Surf Coast property’s big year

AS THE population of the Surf Coast grew beyond 30,000 people in 2017, the town that is home to two-thirds of that population has seen some rapid growth, especially towards the north.

Torquay, now boasting a population of near 20,000, has seen a shift in where people are living that sees Torquay North’s population far exceeding the population of Old Torquay.

Meanwhile, Lorne has seen the largest median house price growth in a 12-month period with Jan Juc’s median house price increase doubling that of Torquay in dollar value during the same period.

The emerging tree-change community of Winchelsea has seen a median price increase on par with Lorne in percentage terms, with the median increasing $85,000 over 12 months.

With young families, “lifestylers” and retirees flocking to Torquay for a taste of the beach life, new estates have struggled to keep up with the demand for land and houses are snapped up shortly after listing.

One Agency’s Shaun O’Callaghan said that one of the noticeable shifts during 2017 was the willingness for Melbourne buyers to migrate to the coast for lifestyle and Geelong for career opportunities.

“The employment landscape in Geelong has altered from a predominantly blue-collar workforce to an evolving white-collar workforce,” he said.

“With more and more multiple-offer scenarios, it is clear that the market remains buoyant.”

Links Property’s Lynne Hayden, whose agency is moving into its 11th year of business, looks back on 2017 as one of the most successful and rewarding years.

“We connected 71 families into homes, secured number one position online in four of the 12 months for number of homes sold, listed and referred.

“Our average days on market floated around 41 days, 13 days less than the other agents,” Ms Hayden said.

McCartney Real Estate have had an exceptional year with many records broken.

Director John McMahon said that 2017 had seen a rapid increase in the local market with Torquay’s median house price now in excess of $700,000 and Jan Juc topping the $800,000 level.

“McCartney Real Estate has had record sales prices in many areas such as 13 Point Close selling for $1.085 million in the Quay, and 2 Mia Mia Way at $1.165 million in the Surf View Estate. Central Torquay has again finished on a high with sales at 44a Zeally Bay Road selling well over its reserve at auction, 34 Fischer Street selling prior to listing and 5A Fischer Street achieving a level well above the vendor’s expectations.

“Strong sales were recorded in Jan Juc consistently and the rural market showed great results with sales such as 2 McCanns Road achieving a price well in excess of the quoted range, and perhaps the highlight result being ‘Mirro Park’ at 455 Nortons Road selling for $3 million. Perhaps the biggest trend upwards has been the increase in land sale prices, with evidence of titled land achieving increases well in excess of $100,000 over a 24-month period.”

Next week, read about the price growth in Lorne, Anglesea, and Aireys Inlet.