 12 months after such an extended high activity period. With Melbourne auction results falling below 60% for the first time in almost a decade, all of a sudden, the focus of activity is shifting to other areas. Take Geelong for example, being half way in between, and still “running” at a far higher pace of activity than an hour further north with auction clearance rates hovering at around 80%. It is a market that is performing as well as any in Australia – and there is Lorne??

LORNE – MARKET ROUND UP

Where does the Lorne property market sit in the big picture is a question asked by many as others have had their own characteristics. We can say with confidence that the local market has performed as well in the past two years as it has in any corresponding period. Of the last 10, its interesting however that when you “cut and dice” the market segments activity has been most prominent under $2 million with the “sweet spot” being any property listing between $850,000 and $1.2 million. Although our “top end” has been quiet, its fair to say that we haven’t had the prestige stock to challenge our top three Lorne residential home prices of $4.8, $4.4 and $3.65 million respectively. This year will be different in that for the first time we will be actively marketing a handful of “Lorne’s best” for in excess of $4 million. Check out this magnificent residence 39 Hall Street, Lorne as one such example.

Been a busy week in Lorne, as the market continues in a similar vein to Geelong. Having completed three negotiations for in excess of a million dollars, the spring market is certainly living up to expectations and as cooling off periods expire we will share further detail with you with a “handful” of new sellers also looking to enter the market, there continues to be opportunity for those in the market place.

LORNE – A LITTLE SECRET

Interesting to note that in Lorne today the Great Ocean Road Task Force headed up by Peter Batchelor and Terry Mulder will hand down their recommendations for the future management of the Great Ocean Road Region which is currently managed by multiple government agencies.

QUOTE OF THE WEEK

“Failure will never overtake me if my determination to succeed is strong enough”.

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