US Real Estate Market Prepares to Turn a Corner

As the Australian property market has seen a brief and relatively controlled slow down it is interesting to take onboard the current and changing US property market. Since the GFC the US property market has struggled to regain and return to positive growth but it seems that things are on the improve as reported recently by Les Christie from CNN Money:-

Buying a home may never get any cheaper than this. Several housing experts are predicting that this year will be the last chance for bargain hunters to cash in on the best deals of the weak housing market.
With home prices down 34% nationally since 2006 and mortgage rates at historic lows, homes have never been more affordable — but it won’t stay this way for much longer.

Stuart Hoffman, chief economist for PNC Financial Services, said he expects home prices to flatten out by the third quarter and start climbing by next year.
A number of factors will help bolster the housing market, he said, including a decline in the number of foreclosures and continued job growth. In addition, homebuyers will have better access to mortgages as they get their finances in order and improve their credit scores.”This is a strong indicator that we will start seeing home price indexes, like the S&P/Case-Shiller, start to report home price increases this summer,” he said.

It would make sense that as confidence and positive trend returns to the US market that Australia will feel the knock on effects of optimistic confidence and the ever present dynamic of cyclical market conditions. It would also be prudent to think that buying a home in the Torquay Region, now, before the inevitable ‘up swing is an action performed by those astute investors who realise that our great town offers a lifestyle and amenity that is envied by many and will continue to attract new home owners as the population decentralises from the major cities.

Open houses this weekend:

Saturday 19th May

11.00 – 11.30am 15 Casino Court, Torquay

12.00 – 12.30pm 7 Sandy Way, Torquay

12.00 – 12.30pm 28 Centreside Drive, Torquay

1.00 – 1.30pm 151 The Esplanade, Torquay

1.00 – 1.30pm 2 Afzan Court, Torquay

2.00 – 2.30pm 13 Rayville Court, Torquay

3.00 – 3.30pm 3 Pride Street, Torquay

Sunday 20th May

11.00 – 11.30am 1/19 Liesbet Close, Torquay

11.00 – 11.30am 10 Hani Court, Torquay

12.00 – 12.30pm 7/105 Great Ocean Road, Anglesea

12.00 – 12.30pm 5/4 Noble Street, Anglesea

1.00 – 1.30pm 1221 Horseshoe Bend Road, Torquay

See you on the best coast..

Tuesday was a very significant day for the property market.

The Reserve Bank cut the cash rate by 50 basis points to 3.75 per cent. The last time it was at this level was during the GFC. This decision followed poor economic news in the form of the house price index, lower inflation numbers, low housing finance results and a drop in building approvals.

Everyone’s attention now turns to the banks !

The State Government also handed down its budget. The REIV has welcomed the priority placed on ensuring economic growth in the Victorian Budget and the provision of ongoing funding for stamp duty cuts for first home buyers. There will also be a cut to workcover premiums.

The REIV has also released the current vacancy rate which showed no change from March across Victoria at around 2.3 %. We would suggest that the vacancy rate for Torquay / Jan Juc sits under 2.0 % at present, though stock levels are higher than usual. 

We can report a lift in general buyer sentiment and subject to the banks passing on the interest rate cuts, further confidence will return to the market.

Please see below for our many opens this weekend and in particular check out the forthcoming auction of 105 Great Ocean Road , Anglesea – 11 Apartments, 6 incomplete motel units and a lovely Great Ocean Road frontage premises currently operating as a Day Spa.

Open houses for this weekend:

Saturday 5th May, 2012

11.00 – 11.30  10 Hani Court, Torquay

12.00 – 12.30  2 Afzan Court, Torquay

1.00 – 1.30  74 Strathmore Drive, Jan Juc

2.00 – 2.30  13 Rayville Court, Torquay

2.00 – 2.30  72 Sunset Strip, Jan Juc

3.00 – 3.30  155 Coombes Road, Torquay

3.00 – 3.30  3 Pride Street, Torquay

Sunday 6th May, 2012

12.00 – 12.30  1221 Horseshoe Bend Road, Torquay

1.00 – 1.30  1/19 Liesbet Close, Torquay

1.00 – 1.30  151 The Esplanade, Torquay

2.00 – 2.30  15 Casino Court, Torquay

2.00 – 2.30  10 Hani Court, Torquay

We look forward to seeing you on the Coast !

