Market Wrap January 2018
The peak summer season has come and gone, and with the weather staying nice and warm for most of the month hopefully it was a positive time for local Surf Coast traders.
Following on from a brilliant 2017, the Surf Coast’s highly desirable lifestyle and attributes continue to see property values soar.
As Geelong continues to develop as a regional Government and Tech hub, the call to the coast is strong. It is becoming more and more evident that the Surf Coast has become an area of interest for Professional’s looking for a life that caters to both career and lifestyle – at a more affordable entry than major cities.
There was a frenetic finish to the real estate year with 7 properties being sold in Anglesea and Aireys Inlet in the last two weeks of December.
A festive lull saw January’s market get off to a slower start with buyers not quite as urgent as we saw through December in the early part of the month; progressively as buyers got out of holiday mode and new listings came on through the month, the market became active again with seven sales recorded in Anglesea and four in Aireys Inlet/Fairhaven; 85% of these sales were recorded after the mid month period.
Demand for property under $750,000 was still strong, though with extra listings coming on through January discerning buyers had options unlike previous months, so getting your property well prepared for sale is still an important factor in your property standing out. At the other end of the market the top sale number for Anglesea was $1,265,000 with Aireys Inlet/Fairhaven recording $1,400,000.
We have some exciting new properties coming on in February in Anglesea and Point Roadknight and a big announcement due shortly, that will have buyers looking for land in Anglesea very interested.
Torquay and Jan Juc have experienced a rapid increase in interest in entry level housing which has been reflected in outstanding results for houses in newly developed estates in North Torquay as well as smaller 3 bedroom older style houses in established areas of both townships.
Land has also been in high demand as new releases continue to unfold. For the first time ever, Hayden Real Estate conducted an Auction for the highly anticipated release of Zeally Sands Stage 16A on 25th January. With over 180 attendees all blocks sold out on the night averaging $400,333 per block with $464,000 as the highest bid on the night.
Resulting from such a successful night for all involved, we will be conducting another Auction for the release of Zeally Sands Stage 16B on Friday 16th March at 7.30pm in the Balmoral Room at The Sands.
If you would like to register your interest in this next stage land release contact us today.