Our Backyard – Lorne

‘Lorne – Market Round up’. I read with great interest a recent R.P data report on where the largest declines in residential property values have been experienced and where the largest capital gains have been recorded across the country.

It comes as no surprise that R.P data have reported that the largest corrections have clearly been recorded across the coastal and lifestyle markets, more particularly the largest declines are most concentrated across unit dwellings within these regions.

According to this same report units in the Barwon region (including Surfcoast) suffered the third largest correction in the country with an 18.6% correction recorded.

These numbers are in line with our local research but in the closing comments of this report “For those individuals who have aspired to own a holiday home or relocate to one of these lifestyle markets, the buying opportunities are now looking much more affordable than they were back in 2007”. In other words there is no better time to buy than now.

‘Lorne – Weekly report’. After a very strong start to winter and an unseasonably high number of transactions for the first half of June the past week has been as quiet as any of recent times with only one contracted deal, subject to a cooling off period. The positive is that with a couple of good negotiations underway the opportunity still exists to cap off a great month of June. Again the common denominator among all has been the evidence of market correction in line with the R.P data report.

The Lorne Dolphins had a great 100+ point win over Irrewarra Beeac last weekend and at home again on Saturday when they tackle the vastly improved Otway Districts football and netball club. All teams are well positioned and the stand outs are the U/15 netballers, consisting of almost all of their U/13 premiership side from last year, who remain undefeated.

If you have a chance get up to the ground and support the Dolphins.

Open Houses

Sunday 23rd
12.00 – 12.30 50B Smith Street Lorne

‘Lorne – You must have a look at this’. Allow me to let you in on a little secret about a fantastic three level architect designed town house about to be offered informally to the market. Positioned in one of Lorne’s most prestige blue chip residential locations and being only one of four on the site this quality product is not likely to be around for long. For a sneak preview give one of us a call to get the low down.

‘Lorne – Great Local Slang’. Where the crows fly backwards – “Remote outback – strange place”

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See you in Our Backyard
Ian Stewart
0418 522 571

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