20th September 2013
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.
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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