Our Backyard -Aireys Inlet

Spotlight on Aireys

At Great Ocean Road Real Estate we have noticed a good level of growth in properties priced from $600,000-$850,000 of around 10% over the last 18 months. A couple of years ago good basic beach houses in Aireys, not too far from the ocean and town amenity could be readily picked up  between $550,000-$600,000. This is not the case anymore as buyers wanting to get into the Aireys market will now have to part with more than $600,000 to secure a modest, older three bedroom home.

Interesting to note that along with growth in sale prices we are also experiencing heightened levels of properties being transacted with approximately 40 house sales being recorded in Aireys Inlet for the 2016/17 financial year. Compared to a yearly average of approximately 28 house sales over the past 7 years (source RP Data). The effect of more properties being sold is that there is less stock for those buyers wanting to buy in Aireys to choose from at any one time and days on market are less, with many properties being sold under competition which results in better sales prices for our vendors. These figures don’t take into account the amount of properties which are being sold ‘off market’ which I would estimate to be around 10% of reported sales at the present time and another indicator of a robust market place.

The end of July has seen a very strong month with our office selling 5 house/units in what is traditionally a very quiet month of the year. The properties have ranged in price between $490,000 and $2,000,000 and of which, two of these sales, were ‘off-market’ transactions.

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Ben Jackson

ben@greatoceanroadrealestate.com.au

0437 380 706

 

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