2nd October 2009
The siren of the AFL Grand Final sends a significant message to the coast.
* The 2009 AFL premiership cup again sits proudly in Geelong.
* The third term school holidays vacating are almost complete.
* Visitations and focus of local owners, absentee owners, would-be owners and visitors alike is again re-aligned to “our backyard”.
Many coastal traders report that their businesses are re-born with the seasonal return of Great Ocean Road Holiday coastal lovers. Expectations of record numbers are buoyant as the Geelong bypass puts a new definition of travel time and stress free motoring to coastal havens of Torquay, Anglesea, Aireys Inlet, Lorne and Apollo Bay. A trend that is also being reinforced by the coastal portals of our accommodation businesses.
What about real estate and coastal property values many will ask?
According to rpdata.com.au (ASX: RPX) property database, which is Australia’s largest and includes over 170,000 sales during the first eight months of 2009, home values in Australia rose by an exceptional 1.9 per cent during the month of August. This brings cumulative capital growth in the first eight “https://www.greatoceanroadrealestate.com.au” target=”_blank”>our backyard”. Historically the coastal market has followed the trend of the “big smoke” albeit with a time delay of approximately 6 months prior to our seasonal cycle.
On average across our core business regions 57.7% of homes are owned by absentee property owners (i.e. second home owners).
Aireys Inlet 68.29%
Apollo Bay 57.72%
With our Melbourne Metropolitan and country visitors set to revisit there are a number of positives that reinforce our optimism for the coming year.
1. The brilliant Geelong bypass.
2. The added equity that many Melbourne Metropolitan property owners have build in their home.
3. Affordable interest rates for those who have income and cash flow security.
4. Numerous local projects and initiatives across the Surfcoast and Colac Otway Shire.
In summary there appears no better time to be entering or upgrading in our exciting coastal market.