Anglesea market going from strength to strength
REIV-trained and accredited licensed estate agent Trent Ludlow from McCartney Real Estate says the Anglesea market conditions are unprecedented, having been involved in the coastal property market for over 10 years.
“When you take the time to accurately assess the local Anglesea market, the number of recorded residential house sales in spring 2017 compared to spring of 2016 saw a reduction in the number of residential house sales by 57 per cent,” Mr Ludlow said.
“With the reduction to the number of house sales there was an increase in the median house price.
“Spring 2017, the median residential house price was $795,000 with the highest sale price achieved being $2.1 million.
“When compared to spring of 2016, the median price was $712,000 and the highest sale price being $1.417 million.”
With fewer homes presented to market and limited options for buyers, the average days on market to sell have naturally reduced.
Mr Ludlow said that when listing a home for sale, the agent must now also ensure that the vendors were fully informed on price expectations by having to depict comparative sales for the property.
“Buyers are also well versed with historical sales given online data is readily available.
“Gone are the days when you had to visit an agent’s office to establish what was for sale let alone what had sold.”
The coast is still perceived as great value compared to many Metropolitan Melbourne markets given you are within an hour-and-a-half commute to the CBD.
Coupled with today’s digital technology, many people are able to work from home a few days a week.
The coast is providing the great work/life balance for not only investors but owner-occupiers.
“The number of properties listed for sale is at a record low (presently 15) which has been trending in this manner since 2015,” Mr Ludlow said.
“There were 137 house sales recorded in Anglesea for the calendar year of 2014 with only 90 being recorded in 2016 (2017 to date, there are 48 recorded house sales).
“The house growth has increased by 40 per cent over the past four years, with the annual average house growth of 6.22 per cent per year over the past 10 years.”
For more information on the Anglesea market, phone Trent Ludlow on 0418 308 841 who will happily share his thoughts about what 2018 holds for sellers, buyers and those monitoring the market.