Our Backyard – Lorne

LORNE – HERE AND THERE

There has been so much happening in Lorne over recent years and the upcoming projects are set to even further enhance the experiences we offer for both locals and tourists alike. Whether it be the Point Grey Precinct, the pending works at the Stribling Reserve Oval, the pending new surface at the Bowling Club or the emergence of Live Wire Park. We are so fortunate to have a community that are always looking to strive for the best. There is another project emerging that is set to add another experience that will rank with any in the world. I am sure most of you have heard of the Surfcoast Walk from Torquay to Fairhaven and the Great Ocean Road Walk from Apollo Bay and beyond and the smaller trails in between. Well excitingly there is currently a Department of Environment, Land, Water and Planning Study underway assessing and planning a proposal to create the “missing link” – Fairhaven to Skenes Creek. The study is focussing on the 60 kilometres of spectacular coastline that will connect both existing trails and open the opportunity to complete what would be one of the most spectacular walking trails in the world. To be part of the consultation process or just to keep up with what is going on, go to www.engage.vic.gov.au/trail-study

LORNE – MARKET ROUND UP

I mentioned a fortnight ago that I would look to share with you our findings from the year in local real estate for the financial year ended June 30. Most of which will come as no surprise as most will realise that the second half of the financial year, January 1 to June 30, saw a turnover as low as any time of the past decade. In fact, our detailed analysis revealed that there were only 61 property transactions among all agencies that work the Lorne market. We were fortunate enough to complete 51 of these across the combined efforts of our team. While sales numbers were abnormally low with more than half of these transactions under $1 million, the absolute stand out was the new residential house price record in excess of $4.9 million, eclipsing the previous record of $4.8 million.

While sale numbers have been very disappointing, prices have remained relatively stable as stock levels have been as low as any time of recent periods.

We have started the new financial year in fine form with the sale of 13 Hazel Street at the full asking price of $2.2 million and a second million dollar plus transaction in the wings pending formal finance approval. Fingers crossed that these early signs might be laying a solid foundation for the months ahead – fingers crossed!

LORNE – A LITTLE SECRET

Probably doesn’t come as a surprise to many, the total number of transactions in the Lorne market for the twelve months ended June 30 was the lowest in almost a decade.

LORNE – QUOTE OF THE WEEK

“I’d rather regret the things I’ve done, than regret the things I haven’t done.”

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