Then this week the federal budget increased a range of benefits for low and middle income earners. These are designed to help offset the growing cost of living, the impact of the carbon tax and help improve buyer confidence.

The budget has also projected a surplus of $1.5 billion for the next financial year. This will provide a stable platform for the Reserve Bank’s interest rate policy.

The Australian Bureau of Statistics jobs data provides more positive news. Australia’s unemployment rate fell to 4.9% in April, the lowest since March last year. The NSW rate increased fractionally to 4.9%, but it’s still the second best performing State. Booming Western Australia is at a 3 year low of 3.8%.

Consumer confidence is also improving slowly, with retail sales up 1.2% in March, according to ABS data released last week.

OPEN FOR INSPECTION

Saturday 19th May, 2012

2.30 – 3.00 8 Bachli Court, Anglesea

3.00 – 3.30 126 Harvey Street, Anglesea

Sunday 20th May, 2012

11.00 – 11.45 Narani Way, Fairhaven

12.30 – 1.00 25 Alice Street, Aireys Inlet

1.00 – 1.30 1 Werona Road, Fairhaven

1.30 – 2.00 28 Old Neuk Road, Moggs Creek

James Worssam M: 0418 585 815

james@greatoceanroadrealestate.com.au

Crisp, cool, clear autumn days have been experienced for much of this week along the Great Ocean Road and buyer enquiry seems to have picked up with the sunny days.

As you read this, 3 Noel Road, Moggs Creek is under offer as is 8a Bachli Court in Anglesea and the freehold at the popular ‘Truffles Café’ has sold.

The coming months will see less buyers doing the rounds on the weekends and this will also mean that there will be less competition for properties. Many vendors will have lower expectations and some will even resort to taking their properties off the market until spring. Others will adjust the asking price such as 34 Old Coach Road, Moggs Creek who this week dropped the asking price from $825,000 to $775,000 and is very keen to see an offer.

Once buyers see value, they will act.

Properties Open for Inspection

Saturday May 12th, 2012
2.30 – 3.00 8 Bachli Court
3.00 – 3.30 126 Harvey Street

Sunday May 13th, 2012
11.00 – 11.45 Narani Way
12.30 – 1.00 25 Alice Street
1.30 – 2.00 28 Old Neuk Road

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

ATTUNGA ESTATE (Stage 1) – TORQUAY Released in January, Stage 1 consists of 13 blocks ranging in size from 423m2 to 1023m2. Only 4 blocks remain priced from $225,000 to $255,000.

DOLPHIN COVE – APOLLO BAY A subdivision of 20 blocks ranging in size from 506m2 to 1061m2. Released early 2010, only 4 blocks remain priced between $185,000 to $330,000.

Both developments have been exclusively marketed by Great Ocean Road Real Estate.

PROPERTIES OPEN FOR INSPECTION

Saturday May 5, 2012
3.00 -3.30 126 Harvey Street

Sunday May 6, 2012
11.00 -11.45 Narani Way
12.30 -1.00 25 Alice Street
1.00 -1.30 1 Werona Road
1.30 – 2.00 28 Old Neuk Road

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

It’s been a given for many years that values along the Great Ocean Road only increase. Since I started selling real estate here in early 1997 the cheaper houses in Aireys Inlet and Anglesea have increased from around $80,000 – $90,000 to $480,000 – $500,000.

That said, it appears that as global uncertainty continues as well as worsening local economic conditions, prices are flattening out and may even be falling. Two sales in the past week in Aireys Inlet support this theory. 10 Anderson Street has sold after fourteen months on the market at a figure 20% below its original listed price. Also 5 Fraser Drive has sold after twelve months on the market at a figure over 10% below its original listed price.

This week in an endeavour to generate more activity, we have seen more price reductions.

47 Aireys Street, Aireys Inlet reduced from $550,000 (it started at $600,000) to a value price of $525,000.

12 Ridge Road, Fairhaven reduced to $1,200,000 to $1,300,000 from its original price of $1,600,000.

8 Bachli Court, Anglesea reduced to $539,000.

15 Aireys Street, Aireys Inlet reduced to $595,000 from $610,000, from its original price of $655,000.

Of course some of this might be explained by the fact that the properties were listed too high to start with, rather than a falling market. I would suggest a combination of both.

Buying conditions currently exist, such as those not seen since the mid 1990’s.

The time to buy may be now.

Properties Open for Inspection

Saturday April 28, 2012

2.30 – 3.00 8 Bachli Court

3.00 -3.30 126 Harvey Street

Sunday April 29, 2012

11.00 -11.45 Narani Way

12.30 -1.00 25 Alice Street

1.00 -1.30 1 Werona Road

1.30 – 2.00 28 Old Neuk Road

James Worssam

james@greatoceanroadrealestate.com.au

0418 585 815

Welcome to Aireys Inlet.

PRESSURE ON THE RBA

The Prime Minister has put the onus on the Reserve Bank to bring down interest rates to boost the economy.

The RBA board is expected to cut rates from the current 4.25% level at its meeting next month – one week before the federal budget – provided inflation appears under control.

Australian Workers Union boss Paul Howes and the Australian Chamber of Commerce and Industry last week said the RBA had been too slow to cut rates in response to a slowing economy.

Properties Open for Inspection

Saturday April 21, 2012

2.30-3.00 8A Bachli Court

3.00 -3.30 126 Harvey Street

Sunday April 22, 2012

11.00 -11.45 Narani Way

12.30 -1.00 25 Alice Street

1.00 -1.30 1 Werona Road

1.30 – 2.00 28 Old Neuk Road

James Worssam

james@greatoceanroadrealestate.com.au

0418 585 815

Business groups have urged the Reserve Bank to cut interest rates in a bid to lift the mood of consumers, who are as pessimistic about their personal finances as they were during the recession of the 1990’s.

