Our Backyard - Lorne
Our Backyard – Lorne

LORNE – HERE AND THERE

One of the highlights of living in this town, to which there are many, is speaking with visitors and part time residents on an ongoing basis. Over the past week conversations were ignited with a lovely couple visiting from the “dark side”, or more commonly known as Portsea – Sorrento. Like so many in Lorne their principal place of residence was Melbourne and the convenience of Port Phillip Bays northern headland a major factor in their holiday destination of choice.

On visiting Lorne and staying with friends which they hadn’t done in many years, they were blown away at the dining experiences available to what they consider to be such a small town. With MoVida, Ipsos and Coda leading these experiences comments were made ranking the experience as good as anywhere outside of Metropolitan Melbourne – combined with their love of walking, the bush, the waterfalls and the natural beauty it was so satisfying to think that their decision has been made! Lorne is soon to become the new destination of choice. It’s stories like these that keep rising to the surface and underpinning what those who know Lorne well have appreciated for years and many others now starting to realise.

LORNE – MARKET ROUND UP

With stock levels continuing to dwindle and not let up in demand, property prices along the coast have enjoyed one of their most buoyant periods since the incredible run of the late eighties. Another good week on the local scene with an apartment in the Chalet being snapped up at full asking price within 48 hours of going to market by the under bidder of the apartment 5 auction 10 days earlier. The sale of the home at 37 Armytage Street was also completed and with a number of other negotiations nearing completion, February is looking good subject to having the stock to accommodate the demand.

In situations like this it is easy for a vendor’s expectations to be buoyed by increased activity and strong results and at times expectations can get ahead of reality. In our industry there is always a “pot of buyers” looking at any given location with their own specific requirements and good agents will be servicing these clients as new stock is offered. What tends to happen is that when the “pot of buyers” is exhausted property sellers are then reliant on their marketing initiatives driving new buyer interest to the property. An old myth is that “if you sell quickly you have sold too cheap!” But in reality, if you haven’t received an offer or sold in the first 30 days that the property has been on the market, especially in times like we are seeing today, the journey is likely to be longer than it need be. A great example of matching property to people on display with the just sold Chalet apartment!

Kind regards,
Ian Stewart
For and on behalf of the entire Great Ocean Road Real Estate team

LORNE – A LITTLE SECRET

After mentioning in the column some months back about the protection works being done on the ocean side embankment at the George River back point, its great to see works having started at Cathedral Rock. This large project is part of the ongoing plan to curb coastal erosion being caused by the ocean.

LORNE – QUOTE OF THE WEEK

“If ‘Plan A’ didn’t work. The alphabet has 25 more letters! Stay cool”.

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