Our Backyard

Lorne – Market Round up

Last week I was fortunate enough to be able to attend the Victorian Real Estate Institute annual conference and with just over 1,000 delegates in attendance it was a great opportunity to get a state-wide perspective of the market. What was very interesting to me being what I was hearing was so similar to the coast in that volumes of transactions have increased marginally, but without any real upward movement in price. In fact to the contrary, where volumes of transactions were being stimulated by a realignment of Vendor expectations and competition slowly returning on the back of what I will call the “Big Three”. 1. The completion of the Federal Election and Government firmly entrenched for the next three years. 2. The Melbourne residential auction market enjoying clearance rates of between 75 and 85% over the last six months. 3. Interest staying steady with the Reserve Bank cash rate still at 2.5% and our banks starting to “loosen up” and lend a little more freely.

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Lorne – Weekly report

As Lorne’s Super September comes to an end the first month of spring has produced a noticeable upturn in buyers looking for a lifestyle asset, albeit the past seven days have failed to deliver a Lorne sale. We do however have a couple of good negotiations in process and I am confident that this time next week I will be able to report further. There is a definite increase in discussions with prospective property sellers and with some good quality well priced stock coming our way, the signs certainly continue to look more positive than the corresponding period last year. For those that are not aware make sure you download and save to your phone our latest mobile website http://m.lornerealestate.com.au This powerful little site puts all our coastal real estate and holiday properties right in the palm of your hand, and allows you to get full detail of everything whether if be for sale, for rent or holiday accommodation. It’s easy, so do it now!

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Open houses

Saturday 21st
1.00pm – 1.30pm    50B Smith Street

Sunday 22nd
12:00pm – 12:30pm     52A Dorman Street

Lorne – No better place in the world

Lorne Pier at dawn

Lorne – You must have a look at this!

Not often do you get the chance to secure an opportunity in one of Lorne’s most exclusive Cul-de-Sac locations. Well this could be it and at under $1 million the three bedroom home with a cracking north facing outlook will probably not even “make it to the market”. Give any of our team a call to find out more.

Lorne – Great Local Slang

About as useful as an ashtray on a motorbike!

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Free! – Daily reports from Lorne and you can take your pick as to whether you want to stay up to date with the latest coastal real estate news or just the “goss” on what’s happening in and around Lorne. Follow me which ever way you like.

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See you in Our Backyard,  

Ian Stewart
0418 522 571

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