13th August 2021
Values Continue Upwards
It is amazing to me that in these uncertain and ever-changing times that the Anglesea median house price has risen an incredible 22% in 12 months to $1,250,000. Historically, coastal property has always been a sound investment if you are happy with steady incremental yearly growth combined with the benefits of a fantastic lifestyle but you’d always expect that the rate of growth in coastal values would be consistently behind metropolitan value increases – not so much anymore. To put Anglesea’s recent unprecedented rise in values into context, in the 8 years from 2012 to July 2020 median house prices in Anglesea grew by 44% from $556,000 to $985,000. Anglesea’s recent 22% median house price increase demonstrates 4 years of normal incremental increases compressed into 12 months.
I’ve reported on the drivers of this growth in previous blogs as being continued low levels of available stock, cheap lending, changed work culture and ability to work from home, and probably most importantly, people wanting to escape lockdowns in Melbourne. I do believe in years to come we will look back on the next 6-12 months as being the best period in real estate for our sellers as I think there is possibility for more growth through Spring and Summer.
I wonder what the Anglesea property market will look like once a large percentage of the population is vaccinated and lockdowns are a thing of the past, work places begin to revert back (at least partially) to an in-office requirement and people can travel internationally again? No one knows what the future holds but I can tell you that right now there has never been a better time to sell.
Hope to see you in Anglesea soon!
For and Behalf of the Anglesea Team
Anglesea Branch Manager
0437 380 706