Our Backyard – Aireys Inlet

The Nation Decides

Although the Federal election was announced only a short time ago it does feel like we have been waiting to vote for quite some time. As an Estate Agent it always interests me the effect a Federal Election will have on the activity and common behaviours of our clients both buyers and sellers. Without fail each election year we see people that are looking to buy or sell a house on the coast become wary about what might happen in real estate terms with a potential change of government. The scare and unknown this year is what effect Labors negative gearing changes may have should they win at the polls tomorrow. In Aireys over the last 12 months we have seen a dramatic decrease in houses being listed for sale which has effected our sales volumes dramatically, however those that have sold property in recent times have made huge gains driven by low supply. RP Data reports that the Aireys Median House price has grown from $747,747 in May 2018 to $900,000 today or 17% increase in 12 months.  It is evident that property owners have some reserves in selling their homes and this maybe because of the looming election and a ‘putting things on hold’ mentality until the election winner is announced or a common misconception that because the Melbourne property market is depressed our coastline should follow suit which has simply not been the case. Remember to vote tomorrow at Aireys Inlet Community Centre, 6 Great Ocean Road if you’re in town.

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Ben Jackson

ben@greatoceanroadrealestate.com.au

0437 308 706

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