Lorne – Market Round Up
Consumer confidence has fallen to a ten month low in March, with pessimists now outnumbering optimists.
The Westpac – Melbourne Institute of Consumer Sentiment has now fallen 10.9 percent from its recent post-election high of 110.3 to read 99.5 in March. A reading below 100 means that pessimists outnumber optimists in the consumer survey.
Westpac’s senior economist Matthew Hassan says initial falls in the index appeared related to the rapid end of the Abbott Governments honey moon period, but recently seem to reflect employment worries.
“More recent falls have had a very clear theme centring on the sharp loss of confidence in the economic outlook and escalating job loss fears”.
It seems consumers were particularly rattled by the recent news of job losses at Qantas, car makers and other major firms, with 45 percent recalling employment related news items. Survey results according to Hassan “the time to buy a dwelling index dropped 6.7 percent in March and is now down 16.8 percent from its September high.

Lorne – Weekly Report
With the sentiment of the Melbourne market clearly illustrated in the recent surveys it is no wonder that our local coastal leisure markets are continuing to provide a “rocky landscape” when it comes to selling property. We are all hopeful that the sales activity of recent weeks in the Melbourne residential market continues to gather momentum which in turn will assist greatly in the confidence of purchasers of coastal leisure properties.
Lorne is performing so well in so many other areas that it will not take much for consumers to turn and the Lorne market to again come to life with a vengeance.
This town has never been better positioned to represent great value and opportunity and of recent months I have challenged clients to visit neighbouring coastal towns on the assumption they have up to $1 million to spend on a leisure property, and try to find a better value than what Lorne represents. I am yet to be challenged about my comments as I continue to promote the great buying opportunities that exist!!
Last weekend in Lorne our town had never been busier, our coastal strip was adorned with the magnificent sculpture exhibition and the town bathed in the sunshine – “what is everyone waiting for – life is short”.
A special limited offer to any of our valued readers who would like to participate in the Great Ocean Road Marathon weekend – as a major sponsor I have five free entries and accompanied with a Great Ocean Road Real Estate running singlet, if you would like a complimentary entry into any of the marathon events . Please respond to ian@greatoceanroadrealestate.com.au

Open Houses
Saturday 15th March
11:00 – 11:30 4A Tradewinds Avenue, Lorne
11:00 – 11:30 63 Great Ocean Road, Lorne
12:00 – 1:00 Cumberland Resort, Lorne
1:30 – 2:00 4/9 Albert Street, Lorne
4:00 – 4:30 3-9 Armytage Street, Lorne
Sunday 16th March
11:00 – 11:30 63 Great Ocean Road, Lorne
12:00 – 1:00 Cumberland Resort, Lorne

Lorne – No better place in the world

Lorne – You must have a look at this
Here’s your chance to own one of Lorne’s famous property icons for under $300,000. With a price reduction to $299,000 now being sold at a price reflecting 2004 values! More information here.

Lorne – Great local slang
Put your hands in your skyrocket mate it’s your Wally Grout – “It’s your shout”.

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See you in Our Backyard.

Ian Stewart
0418 522 57