“Confidence Slowly Growing in Apollo Bay Market”

Improvement in Buyer Confidence, that we began to see around September last year, is Slowly Creeping Back, Continual wet weather throughout January certainly slowed that momentum.
But recent February-March activity at Great Ocean Road Real Estate has seen some Excellent Sales Results, Ranging from Units Selling at 290K in Cawood Street to Great Ocean Road Properties selling over 1Mill.
With Buyer Confidence still low, though Definite Signs of Improving.
The fundamentals following have all aligned and are creating an exceptional and encouraging outlook for Apollo Bay.

Repositioned Value
Softening Prices since the Global Financial Crisis began have left Apollo Bay Real Estate very affordably priced and greater overall value than other premium markets. Some huge price reductions of Mortgagee Controlled Development Stock have been necessary to excite investors in from the sidelines and some are picking up bargains.

More Buyers Surfacing
Risk Adverse investors who have been sitting on A Record 1.3 Billion Cash Bank Deposits since the G.F.C are starting to look for more exciting and useable investments.
Opportunity and Risk go Hand in Hand, so those with greater risk appetite are seizing the better opportunity left by this (hopefully) once in a lifetime financial event.

As the market is spawning a fresh group of overly cautious buyers who will in the future recite tale’s of what they ‘could have’ bought. The Counter-cyclical strategy of buying when most are selling and selling when most are buying will invariably position property buyers for future prosperity.

Interest Rates
Variable Mortgage Rates in the 7% Range are not high in comparison to where they have been over the past 2 decades and are being offset by increasing Rental Incomes.

Building Costs Lower
Land Prices have been in many cases reduced by developers, plus with builders now looking for work this could be the second chance to get in on the Ground Floor that many thought that this has escaped them.

Strong Economy
With unemployment as low as 5%, The mining industry is predicted to inject considerable wealth into the economy for decades to come, and the Rural Sector well positions for recovery after a decade of drought.

Unique Apollo Bay
Most Importantly, Apollo Bay is a very special part of the world, a place where Lifestyle, Natural Coastal Environment and Amendable Climate, combine to make it a Highly Prized Location in which to Live and Invest. This is what will underpin Property Values as the Market Returns to its previously established growth track.

At Great Ocean Road Real Estate, we foresee a prosperous future for Apollo Bay Real Estate market and believe Market Confidence will continue to improve and create opportunity for those prepared to act.

See you on our coast.

Darren Brimacombe
0418 317 424

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