Geoff Bennett 0458 513 860, Laura Andrews 0488 203 737, Ben Jackson 0419 375 285

As autumn has truly set in, it is apparent that the cold and wet weather is here to stay. Now is the perfect time to rug up and head down to the Surf Coast for a cosy weekend filled with brisk walks along the beach, winter shopping and enjoying a hot drink in front of the fire or at one of the many local cafes. As we reflect on the start of 2012 and on the year to date, the months of January through until March have proven to be strong consistent months in the lead up to the autumn and winter months ahead. Past sales reflect a strong desire to purchase established homes.

Entry level land is receiving high volumes of enquiry from first home buyers, developers and people making the sea change to Torquay, This is evident through our recent sales within our newest land release at the ATTUNGA ESTATE in Torquay with 9 of 13 lots sold already.

Overall March has been a great month for us and the year to date records clearly show more sales to March than for both the September and December quarters of last year – a clear indicator that confidence is returning further and buyers are seeing value in all sectors.

With land now secured for the new Torquay Secondary School, there is no better time to make the sea change to Torquay – the whole family will thank you for it!

Open Houses This Weekend

Saturday 28th April, 2012

11.00 – 11.30 86A Geelong Road, Torquay
12.00 – 12.30 2 Afzan Court, Torquay
1.00 – 1.30 1221 Horseshoe Bend Road, Torquay
3.00 – 3.30 10 Hani Court, Torquay

Sunday 29th April, 2012

12.00 – 12.30 3 Pride Street, Torquay
1.00 – 1.30 15 Casino Court, Torquay
2.00 – 2.30 151 The Esplanade, Torquay

Laura Andrews 0488 203 737, Geoff Bennett 0458 513 860, Ben Jackson 0419 375 285

RP Data – Rismark Home Value Index Release

Australia’s housing market is showing signs of stabilising after home values rose 0.2 per cent in March. Not only has the market remained unchanged for the quarter ending 31 March 2012, it is also level with the 31 November 2011 home values across the combined capital cities. The flat result over the quarter is the strongest result since March 2011 when values increased by 0.7 per cent.

According to the managing director of Rismark International, Ben Skilbeck, “While the housing market remains soft, the zero per cent change over the first quarter of 2012 demonstrates that it is consolidating its position following the decline seen in calendar year 2011. This month it was the resource rich states which delivered the strongest gains with Perth, Darwin and Brisbane up 1.4 per cent, 1.1 per cent and 0.8 per cent respectively”.

Over the twelve months ending March 31, capital city home values are down 4.4 per cent with the largest falls being recorded in Hobart (-7.3 per cent), Brisbane (-6.1 per cent), Adelaide (-5.7 per cent) and Melbourne (-5.4 per cent). Despite the fall in Melbourne home values they are still up 45.5 per cent since the start of 2007. At the other end of the spectrum, Canberra continues to show the most resilience with values down just -0.3 per cent over the year.

Torquay and surrounds continue to see good levels of stock available across all price points with sales being achieved when buyers see value for money opportunity in what is a fiercely competitive buyers market. As the previous commentary describes we may be experiencing the end of the current buyers market with price consolidation occurring throughout Australia. As a buyer, now is the time to buy before the inevitable up swing occurs. Take advantage of great stock levels and buy your dream home, investment property or holiday home today from the experienced team at Great Ocean Road Real Estate.

