World class property push

BY DEAN WEBSTER AND KYLIE OLIVER

THE Surf Coast property market continues to soar with another record sale in Anglesea at the weekend which smashed the previous best sale by $2 million.

Great Ocean Properties sold 24B Melba Parade within the advertised price range of $5m-5.5million to set a new benchmark for the coastal town which previously sat in the early $3 million range.

Agency director Ian Lawless said the spectacular result had cemented the beachside location as a world-class destination which attracted buyers willing to pay prestige seven-figure property prices.

Mr Lawless said this type of sale would be the norm as the Surf Coast and Great Ocean Road region was recognised for its true value.

“If you look at something like the Hamptons that is two hours from New York – we are two hours from Melbourne and we’ve got everything needed to make this area the go-to spot for lifestyle living on the coast,” he said.

“This level of interest and record sales results are giving our world-class beaches the status and the recognition they deserve.

“Demand is strong in all price ranges in Anglesea with the medium house price now sitting at above $1 million.”

Mr Lawless said buyers were coming from across metropolitan Melbourne and regional Victoria to snap up their piece of paradise on the famed Great Ocean Road.

“They know this coast – they are emotionally attached to it,” he said.

“They are looking for something that has got easy access when air travel is fickle.

“With people’s flexible work schedules and limited travel options, these houses are seeing more use.

“The prices we are seeing now are here to stay, I can’t see any retreat from this level as there is no more growth in towns like Anglesea, Aireys Inlet and Lorne, there will always be limited stock in these coastal havens.”

Mr Lawless said the agency had another great listing at 48A Melba Parade within the same price range as 24B Melba and the interest was just as strong.

He said another two Angelsea properties in the high-end bracket of $5m – $5.5m were about the come onto the market in the next fortnight.

Latest data from CoreLogic has the current (31 March 2021) median value of homes in Anglesea at $1,180,000.

Historic data shows that the Anglesea median sales price was $720,000 in May 2017 and $850,000 in May 2019. Ten years ago the median value for Anglesea was $637,000.

According to the Real Estate Insititute of Victoria (REIV), the median sales price for Anglesea is currently $1.06m, Torquay is $958,000 and Jan Juc has hit $1.45m.

Recent sales in Lorne have achieved stellar results, with one of the town’s old timers at 122 Mountjoy Parade beating the reserve by $1.45m to sell for $4.85 million at auction in January.

That same month Great Ocean Road Real Estate sold an exclusive property at 1 Roadknight Street in Lorne for in excess of $7m.

Meanwhile, the holiday home of Boost Juice founder Janine Ellis at 310 Great Ocean Road in Fairhaven is on the market for $10.8 – $11.8 million.

Mr Lawless said those results and the calibre of properties on offer meant the secret was out when it came to living and holidaying in this magical pocket of Australia.

“It is fast becoming clear to those in the industry that the Surf Coast Shire should be getting the recognition it deserves and the world class properties along the Great Ocean Road reflect this,” he said.