A year ago today we were marketing 79 listings across Torquay, Jan Juc and districts excluding land subdivisions. A year ago this week the RBA dropped the standard variable rate by 75 basis points – the largest in years. A year ago today buyers and investors were sitting on their hands and we were calling the market ‘the wait and see’ arena in the face of some of the worst outlooks in decades. Sales locally were down by as much as 59% in some sectors of our market against 07-08 results. Yet ……a year ago today well located, well positioned and well presented properties still sold in this great place.
Today – Despite Great Ocean Road Real Estate, Torquay establishing itself among the market leaders locally, we are currently marketing 59 exclusive listings and enquiry is not only buoyant, it’s genuine and for the most part well qualified and ready to buy. The market has changed dramatically for the better since May of this year and with the exception of October; July was a record month for us in terms of volume and prices achieved. Notably, 22 of our sales since June were for properties that have been on the market for periods in excess of seven months and five of these had been on the market over 11 months – thank you to those sellers for their patience and trust in our abilities and marketing net!
Current selling times have come back dramatically and are nearing late 07 campaigns and our recent auction sales have exceeded reserves i.e. Competition has returned. Availabilities across the towns are falling as we move into the traditionally ‘ hot ‘ summer selling season and that means that if you are looking to buy ,it would be prudent to act now.
If you are thinking of selling……please call me!! We are selling more than we can replace and the buyers are banking up out front – fugitively speaking! See you on the Coast. Kind regards -Geoff Bennett – 0458 513 860.