OPEN FOR INSPECTIONS

SATURDAY 21ST APRIL, 2012

11.00am – 11.30am 7/105 Great Ocean Road, Anglesea
11.30am – 12.00pm 72 Sunset Strip, Jan Juc
12.00pm AUCTION 72 Sunset Strip, Jan Juc
1.00pm – 1.30pm 2 Afzan Court, Torquay
2.00pm – 2.30pm 15 Casino Court, Torquay
2.00pm – 2.30pm 10 Hani Court, Torquay
3.00pm – 3.30pm 155 Coombes Road, Torquay
3.30pm – 4.00pm 151 The Esplanade, Torquay
4.30pm – 5.00pm 3 Pride Street, Torquay

SUNDAY 22ND APRIL, 2012

11.00am – 11.30am 1221 Horseshoe Bend Road, Torquay
12.00pm – 12.30pm 2 Afzan Court, Torquay
1.00pm – 1.30pm 10 Hani Court, Torquay

 Geoff Bennett 0458 513 850, Laura Andrews 0488 203 737, Ben Jackson 0419 375 285

Sally Fitzgibbons goes back-to-back at the Rip Curl Women’s Pro Bells Beach whilst Mick Fanning Claims Victory Over Kelly Slater
Sally Fitzgibbons (AUS) has claimed victory at the 2012 Rip Curl Women’s Pro Bells Beach over Stephanie Gilmore (AUS), in offshore four-to-five foot (1.5 metre) waves at Bells Beach.

The second stop on the 2012 ASP Women’s World Championship Tour, the Rip Curl Women’s Pro Bells Beach enjoyed a week’s worth of excellent waves and the world’s best female surfers rose to the occasion in fine fashion. In a hard-fought Final, it was Fitzgibbons who was able to stave off a late charge from Gilmore and claim the Rip Curl Women’s Pro Bells Beach for the second year in a row.

Mick Fanning (AUS) was victorious in winning the 2012 Rip Curl Pro Bells Beach over reigning 11-time ASP World Champion Kelly Slater (USA), 40, in offshore three-to-five foot (1 – 1.5 metre) waves at Bells Beach. The Rip Curl Pro Bells Beach culminated in dramatic fashion today with pundits calling it the “best Final in event history.”
The Australian and American went blow for blow throughout the 35-minute bout, exchanging massive scores and the lead several times before the dust settled.
The Great Ocean Road Real Estate office had a busy Easter Period seeing consistent buyer enquiry level through the 26 Open For Inspections conducted between Saturday and Monday. This buyer interest has culminated in the sale of 4 properties by the Torquay office during the first 10 days of April and hopefully the beginning of a great sales results for the month.

As the Torquay property market is intrinsically related to the Melbourne market it is interesting to note that a recent rise in Melbourne buyer activity has seen an improvement in auction clearance rates in Victoria’s capital. Melborne averaged slightly less than 60 per cent in February and March – consistently being around the high 50s and 60s on weekends – compared with an average about 50 per cent in November and December last year. Are we witnessing the end of a flat period in the Surfcoast Property market? Only time and the inevitable rise in property prices will tell.

Open Houses This Weekend

Saturday 14th April, 2012

11.00 – 11.30 7/105 Great Ocean Road, Anglesea

12.00 – 12.30 38 Bells Boulevard, Jan Juc

1.00 – 1.30 1221 Horseshoe Bend Road, Torquay

1.00 – 1.30 74 Strathmore Drive, Jan Juc

2.00 – 2.30 72 Sunset Strip, Jan Juc

2.00 – 2.30 151 The Esplanade, Torquay

3.00 – 3.30 2 Afzan Court, Torquay

3.00 – 3.30 10 Hani Court, Torquay

4.00 – 4.30 3 Pride Street, Torquay

Sunday 15th April, 2012

12.00 – 12.30 1221 Horseshoe Bend Road, Torquay

12.00 – 12.30 34 Ozan Crescent, Jan Juc

1.00 – 1.30 15 Casino Court, Torquay

1.00 – 1.30 151 The Esplanade, Torquay

2.00 – 2.30 10 Hani Court, Torquay

2.00 – 2.30 1/19 Liesbet Close, Torquay

2012 Rip Curl Pro Update- Jan Juc local Nic Muscroft wins Wingman Men’s Trials at pumping Bells Beach to claim his third Rip Curl Pro wildcard.

