Our Backyard – Aireys Inlet

Aireys Inlet Last Quarter Round Up

Whilst there has been much speculation about what the property markets in Melbourne and Sydney may do in 2018, it is safe to say that the market along the Great Ocean Road continued strongly to the end of 2017.

This was especially evident in Aireys Inlet, specifically for houses under $800,000 or vacant land.  We have seen high enquiry levels for such properties with two properties (2 & 14 Anderson Street) sold late in the year before even going to market, and both sold to first home buyers living in the area.  This bucks the trend somewhat of the stereotypical buyer being the baby-boomer looking to downsize in Melbourne and find a coastal getaway.  However, on only the second day of 2018, we sold 70 Aireys Street to just such a buyer in the mid $700,000’s.

In October we sold a 1960’s fibro beach house in Lighthouse Road for $780,000, well above the initial expectations, then a house in Brent Avenue under the hammer in November for $1,050,000, significantly above the reserve of $900,000 after receiving twenty six bids.

This strong demand with continued low supply has led to us leaning towards auction as the preferred method of sale for many uniquely poisoned listings.  A trend not seen for many years.

We are also offering a 1000m2 block for sale by auction on Sunday January 28 at 2 Wright Street, Aireys Inlet. In the past we would never have considered an auction for such a property, however we believe the demand for vacant land on the beachside of the Great Ocean Road to be at such a level that an auction is best likely to benefit our vendor. Please call James or Ben if you have any questions about 2 Wright Street, or any other real estate matter.

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James Worssam

james@greatoceanroadrealestate.com.au

0418 585 815

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