Surf Coast Times
Tuesday 19 October 2010
VOL 8. No 42
www.surfcoasttimes.com.au
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It’s Cup time After last week’s unseasonable weather, the forecast is for sunny conditions and a top of 22 degrees for tomorrow’s running of the Geelong Cup. A crowd of more than 17,000 is being tipped to pack the course for the big race, which has become an important lead-up event for the Melbourne Cup. Getting a hands-on feel for the cup was Torquay’s Nicole Paterson, pictured with the aptly named, Mycuppatea.
BOOM TIME House prices continue to rise at breakneck pace along the Surf Coast
BY NATHAN HALE
THE MEDIAN house price in the Surf Coast Shire has recorded a staggering 13.7 per cent increase over the past 12 month to now sit at $563,000. The figures, released by property data specialists, RP Data, confirm the ever-increasing popularity of the Surf Coast for homebuyers. And it is not just house prices that are forging upwards, units have proven even more popular with a 28.3 per cent increase in the last 12 months; the median unit price is now $526,000. While some regions have experienced only mild or minor growth in recent years due to the impacts of the Global Financial Crisis, the Surf Coast continues
Surf Forecast
to produce outstanding numbers. The best performed town was Aireys Inlet, which saw its median price increase by 32 per cent over the last financial year to $630,000 – up from $475,000. There were 34 house sales recorded, up from 27 the previous year, with the average house price increasing to $669,662 – up from $553,188 in 20082009; the lowest sale was $455,000 and the top sale was $1.12million. Marty Maher, from Great Ocean Properties in Aireys Inlet, said performances along the Surf Coast have maintained strong. “House sales in the shire enjoyed a very strong last financial year, that’s for sure,” he said. “Aireys alone was up 32 per cent – which is a huge
increase. We knew sales were strong in the town but we didn’t quite expect the results to be as good as they were. “Anglesea and Lorne also recorded strong growth over the financial year.” Maher did say the start to this financial year had been slower due to a number of contributing factors, but he remained confident the market will continue to stay strong. “There are three main reasons for the slower start. Spring has been delayed because of the weather; the election also makes an impact; and the footy finals take their toll,” he said. “For a lot of people, buying along this area is all about the process of falling in love with the area –
and for that to happen you need to have the warmer weather.” Maher also charted the change in price over the past decade for Aireys Inlet – where in the 1999-2000 financial year, the average price was just $181,506. Glenn Hardmann from Barry Plant Torquay echoed, Maher’s sentiments, and said the past 12 months had produced strong results. “There continues to be plenty of buyer inquiries and activity,” he said. “As always, if a property is priced correctly, well presented and in a good location it will sell. There has also been a strong trend of older houses selling well and then being knocked down to build townhouses – so old Torquay remains very desirable.”
WED 1-2ft small, NW 19° THU 1-3ft best day, NNE 23° FRI 1-2ft+ small NNW 25° SAT 1-2ft small WSW 26°
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