Our Backyard – Aireys Inlet

Aireys Continues to “Buck” Market Trends

We are all very aware national capital city house prices have taken somewhat of a beating over the last 18 months or so. It’s interesting to note that our coastal markets have for the most part “bucked’ this trend and had amazing levels of growth during the same period. For example, in August 2018 Aireys Inlet recorded a median house price of $763,873 which was a fantastic increase on the 2017 year end median of $690,500. Since August 2018 we saw the median house price rise to a whopping $917,500 in December 2018 and then gradually decline to the current median of $861,000 as reported by Hometrack Australia. Our winter medians are usually softer due to our seasonality in selling so no great surprise there.

In a time where many of our property owners have seen their primary places of residence’s in Melbourne decline in value by 10% or more in some cases,  it is great to see that their holiday homes have potentially grown in value by around 20% in the same period. We as coastal agents are always of the opinion that a holiday home on the great Ocean Road has two major benefits; the first (and most important) is that your coastal home offers a place of rest and relaxation with your loved ones making irreplaceable memories and the second is a financial benefit from the continued capital growth of your asset. Hopefully you are gaining benefit from both sides of the property equation in owning property in this fantastic location.   Have a great weekend.

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Ben Jackson

ben@greatoceanroadrealestate.com.au

0437 380 706

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