Nic Muscroft aged 29 from Jan Juc, has topped an elite eight-man field of Victoria’s top surfers to claim the second and final wildcard berth into the 2012 Rip Curl Pro presented by Ford.

In near-perfect 3 to 4 foot (1-1.5 meter) offshore conditions at Bells Beach, Muscroft defeated Jack Perry (27, Jan Juc) in the final on Monday. Muscroft unleashed a powerful assault of deep frontside rail turns on the long, roping walls on offer at Bells, racking up a pair of 8-point rides. He would finish the final with highest total heat score of the trials, a 16.67 (out of a possible 20 points), putting him out of reach of fellow Surf Coaster and good mate Perry, who finished with a combined total heat score of 13.4.

The Great Ocean Road Real Estate team are looking forward to another fantastic Easter period and with beautiful weather forecast what better time to be a part of this friendly community in one of the best sea side locations in the world. If you are a Torquay resident or looking to become a resident or holiday home owner and you have some questions about current market conditions feel free to drop by our office or phone Geoff Bennett, Laura Andrews or Ben Jackson and they’ll be happy to answer any questions you may have. Great Ocean Road Real Estate will be open every day over Easter except Good Friday.

We will be conducting a total of 26 Open For Inspections of fantastic homes over 3 days from Saturday to Monday across all price points and locations. If you’re in the market for a property you now have a plethora of stock to choose from with vendors who are motivated to sell and willing to do a deal.

Geoff Bennett 0458 513 860
Laura Andrews 0488 203 737
Ben Jackson 0419 375 285

Open For Inspection

SATURDAY 7th April, 2012

11.00am – 11.30am 30 Centreside Drive, Torquay

11.00am – 11.30am 28 Centreside Drive, Torquay

12.00pm – 12.30pm 7 Sandy Way, Torquay

12.00pm – 12.30pm 12 Blackwattle Mews, Torquay

1.00pm – 1.30pm 79 Springvalley Drive, Torquay

1.00pm – 1.30pm 49A Boston Road, Torquay

2.00pm – 2.30pm 72 Sunset Strip, Jan Juc

2.00pm – 2.30pm 74 Strathmore Drive, Jan Juc

3.00pm – 3.30pm 2 Afzan Court, Torquay

3.00pm – 3.30pm 10 Hani Close, Torquay

SUNDAY 8th April, 2012

11.00am – 11.30am 1221 Horseshoe Bend Road, Torquay

11.00am – 11.30am 48 Ocean View Cres, Torquay

12.00pm – 12.30pm 36 Beales St, Torquay

12.00pm – 12.30pm 86A Geelong Road, Torquay

1.00pm – 1.30pm 15 Casino Court, Torquay

1.00pm – 1.30 pm 34 Ozan Cres, Jan Juc

2.00pm – 2.30pm 155 Coombes Road, Torquay

2.00pm – 2.30pm 151 The Esplanade, Torquay

3.00 – 3.30pm 2 Afzan Court, Torquay

4.00pm – 4.30pm 38 Bells Blvd, Jan Juc

MONDAY 9th April, 2012

11.00 – 11.30 2 Afzan Court, Torquay

11.00 – 11.30 86A Geelong Road, Torquay

12.00pm – 12.30pm 1/19 Liesbet Close, Torquay

12.00pm – 12.30pm 50 St Georges Way, Torquay

1.00pm – 1.30pm 151 The Esplanade, Torquay

1.00pm – 1.30pm 1221 Horseshoe Bend Road, Torquay

Look forward to seeing you on the best coast!

How great has the Autumn to date been ! Clear skies, balmy days and pleasant conditions all round. The last week has seen more sales in the Attunga Estate with only six of these affordable, flat residential allotments now available. In all March has been a great month for us and the year to date records clearly show more sales to March 20 than for both the September and December quarters of last year – a clear indicator that confidence is returning further and buyers are seeing value in all sectors.

This weekend we are again opening a variety of properties and we invite all and sundry to view any of our listings by appointment.

We look forward to seeing you on the best Coast !

