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

In fact on Tuesday, Boonah, a rural area around 20-25 minutes inland from Aireys Inlet, recorded Victoria’s highest rainfall with 18mm. For more information on properties on small or large acreage in our hinterland areas like Boonah, Deans Marsh, Forrest etc please contact Peter Boyce on 0419 582 448 or peter@greatoceanroadrealestate.com.au.

New quiet listing – 3 bedroom house in Moggs Creek $600,000 – $620,000.

Please contact me for details.

See you on the coast.

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

A combination of interest rate rises and property price growth has seen housing affordability worsen more in Melbourne than other capital cities over the past year. This has also been reflected in the very buoyant market we have seen on the coast in the last 12 – 18 months.

Forthcoming listing: Four bedroom house in Fairhaven with fantastic views on approx 2600 square metres. Phone or email for further information.

See you on our coast.

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

The year’s biggest winner was the Surf Coast Shire, which had a median price increase of 29% to $600,000.

According to this month’s Herron Todd White Westpac property report, prices for vacant land in regional Victoria remain strong, due to a lack of supply and increase in demand.

This is particularly evident in areas like Aireys Inlet, Fairhaven and Moggs Creek, where expansion of the town’s boundaries have been capped, therefore pushing up the prices of what is available.

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

During the period from March 2009 to March 2010, house prices in Aireys Inlet rose a massive 41.1%, with the median price now standing at $690,000.

Nine out of ten of Victoria’s top 10 growth suburbs were located within 10 kilometres of the Melbourne CBD.

See you on our favourite coastal spot, Aireys Inlet.

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

These days however, with the differences between the major parties less obvious than in days gone by, we are less likely to see too much nervousness from buyers. This certainly seems the case at present with very strong sales results in recent weeks from all our areas of operation from Torquay to Apollo Bay.

Open houses this weekend

Sunday 1st August
2:00pm – 2:30pm 4 Sutherland Court, Moggs Creek

See you in Our Backyard.

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

1. Log onto www.surfcoasttimes.com.au
2. Click on the image of the Surf Coast Times paper in the middle of the page.
3. Click ‘Open Publication’
4. This will allow you to scroll through the paper on your screen!

You can also request to be mailed copies each week and to subscribe to their online news.

Open houses this weekend

Saturday 24th July
10:00am – 11:00am Lot 28 Narani Way, Fairhaven
1:00pm – 1:30pm 2 Yarringa Road, Fairhaven

Sunday 25th July
10:00am – 11:00am Lot 28 Narani Way, Fairhaven
2:00pm – 2:30pm 4 Sutherland Court, Moggs Creek
3:00pm – 3:30pm 53 Great Ocean Road, Aireys Inlet

See you in Our Backyard

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

Take a long term view

Take advantage of the cyclical booms that occur in property by planning to keep your investment for the long term. Be prepared for the highs and lows by making sure you have realistic financial goals and are comfortable with how much you are borrowing. Be prepared for changes to interest rates and increases to other expenses relative to your investment property including rates, insurances and management fees. It is also prudent to set up a ’sinking fund’ for each investment property to cover repairs and maintenance that will inevitably arise in time.

Do your homework

Obtaining as much market information as possible about the property will help you make an objective decision. Research the capital growth history of the area and the potential rental income of the property (real estate agents and property research companies are a good starting point). Great Ocean Road Real Estate are very well placed to precisely advise as to exact yields and returns across all price ranges across the Surf Coast and hinterland.

Maintaining a good occupancy rate is crucial to your investment success, which means it is important to invest in an area with rental appeal, close to transport, schools and shops. A well-maintained, appealing property in good condition and in the right area should not be vacant for long periods, if at all. Vacancy rates in the Aireys Inlet area are low and recent demand indicates this is unlikely to change. Access to Melbourne and Geelong, improved services and an increase in business and work opportunities are all combining to attract more people to the area.

Calculate your net return

The net return is the figure you need to know about in order to understand how your investment is travelling. A quick way to calculate it is to determine the gross rental return and then deduct approximately 20 per cent for outgoings such as maintenance, rates, management fees and insurance. While rents won’t rise quickly (but they will rise), the cost of the investment can fluctuate which does affect your net return. If your loan repayments, fees and other costs exceed your rental income you can negatively gear your investment property. This means that the net loss can be offset against other income you earn, reducing the amount of tax payable on your other income.

Make use of equity

You might feel reluctant to use the equity in your home to buy an investment property, but it can be an ideal ready-made ‘deposit’ that reduces your reliance on savings. You can use the equity in your home or another investment property to buy a property without having to find any cash, even for the costs associated with the purchase.

A good tip is to revalue your property every year so that you can use your additional equity to negotiate a larger loan that you can reinvest in another rental property. Great Ocean Road Real Estate are more than happy to assist with market appraisals to assist with this process and to assist with the professional management of your property. Please contact us at any time if we may be of service! See you on the coast ……..even if it’s a little fresh at the moment!

Open Houses this weekend

Saturday 17th July

10:00am – 11:00am Lot 28 Narani Way, Fairhaven

1:00pm – 1:30pm 2 Yarringa Road, Fairhaven

Sunday 18th July

3:00pm – 3:30pm 53 Great Ocean Road, Aireys Inlet

James Worsam

james@greatoceanroadrealestate.com.au

0418 585 815

Every year, Southern right Whales make their way along the coast delighting locals and visitors alike.
Whilst we encourage safe and responsible driving at all times, keep an eye out over the coming months as these massive mammals slowly make their way along our shores.

Open houses this weekend

Saturday 10th July
1:00pm – 1:30pm 2 Yarringa Road, Fairhaven
2:00pm – 2:30pm 30 She Oak Crescent, Fairhaven

Sunday 11th July
3:00pm – 3:30pm 53 Great Ocean Road, Aireys Inlet

See you on our coast.

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

RAIL connections from the Surf Coast to Melbourne have received a major boost announcing a new station for the region’s newest neighbour, Armstrong Creek.

The new station to sit on the existing railway line between Ghazeepore Road and the Surf Coast Highway. This connection will further enhance the benefits of the Ring Road by improving access to the Surf Coast.

The government is taking action to build the right infrastructure for growth to lock in a prosperous future for regional Victoria, one of the state’s key growth corridors.

The new station will provide enhanced access for residents to central Geelong and Melbourne and, as the most westerly station in Geelong, service the Bellarine Peninsula and Surf Coast region.
(Source Surf Coast Times)

Open Houses this weekend

Saturday 3rd July
1:00pm – 1:30pm 2 Yarringa Road, Fairhaven
2:00pm – 2:30pm 30 She Oak Crescent, Fairhaven

Sunday 4th July
3:00pm – 3:30pm 53 Great Ocean Road, Aireys Inlet

See you on our coast.

James Worssam
james@greatoceanroadrealestate.com.au
0418 515 815