Record Sales

The recent sale of 57 George Street by our Lorne office has eclipsed the previous record Lorne house price by $1,150,000. This top end sale presents a landmark result for the west coast of Victoria and raised the bench mark for the Lorne top end stock.

3 Old Ocean Road, Separation Creek sold last week and also set up a new record sale price for the township! The market continues to accelerate.

An indicator of a change in our selling environment is when a lot of property that has been “sticking” around for long period of time (e.g. greater than one year), start to sell and at a strong value. For example: 9 Summerhills Avenue and 57 George Street both on for approximately 15 months.

Also when new listings are purchased very quickly (within a month) and sell at asking prices or offers within 2-3% of the asking price.

Thirdly, we are frequently experiencing multiple interest in properties for sale. That is, more than one buyer at a time offering on a particular listing creating a competitive environment and therefore pushing prices higher.

In my opinion, a shift from a balanced market to a “sellers market” is commencing and gathering momentum daily.

Open Houses this weekend

Saturday 27th March
12:00pm – 12:30pm 73 Grant Street, Forrest
12:00pm – 12:45pm 5/3-9 Armytage Street, Lorne
1:00pm – 1:30pm 15 Grant Street, Forrest
1:00pm – 1:45pm 181 Great Ocean Road
2:00pm – 2:30pm 2630 Colac-Forrest Road, Forrest

Sunday 28th March
11:00am – 12:00pm 16 Morley Avenue, Wye River
1:00pm – 1:45pm 14a Charles Street, Lorne
2:00pm – 2:30pm 10-14 Hendy Road, Lorne

Forthcoming Auction

10-14 Hendy Road LORNE Sun 11th of Apr 10 2:00 pm

See you on our Great Ocean Road.

Michael
Michael Coutts
michael@greatoceanroadrealestate.com.au
0438 356 624

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