Our Backyard – Lorne

LORNE – HERE AND THERE

Seldom will a year deliver “ups and downs” like we experienced in 2019 and a “snap-shot commentary” would go something like – disastrous first half of the year but came home with the “spinnaker flying”, worst transactional January in the history of our company, new record residential home price set for Lorne and holiday accommodation bookings stronger than ever.

Add to the discussion record low interest rates and a change of Government and the answers to puzzle became even more jumbled – What a year it was! Through the ups and downs of external factors there was one common characteristic that continued its upward trend, the popularity and offerings of Lorne.

Whether it be the Lorne’s recent tourism award winners Live-Wire Park and Movida or the ongoing consistency of our restaurants Ipsos, Mestizo, The Pier, The Peak, Mexican, Pizza Pizza and others the culinary selection has never been better. So, one might ask – “why such a turbulent year on the real estate front”?

As the Melbourne Real Estate market began to show strong signs of recovery and so emerged the “ripple effect” that the coast was hoping for. Probably comes as no surprise given that the turnover in the Lorne market is highly attributable to the “big smoke” dwellers only two hours away. In fact, transactionally select Melbourne suburbs have accounted for in excess of 60% of total sale numbers on an annual basis.

We are, and always have been, a lifestyle market where when things are going well everyone wants a piece of the action but when things stall and confidence dented the reverse occurs. There were three “big rocks” that helped create the splash and the “ripples” we are seeing.

The re-election of the Morrison Government and the retention of the existing negative gearing and capital gains tax regimes, the completion of the Banking Royal Commission and three interest rate cuts by the RBA all helped put an end to the market downturn and we are hopeful the ripple will become a wave.

LORNE – MARKET ROUND UP

Christmas and New Year’s celebrations are now well and truly over, the Pier 2 Pub is about to be swam and real estate activity is gathering momentum. In fact, 10 days into January and we have already trebled our sales numbers of January 2019, albeit with the first transactions coming out of that very tightly held little area of Wye and Kennett River. Enquiry in Lorne has gone to new levels of recent days and with buyer interest building and negotiations underway, the first sale in Lorne is imminent! What has been significant interest has been the diverse level of buyer intrigue across all price points.

Of equal interest has been the latest listings to join the prestige portfolio here in Lorne. Having released the homes at 39 Hall Street in the $3.8 to $4.2 million price range and 1223 Great Ocean Road, Big Hill at $4.45 million, we are now also offering 77-79 Smith Street at $5.95 million and have just listed the magnificent residence at 1 Roadknight Street for $6.5 million, featured below. An absolute magnificent portfolio of prestige property!

But don’t let these properties scare you as you can still get into Lorne, on the Lorne Foreshore at Mantra for only $229,000.

Kind regards,                   

Ian Stewart
For and on behalf of the entire Great Ocean Road Real Estate team

OPEN HOUSES

Saturday 11th January
12 – 12:30  27 Hopetoun Terrace, Lorne

Wednesday 15th January
12 – 12:30  27 Hopetoun Terrace, Lorne

LORNE – A LITTLE SECRET

Hard to believe but tomorrow will be the 40th anniversary of what is now the worlds largest open water swim. The Powercor Lorne Pier 2 Pub will see approx. 5,000 swimmers navigate what many will confirm as one of the most picturesque open water swims of the world.

LORNE – QUOTE OF THE WEEK

“Success is not final; failure is not fatal: it is the courage to continue that counts”.

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