Buyer demand intensifies in Anglesea

IT’S SPRING time and arguably the best time of year in the best part of the world, although the weather of late has left us wondering.

Fortunately, the property market has been more predictable, with the coastal market not disappointing us.

At Anglesea, Great Ocean Properties report that they are seeing higher than normal sales results in a short timeframe across their foot print as buyer demand continues to intensify, with the existing shortage of quality properties on the market creating wonderful opportunities for vendors, buyers and investors alike.

Great Ocean Properties director Ian Lawless said the normal spring volume of listings was unlikely to match that of previous years, giving potential vendors some great scope through the rest of the year.

“These low stock levels will continue to be a driving factor in the Anglesea and coastal market overall in spring, with the market remaining firmly skewed toward sellers.

“Great Ocean Properties will have quite a few new sales campaigns launching throughout October in Anglesea.

“These new properties will cover all price points from the mid $500,000 range to $3 million.”

Buying well in this market is about being patient, but it is also about being ready for action and acting in a timely manner.

This is reflected in Anglesea, with average days on market now sitting at a low of 17 days with only 15 properties presently on the market, two of which are under offer. Properties that are priced correctly don’t take long to sell with numerous properties attracting multiple offers from three or four interested parties.

“As buyers in Anglesea remain focused on certain properties, if there is a willingness to broaden the horizons a little, they will see some good value for money,” Mr Lawless said.

“Certain segments of the market are going over and above with the $650,000 – $850,000 range doing particularly well.

“5 Hillcrest Avenue in Anglesea was put to market last week and sold in five days for well above the vendors reserve, drawing multiple offers from three bidders competing for the property.

“In Point Roadknight, buyers are outnumbering the sellers of these premium beach houses by a factor of three or four to one.

“This trend is unlikely to change anytime soon across the Anglesea market with 102 Melba Parade, Anglesea selling around $2.1 million.

“Our projections indicate that based on the current trends, Anglesea listings are down by around 15 per cent this year and total sales volume down by around eight per cent compared to 2016.”

Phone the Great Ocean Properties Anglesea team of Ian Lawless, Jess Nowson and Paula Fowler on 5263 1100 to have a confidential discussion about all your property needs.