Geoff Bennett

Extremely strong activity in recent weeks has agents talking about the ‘good old days’.

Just this week our agency has received offers from three parties on the one property which has only been on the market for around a week. The end result to the vendor being a sale well above the asking price. Clear evidence of the strength of the market.

In another case this week, we have sold a 1.5 acre block within 1% of the asking price before the property reached the market, after being sold off our database to an interested party.

All this is more evidence of the bounce-back our market is experiencing. Limited stock will be our problem over the coming weeks as we try and keep up with almost frantic buyer demand.

With buyer confidence on the way back up and a track record of high end transactions our agency offers the top end of the market, unsurpassed service and recorded achievements.

The key to the agency’s success is that we get inside the heart of the owner as to why they love their properties and where their favourite spots are. Also, having a long and established reputation and links with the right connections, clubs and associations and our ongoing support of charity, leaves us with the right people and connections to place the property to the market through a long relationship building foundation.

Steve Ryan Photography

GOLD SPONSORS – GREAT OCEAN ROAD REAL ESTATE
Annual Golf week is one of the Torquay Golf Club’s biggest events for the year. Great Ocean Road Real Estate was privileged to be involved as a major sponsor this year and whilst the Torquay team did not fare well in the prizes, their efforts were gallant in wintry conditions at the Great Ocean Road Real Estate Challenge held on Wednesday October 7th.

It was fairly obvious from the outset that the Torquay Real Estate office did not have a great pool from which to select their golf team and the decision as to where they started in the field was not a difficult one for the organisers . Accordingly they teed off last under the watchful eye of the local pro who no doubt picked up a few pointers from Geoff Bennett’s 300 m drive off the first tee (with a 3 iron). Self proclaimed team Captain, Michael Ferris was disappointing over the first few holes, giving new depth to the phrase ‘fresh air shot‘. A lot of Michaels time was also spent familiarising himself with the local flora and at one point assistance was required to get him out of a certain swamp area. Maurie Dale was the team advisor and his running commentary and obvious past expertise saw the team improve considerably as the day moved on.
Torquay Roses, Kelly Hindle and Melissah Dwyer both put in solid performances though there were some anxious moments. Melissah was not happy with anyone going ahead of her regardless of the width of the berth. After a few polite requests to keep back, Melissah came up with the quote of the day – ‘Get out of the road or I’ll knock ya block off!‘. Kelly was composed throughout despite the obvious lack of any ability from her team mates, and her cherry slices on the 8th really pepped the team up.

Team Torquay just missed the time cut at 5.00 PM having reached the 14th green with plenty of energy still in the tank. They grudgingly retired to the 19th for refreshments and the presentations. Geoff Bennett had the pleasure of presenting the winning prizes and official proceedings finished about 7.00 PM with a spirited auction of goodies with all funds going towards next year’s event.

Our congratulations go out to Club President, Greg Libbis for a very professionally run and enjoyable afternoon. A big thank you also to Vicky Ziogas who manned the Torquay office for the afternoon whilst her colleagues hacked, slashed and crisscrossed their way around the magnificent Torquay Golf Course (well ,most of it at least) .

Steve Ryan Photography

The siren of the AFL Grand Final sends a significant message to the coast.

* The 2009 AFL premiership cup again sits proudly in Geelong.
* The third term school holidays vacating are almost complete.
* Visitations and focus of local owners, absentee owners, would-be owners and visitors alike is again re-aligned to “our backyard”.

Many coastal traders report that their businesses are re-born with the seasonal return of Great Ocean Road Holiday coastal lovers. Expectations of record numbers are buoyant as the Geelong bypass puts a new definition of travel time and stress free motoring to coastal havens of Torquay, Anglesea, Aireys Inlet, Lorne and Apollo Bay. A trend that is also being reinforced by the coastal portals of our accommodation businesses.

What about real estate and coastal property values many will ask?

According to rpdata.com.au (ASX: RPX) property database, which is Australia’s largest and includes over 170,000 sales during the first eight months of 2009, home values in Australia rose by an exceptional 1.9 per cent during the month of August. This brings cumulative capital growth in the first eight months of 2009 to a better than expected 7.9 per cent. Leading the recovery through 2009 has been Melbourne with 11.6 per cent capital gain year to date in 2009.

From an interested observers perspective this increased market activity is another great sign for “our backyard”. Historically the coastal market has followed the trend of the “big smoke” albeit with a time delay of approximately 6 months prior to our seasonal cycle.

On average across our core business regions 57.7% of homes are owned by absentee property owners (i.e. second home owners).

Torquay 32.16%

Aireys Inlet 68.29%

Lorne 72.5%

Apollo Bay 57.72%

With our Melbourne Metropolitan and country visitors set to revisit there are a number of positives that reinforce our optimism for the coming year.

1. The brilliant Geelong bypass.
2. The added equity that many Melbourne Metropolitan property owners have build in their home.
3. Affordable interest rates for those who have income and cash flow security.
4. Numerous local projects and initiatives across the Surfcoast and Colac Otway Shire.

In summary there appears no better time to be entering or upgrading in our exciting coastal market.

Steve Ryan Photography