31st January 2014
Lorne – Market Round Up
According to R. P. Data’s Robert Larocca, Melbourne renters have seen only moderate rises in rents over the past year, especially when compared to Sydney. At the same time investors have seen static yields but potentially benefited from improved capital growth.
Over the past year the median rent for a house in Melbourne has risen by $10 and by $8 for units. Currently the median rent for a house is $437 per week and $389 for a unit.
Over the past two years, yields have not changed substantially for houses in Melbourne with a change from 3.5 percent to 3.4 percent recorded. Units, which have a higher yield, have recorded a similar change, from 4.3 percent to 4.2 percent.
Lorne – Weekly Report
The Australia Day weekend historically signals the end of school holidays and more often than not rounds off with a large selection of coastal auctions in Victoria’s two most popular seaside locations of the South coast and Portsea/Sorrento. This year was no different with a wide range of offerings, albeit a disappointing clearance rate across the board.
There was however the stand out auction that was conducted by Great Ocean Road Real Estate at 34 Lialeeta Road, Fairhaven. In front of a 100 strong crowd I had the privilege to auction a two bedroom hardiplank home with a view that was simply world class. With a reserve of $1.55 million the property was quickly on the market and after 74 bids was sold for $2,060,000 – an outstanding result.
Another stand out for me was the opportunity to view the rejuvenated Pole House at Fairhaven. The outstanding makeover has elevated the status of the exclusive “couples retreat” to match the uniqueness of the structure itself. The rejuvenated Pole House is now available for short term rental and to secure your dates please call our accommodation department on (03) 5289 4233.
Saturday 1st February
11:30-12:00 4 & 5 Roache Court, Lorne
12:00 – 1:00 Cumberland Resort, Lorne
4:00 – 4:30 3-9 Armytage Street, Lorne
Sunday 2nd February
11:00 – 11:30 25A Toorak Terrace, Lorne
12:00 – 12:30 24 Grand Parade, Lorne
Lorne – You must have a look at this
Invite the family and all the friends to this three level, six bedroom, three bathroom beach house! 52a Dorman Street is located on the low side of Dorman Street and boasting a sensational 180 degree ocean and coastline view, incorporating the Lorne pier, Aireys Inlet Light house and the dramatic crashing waves on the beach below. Offering zoned living spaces, multiple decks and polished timber flooring. Great privacy and separation within the property for those wanting their own bit of space/relaxation. More details here.
With a recent price alignment, the property is now on the market for $1.295M. To arrange an inspection or for more information, please contact Karen Stribling on 0439 650 838 or firstname.lastname@example.org
Lorne – Great local slang
Fifty K’s south of woop woop – “In the middle of no where”.
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See you in Our Backyard.
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