With Melbourne’s best view in my rear vision mirror from beneath the Australian flag on top of the Westgate Bridge, I pressed the start button on the stop watch of my iphone to time the journey back to the Waurn Ponds round about. I arrived after precisely 51 minutes at the gateway to “Our Backyard”. All of a sudden Torquay, Aireys Inlet, Lorne and Apollo Bay were more accessible than any other time in the past 10 years.
The coastal market is statistically poised to rock the cradle of the coasts sleeping giant. Having seen the market sit relatively idle since late 2003 early 2004 these localised positives are reinforced buy a couple of external factors.
- Melbourne house prices have led the country with capital appreciation at 11.2% year to date allowing our visitors the opportunity to release some of this equity to help secure the coastal dream.
- Historically the coastal market has been 6-12 months behind the trend of the Melbourne market.
- Even with a recent 25 basis point rise, interest rates are still low and affordable for those with secure cash flow.