Calls yesterday for an interest rate cut from the Australian Chamber of Commerce and Industry and the Australian National Retailers Association came after consumer sentiment fell to its lowest in eight months.

Business groups were joined by the unions and Westpac chief economic Bill Evans in calling for a cut in interest rates after households perception of their own finances, which most influences spending, dropped to the lowest since the global financial crisis and was now in line with the levels of the 1990’s recession.

This sentiment flows through to buyers seeking to purchase ‘lifestyle real estate’ which partly explains the slowdown in sales activity we have seen on the coast over the past twelve months.

Open for inspection this weekend

Saturday April 14, 2012

11.00-11.45 Narani Way

1.00-1.30 10 Anderson Street

2.30-3.00 8A Bachli Court

3.00 -3.30 126 Harvey Street

Sunday April 15, 2012

11.00 -11.45 Narani Way

12.30 -1.00 25 Alice Street

1.00 -1.30 1 Werona Road

1.30 – 2.00 28 Old Neuk Road

James Worssam

james@greatoceanroadrealestate.com.au

0418 585 815

With Easter upon us, the coast will be bursting with people for the next few days. There is lots of property for sale in all areas along the Great Ocean Road and there hasn’t been a better time to buy in the last decade.

If you are a genuine buyer with finances sorted and the courage to take the plunge, you very well may find a vendor keen to accommodate you.

So if you fit the above criteria and are here over Easter, contact me and I can point you towards some houses that are genuinely ‘for sale’. There are also a number of Open for Viewings on Saturday, Sunday and Monday, as per below.

Saturday April 7, 2012

11.00 – 11.30 24 River Road

1200 – 12.30 15 Aireys Street

12.30 – 1.00 47 Aireys Street

1.00-1.30 10 Anderson Street

2.00 -2.30 54 Golf Links Road

2.30-3.00 8A Bachli Court

3.00 -3.30 126 Harvey Street

Sunday April 8, 2012

11.00 -11.45 Narani Way

12.00 -12.30 9 Albert Ave

12.30 -1.00 25 Alice Street

1.00 -1.30 1 Panorama

1.30 – 2.00 28 Old Neuk Road

1.30 – 2.00 1 Werona Road

2.00 – 2.30 3 Noel Road

Monday April 9, 2012

12.00 -12.30 22 Beach Road

1.00 -1.30 12 Ridge Road

2.30 – 3.00 2 Yarringa Road

3.00 -3.30 25 Yarringa Road

James Worssam

james@greatoceanroadrealestate.com.au

0418 585 815

Whilst still subdued, there continues to be signs of an improving property market. Our market will tend to lag behind the Melbourne market when the market there is picking up, and often leads Melbourne when the market is cooling.

I was reading a blog from a Melbourne inner city agent I know, and he described how he believed that buyer enquiry levels were increasing back to more ‘normal’ levels. In fact he had 36 groups through an Open For Viewing on Tuesday at a house in Richmond. In our market 36 groups would represent more like 15 to 20 Open For Viewings rather than just one!

Things are very different here as 90% of our owners are absentee owners and we are in a market of largely discretionary spending. This usually means longer time periods required to sell property but unfortunately our fees are not reflective of this! We also have traditionally much less supply which assists in keeping property prices strong, however the current high levels of stock may threaten prices in the short term.

Open for inspections

Saturday 24th March 2012

11:00 – 11:30 24 River Road

12:00 – 12:30 15 Aireys Street

12:30 – 1:.00 47 Aireys Street

1:00 – 1:30 10 Anderson Street

2:00 – 2:30 54 Golf Links Road

Sunday 25th March 2012

11:00 – 11:45 Narani Way

12:00 – 12:30 9 Albert Avenue

12:30 – 1:00 25 Alice Street

1:00 – 1:30 12 Ridge Road

1:30 – 2:00 28 Old Neuk Road

2:00 – 2:30 3 Noel Road

James Worssam

james@greatoceanroadrealestate.com.au

0418 585 815

I alluded last week to a significant listing coming up for sale in Aireys Inlet. I can now reveal to you that the property is Inlet Lodge at 26-28 Inlet Crescent.

Inlet Lodge was previously used as a guesthouse and is one of the closest properties to the beach in Aireys Inlet. It also possesses views right down the coast to Lorne and even to Separation Creek. It is also North facing and in an extremely good position.

Inlet Lodge sits on around 4300m2 of land and is suitable for subdivision (STCA) into possibly four lots. It is to be auctioned on the long weekend in June. Please contact me for any further information.

Open for Inspection Saturday March 24, 2012

11:00 -11:30 24 Aireys Street

12:00 – 12.30 15 Aireys Street

1:00 – 1:30 10 Anderson Street

2:00 – 2:30 54 Golf Links Road

Sunday March 25, 2012

11:00 – 11:45 Narani Way

12:00 – 12:30 9 Albert Avenue

12:30 – 1:00 25 Alice Street

2:00 – 2:30 3 Noel Road

James Worssam

james@greatoceanroadrealestate.com.au

0418 585 815

There are some good signs starting to emerge from the Melbourne market, especially in the first home buyer market which is a critical barometer in any real estate market. When first home buyers start confidently acquiring units and houses, it’s usually a telltale sign the wider market is starting to turn – and that confidence is now being seen in most Australian cities, especially in Melbourne.

Whilst first home buyers only make up a tiny percentage of our market, it is another sign of a recovery in the market.

On the local front, look out for a stunning parcel of land coming up for sale, metres from the beach in Aireys Inlet with views and over 4,000m in size. Contact me for further information.

Open for Inspection Saturday March 17

2:00 – 2:30 54 Golf Links Road

James Worssam

james@greatoceanroadrealestate.com.au

0418 585 815