OPEN FOR INSPECTION

Saturday 31st March 2012

11.00am – 11.30am 10 Hani Crt, Torquay

12.00pm – 12.30pm 1221 Horseshoe Bend Road, Torquay

1.00pm – 1.30pm 151 The Esplanade, Torquay

2.00pm – 2.30pm 72 Sunset Strip, Jan Juc

3.00pm – 3.30pm 2 Afzan Court, Torquay

Sunday 1st April 2012

1.00pm – 1.30pm 15 Casino Court, Torquay

2.00pm – 2.30pm 1/19 Liesbet Close, Torquay

Regards

Geoff Bennett 0458 513 860, Ben Jackson 0419 375 285

THE BELL BEGINS TO TOLL!

You can already feel the buzz of excitement around Jan Juc and Torquay as preparations are made for the world’s longest running and most prestigious professional surfing contest-The Bells Beach Pro. This year celebrating its 51st anniversary at Bells Beach in Australia’s surfing home of Torquay from April 3 to 14.

The ASP World Tour’s best 34 male surfers, one Rip Curl Wildcard and one local Victorian Wildcard from the Wingman Trials will be at Bells over Easter to compete in the year’s second Men’s ASP World Tour contest. There will be only one winner at the end of the marathon slog, earning the opportunity to ring the prized Bell on the final day of competition.

Australian Taj Burrow, straight from a win on the Gold Coast, will come to Bells with confidence, hopeful of taking down defending champion Joel Parkinson and the other contenders. Two-time ASP World Champion Mick Fanning, rising stars Owen Wright, Gabriel Medina and Julian Wilson, and of course 11-time ASP World Champion Kelly Slater are all must-watch surfers during the event.

The guys will share the Southern Ocean swells with the ASP Women’s World Tour’s best 17 surfers, who will also be at Bells this Easter to compete the Rip Curl Women’s Pro.

The Great Ocean Road Real Estate office will be open through-out the Easter School  Holidays and all sales agents are ready and waiting to assist you find the best property for you. We currently have some of the best stock levels experienced in recent times with value for money property across all price points and in all locations around Torquay and Jan Juc. In recent weeks, Open For Inspection attendances have been steadily increasing culminating in the recent sale of 2 Gairloch Avenue, Jan Juc which was snapped up within a week of hitting the market.  If you have been waiting for the Torquay property market to ‘bottom out’ you’ve waited long enough with many signs pointing towards a recovery as we progress further into the year.

History has taught us that  property which enjoys great amenity, world class beaches and close proximity to a major metropolitan city will always be in demand and therefore dictating the trajectory of price in one direction-Up.  Don’t be the person that says “I wish I bought in Torquay early 2012” be the person who acted and will soon be enjoying one of the best beachside locations in the world.

Open For Inspection:

Saturday 24th March, 2012

11.00am – 11.30am 5/9 Rudd Avenue, Jan Juc

11.00 am – 11.30am 1221 Horseshoe Bend Road, Torquay

12.00pm – 12.30pm 7 Sandy Way, Torquay

1.00pm – 1.30pm 34 Ozan Cres, Jan Juc

2.00pm – 2.30pm 72 Sunset Strip, Jan Juc

2.00 pm – 2.30pm 74 Strathmore Drive, Jan Juc

3.00pm – 3.30pm 2 Afzan Court, Torquay

3.00pm – 3.30pm 10 Hani Court, Torquay

4.00pm – 4.30pm 3 Pride Street, Torquay

Sunday 25th March, 2012

11.00am – 11.30am 1/19 Liesbet Crt, Torquay

12.00pm – 12.30pm 5/9 Rudd Avenue, Torquay

1.00pm – 1.30pm 151 The Esplanade, Torquay

Looking forward to seeing you on the best Coast..!

A fantastic weekend here with some balmy Autum weather enjoyed by all! The town was alive and that included buyers, with a definite increase in attendances at all our open for inspections plus a variety of private inspections conducted.  Sales in the Attunga Estate and Wombah Park ensued with several other offers on the table across all sectors.

