9th June 2022
APOLLO BAY- HERE & THERE
The Colac Otway Shire, alongside the Great Ocean Road Coast and Parks Authority (GORCAPA) have released a draft Apollo Bay, Skenes Creek and Marengo Community Infrastructure Plan (draft CIP), which sets a long-term vision with strategic principles and concept plans for key infrastructure within those townships to guide development over the next 20-30 years, with councillors saying they would ensure considered, integrated, development of the area. The CIP includes plans to link the three towns through trails, foreshore masterplans, design guidelines for Apollo Bay’s streetscapes and previously finalised development plan for Apollo Bay’s harbour. The draft plan will go on display for public comment for six weeks, subject to official endorsement from GORCAPA, the COS will also host a submissions hearing as part of the consultation process before final adoption.
Click HERE for further info
APOLLO BAY- MARKET ROUND UP
While we enter a new cycle of real estate investment, and flexible work environments are still on offer from employers to attract potential candidates, strong demand for coastal properties continue.
Our buyer cycle continues to be steady heading into the cooler months, although tourism and visitation are lower. This challenges the traditional theory of selling only in Spring/Summer.
As buyers are trying to avoid only substantial interest rate changes they are keen to secure a property before Spring and lock in a competitive fixed rate once purchased this Winter.
The sought after locale of Marengo has recently been named ‘Victoria’s most exclusive regional hideaway’ New PropTrack data shows the regional towns with the highest median house prices, excluding major cities and the Surf Coast. Marengo topped the list, with its median house of $1.35m, which represented a 38.5-per-cent growth over 12 months. Apollo Bay, ranked No. 10, with a median house price of $965,000. The exclusivity of Marengo and others on the list meant they were “tightly held”, with very few opportunities to buy into, also meaning the median figure is worked off a small sale sample that could sometimes misrepresent what we as agents are seeing on the ground.
The other interesting factor from the market’s perspective is the push from holiday investors to permanent residents, our team have noticed a shift of families returning to the coast, following years of houses being snapped up for holiday rentals and Airbnb, seeing approximately 50 per cent of the time the home will be owner occupied. Long-term holiday homeowners are also taking advantage of the spike in current pricing, having had property for years and seeing massive appreciation. Given the limited supply, along with attractive infrastructure improvements connecting the locale to the main township of Apollo Bay, Marengo will likely see constant price pressure, though certainly some of those identified scenarios (under coastal infrastructure plans) might push pressure to other areas also like Skenes Creek as improvements take place.
To have one of the award winning team assist you to achieve the best price through our premium marketing and large database of buyers, contact our office today.
Kind regards,
Darren Brimacombe
For and on behalf of the entire Great Ocean Road Real Estate team
APOLLO BAY- A LITTLE SECRET
WinterWild Festival Launch
Following the official launch on Wednesday 8th June the festival program has now been released. Occurring over two weekends in August- 12-14th & 26-28th Apollo Bay’s dark and mysterious winter festival returns once again. Including Amyl and The Sniffers, Cash Savage and The Last Drinks, Emma Donovan, ORB, Floodlights, Leah Senior and much more. Dance around a beachside bonfire, take a tour through cemeteries, feast on fresh Apollo Bay seafood, play a late-night water polo match illuminated by balls of light and more. Click HERE for further info.
APOLLO BAY- QUOTE OF THE WEEK
“Happiness is not something you postpone for the future; it is something you design for the present.”
CURRENT LISTINGS:
Click HERE to view our current listings
