Our Backyard – Aireys Inlet

Today is the 14th of February, which as most of you should know is also Valentine’s Day.

Valentine’s Day, also called Saint Valentine’s Day, originated as a Christian feast day honouring one or two early saints named Valentinus. Valentine’s Day is recognised as a significant cultural, religious, and commercial celebration of romance and romantic love in many regions around the world. 

For those of you who have had your heads buried in the sand this morning, it’s not too late to quickly organise some flowers for that special someone in your life.

Regular observers of real estate will be aware over the past couple of years, of the inclusion on all real estate website portals of Statement of Information forms. These were brought in to help educate purchasers on the state of the market and values in general. These are also a requirement under Section 47AF of the Estate Agents Act 1980, and they include information relating to comparable sales in the area as well as requiring the median prices to be included.

Agents can gather the median prices from different sources but we have always chosen to use www.realestate.com.au  (Australia’s largest real estate website) for this. To register a median price, there needs to be at least ten sales in the past twelve months recorded on their site. I noticed this week that there was only twelve house sales in the past twelve months in Aireys Inlet recorded on www.realestate.com.au. Anglesea, as a comparison, is only ten minutes to the north and recorded 73 house sales!

To say that the Aireys Inlet market is tightly held is certainly an understatement. For those who already own a property in the area, this is great news. For those looking to break into the market, not so good news. Please note that there is quite a bit of off market activity, so if you are genuinely looking to buy in the area, it doesn’t hurt to contact your agent to find out what is for sale off market, as clearly if you are only watching the websites you could be waiting for a while!

James Worssam
0418 585 815

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