This week we bring you two new categories – BEST VALUE PROPERTY AWARD : Our choice for this week goes to 12 Blackwattle Mews in Torquay.  Set in the very popular Deep Creek estate this four bedroom home is well under replacement value on today’s prices.  A great floor plan includes four bedrooms, two bathrooms, powder room and great living areas upstairs and down.  The front balcony has great outlooks and further features include  DLUG, garden shed and a great back yard to mention a few. Asking just $565,000 – full details below.

STANDOUT ‘WOW’ AWARD:

3 Pride Street, Torquay is simply one of the most spectacular properties we have had the pleasure to present. No amount of words can properly describe this property which is set in one of the very best locations within Old Torquay. Currently featuring as Premier Torquay Property on realestate.com.au this top quality residence offers a total of around 50 sqs of pure opulence including extensive automation, C-bus systems and networking – and all within a few hundred meters to the beach.  Check it out!

STOP PRESS REMINDER – Auction 1.00pm this Saturday : 151 The Esplanade, Torquay

Open For Inspection

Saturday 17th March 2012

11.00am – 11.30am 49A Boston Road, Torquay

11.00am – 11.30am 2 Gairloch Avenue, Jan Juc

12.00pm – 12.30pm 36 Beale Street, Torquay

12.30pm – 1.00pm 151 The Esplanade, Torquay

1.00 AUCTION 151 The Esplanade, Torquay

2.00pm – 2.30pm 34 Ozan Cres, Torquay

3.00pm – 3.30pm 2 Afzan Crt, Torquay

4.00pm – 4.30pm 3 Pride St, Torquay

Sunday 18th March

12.00pm – 12.30pm 7 Shelley Close, Torquay

1.00 – 1.30 24 Ballyliffen Cres, Torquay

2.00pm – 2.30pm 72 Sunset Strip, Jan Juc

3.00pm – 3.30pm 3 Pride Street, Torquay

Kind Regards

The past week has seen some great results with the sale of 9 Pride St Torquay, 35 Libra Lane in Torquay Heights, 11 Rayville Crt and two blocks in the fantastic new Attunga Estate in Torquay. Interest rates on hold again and a definite increase in buyer optimism in a very short space of time. For the first quarter of 2012 to date, sales volume has been higher than for the whole last quarter of last year ! …..So if you are waiting for prices to drop you are just going to get older !

Check out 12 Blackwattle Mews, Torquay for value – An as new four bedroom residence beautifully set in the Deep Creek Estate with great outlooks and oh so close to schools , shops and public transport. Just top value at only $ 565,000.

And if pure quality , size, class and location is your end goal then you must see 3 Pride St Torquay …..absolutely sensational !

The long weekend approaches and we have a variety of property open again this weekend and Monday as per the list below.

We look forward to seeing you on the best Coast !

Warm regards,

LA , GB and BJ

OPEN FOR INSPECTION

SATURDAY 10th March

11.00am – 11.30am 74 Strathmore Drive, Jan Juc

12.00pm – 12.30pm 1221 Horseshoe Bend Road, Torquay

12.00pm – 12.30pm 7 Sandy Way, Torquay

1.00pm – 1.30pm 72 Sunset Strip

1.00 – 1.30pm 2 Gairloch Avenue, Jan Juc

3.00pm – 3.30pm 3 Pride Street, Torquay

SUNDAY 11th March

11.00am – 11.30am 10 Hani Court, Torquay

12.00pm – 12.30pm 7 Shelley Close, Torquay

1.00pm – 1.30pm 50 St Georges Way, Torquay

2.00pm – 2.30pm 151 The Esplanade, Torquay

MONDAY 12th March

1.00pm – 1.30pm 1221 Horseshoe Bend Road, Torquay

1.00pm – 1.30pm 1/19 Liesbet Close, Torquay

2.00pm – 2.30pm 3 Pride Street, Torquay

3.00pm – 3.30pm 34 Ozan Crescent, Jan Juc

3.00pm – 3.30pm 151 The Esplanade, Torquay

Geoff Bennett (0458 513 860), Laura Andrews (0488 203 737) & Ben Jackson (0419 375 285)