Lorne – Market Round Up
The Reserve Bank has again decided to leave the cash rate unchanged at 2.5 percent in December. In its statement the bank notes that there are “reasonable prospects” of a pick up next year in global growth. The bank notes that the housing and equities market have “strengthened further” in recent months which should eventually support investment.
The improvement in the national housing market continues to be evident within Victoria. November broke the record for the highest numbers of auctions transacted in a single month with over 4,600 auctions in Victoria – surpassing the previous record of 4,455 auctions in May 2010.
According to the Real Estate Institute of Victoria the market has been particularly strong in the second half of 2013. Their outlook for 2014 remains positive with volumes of sales growth expected to continue. However the performance of the housing market next year would also be dependent on broader micro-economic factors, in particular the unemployment rate and changes in consumer sentiment which could place some downward pressure on price growth in 2014.

Lorne – Weekly Report
The town of Lorne have been alive and kicking through the first week of summer with a strong supply of stock being listed for the summer selling season and vendors realising that to achieve an outcome they must be keenly priced. We are hopeful that the coming months will see the trends of the Melbourne market head to the coast and help make it a prosperous year for us all.
In the past 7 days Lorne has continued to play host to thousands of schoolies, 5,000 cyclists on the Great Victorian Bike Ride and the State Liberal Party members for their annual state conference. This weekend we host the Lorne Adventure Race (formerly Anaconda Adventure Race) and all is set to be a big weekend in town.
Buyers have been a “bit thin on the ground” over the past couple of weeks as signs of improvement are still very unpredictable but as we keep reinforcing to our lifestyle buyers – “unfortunately life is too short and there is no better place in the world than Lorne”.

Open houses
Saturday 7th December
12:00 – 12:30 148-174 Mountjoy Parade Lorne
1:00 – 1:30 4A Tradewinds Avenue Lorne
2:00 – 2:30 2 Skyline Court Lorne
3:00 – 3:30 4/9 Albert Street Lorne
Sunday 8th December
12:00 – 12:30 50B Smith Street Lorne

Lorne – No better place in the world

Lorne – You must have a look at this
If you’re searching for beachfront residential living under a million dollars then this is the one for you. In an architecturally designed boutique style development the open modern plan living space opens onto one of Lorne’s most expansive entertaining area overlooking Louttit Bay and the pier. Being offered for sale at $820,000, this is an opportunity that you must check out. For further information, please call me on 0418 522 571.

Lorne – Great local slang
He couldn’t drive a nail into a bucket of water – “Not a very good driver”.
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See you in Our Backyard.

Ian Stewart
0418 522 571