27th August 2013
‘Lorne – Market Round Up’ To round off my reviewing of the R P Data Barwon Region market review our attention this week focusses to Vendor discounting. The Vendor discounting figure tracks the difference between the price at which a home is initially listed for sale and the price at which it ultimately sells for, the figure is expressed as a percentage. A typical Barwon region house was discounted by 8.1 per cent over the year to March 2013. This level of discounting, for houses is the highest level of discounting that has been recorded across the region since these figures have been monitored. The elevated levels of Vendor discounting across the Barwon market suggests that sellers of Barwon Homes are typically setting the initial asking price of their homes at levels that the active buyers in the market are not willing to meet. It would also tend to reflect the pressure on the property values over recent years. ‘Lorne – Weekly Report’ Demand for property continues to be good for coastal property when one takes into our account our past winter trends and the seasonality of what we do.
Our market is no different to others where price sensitivity is foremost in the minds of buyers and our trends are no different to those exposed in the R P Data Barwon region report. We have continued to have reasonable success in matching buyers to sellers where the price is right. Last weekends “Coming Together for Casey” round of football produced a fantastic continuing sharing of support for Casey and his family. The activities of the Mountjoy Parade traders and Lorne’s community were a great example of a small community coming together to support one of our own. This weekend the Lorne Dolphins travel to Birregurra for the penultimate round of the season in what is sure to be a tough game as a loss to Birre will see them fall out of the final fire. Open Houses Saturday 3rd 12.00 – 12.30 50B Smith Street Lorne Sunday 4th 12.00 – 12.30 Apartment 8 Cora Lynn Lorne ‘Lorne – No better place in the world’. ‘Lorne – You must have a look at this’. As we all know Lorne’s north facing golden mile precinct on Mountjoy Parade between the two hotels has been long recognised as the most prestigious strip of coastal real estate on the west coast of Victoria. There is currently an “off market” opportunity to secure a unique piece of this blue ribbon precinct. Call any one of our team to explore this opportunity further. ‘Lorne – Great Local Slang’. “I’ll go and have a Captain Cook”
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AVAILABLE FREE EVERY DAY – ALSO FEATURES DAILY TIDES FOR THE OCEAN ENTHUSIAST See you in Our Backyard Ian Stewart 0418 522 571