Metro buyers angling in on popular coastal town

It is no secret the Anglesea market is really booming at the moment, with the town well and truly on homebuyers’ radars over the last 12 months as they begin to appreciate the benefits that a small coastal town offers.

Anglesea still retains its coastal village character that other towns have lost due to rapid development, making for a perfect sea-change experience.

Hayden Real Estate Anglesea agent Darcy Bennett says he has seen unprecedented levels of growth within their niche marketplace since the market started heating up from about November 2020.

“The evidence shows around 30 per cent growth in the town, which has been driven by low stock levels and high demand with buyers regularly missing out on properties and then paying above the odds just to be able to secure something,” Mr Bennett said.

“We have just sold 13 McDougall Road, Anglesea, working through lockdowns, to secure a fantastic result in excess of the asking price for our vendors.
“We are working with multiple buyers on several other listings and we don’t expect those properties to hang around for much longer either.

“Prior to the lockdown we had many face-to-face inspections, and since then via Zoom with many regional and Melbourne based buyers, these sorts of inspections are now a really good tool that we have in our arsenal.”

With the coastal markets being so bullish, auctions are coming to the forefront as a preferred tool to achieve the best results for vendors and Anglesea is no different, according to Mr Bennett.

“We are seeing more and more auctions in Anglesea and along the coast in such a strong market dominated by Melbourne buyers, who are more conditioned to the auction process,” he said.

“Auctions are a very transparent way of selling and they have proved to bring some fantastic results in our market.

“I expect the next few months we will see more auctions in Anglesea than ever before.

“The great thing about auctions, from a seller’s perspective, is that the buyers cannot make the contract subject to any further conditions – for example, obtaining finance or having a longer settlement period, unless the seller agrees to them, there is no cooling-off period and, of course, the atmosphere can really drive the price up.”

With the latest lockdown creating another dam wall holding back some buyers, and properties still selling really well at the same time, Mr Bennett said the agency was expecting to have a bumper spring and summer selling period again when lockdown ended.