The opening of the Geelong Ring Road and ongoing interest from Melbourne buyers looking for a more laid-back coastal alternative than the busier Surf Coast towns of Lorne and Anglesea has continued to fuel demand in Aireys Inlet.

Median house prices in Aireys Inlet – which backs onto the Great Otway National Park – have climbed 41.1 per cent to a median price of $670,000 between March 2009 and March 2010, according to Land Victoria figures.

James Worssam, director at Great Ocean Road Real Estate, says that, while the values felt the impact of the financial crisis, the market turned early last year and has been strong since, with prices helped by limited stock. “They’ve capped the town boundaries – we’ve got the ocean on one side and national park on the other side – so we’re limited to where we can go, and it just keeps pushing up the price of what’s here”.

The entry level house price is now about $500,000, with demand greatest for properties on streets on the ocean side of the Great Ocean Road, or those with sea views.

Median house price figures were collated from Land Victoria data, March 2009 to March 2010. The data examined included prices for 64 coastal towns but the highest growth areas were selected from those with a minimum of 20 sales during the period.(Source Domain Spring Property Review, The Age)

Saturday 18th September
12:00pm – 12:30pm 1 Anderson Street, Aireys Inlet
1:00pm – 1:30pm 12 Ridge Road, Fairhaven

Sunday 19th September
12:00pm – 12:30pm 1 Anderson Street, Aireys Inlet
1:00pm – 1:30pm 12 Ridge Road, Fairhaven

See you in our backyard.

James Worssam
james@greatoceanroadrealestate.com.au
0418 585 815

Property values throughout the Surf Coast Shire still continued to climb in the two years to January 2010, according to figures produced as part of the council’s biennial revaluation of all rateable properties.

Surf Coast Shire, like all Victorian councils is required to revalue all residential, commercial and rural properties every two years under Victorian Government legislation.

The councils independent contract valuers reported that:

- The average value of residential properties throughout the shire rose 10.6% over the two years.

- Values across rural properties rose an average 14.4%.

There was also a wide variation in average rises across different communities in the Shire with residential values increasing strongly in small coastal townships like Eastern View, Moggs Creek, Aireys Inlet (18.8%) and Anglesea (15.5%).

See you on the coast.

James Worssam
james@greatoceanroadrealestate.com.au
0418 585 815