The 2017/18 financial year saw a very active coastal market once again and it is interesting to see the contrast in price and volume of house sales in each town in our service area from the previous financial year.
So let’s look at the performance of each of the towns during this period. As a reference, these sales are house sales, that is, a free standing dwelling on its own title. We do not include land sales or units although freestanding dwellings with common driveways are included. The median house price is calculated as the “middle” price when all the sales are ranked from lowest to highest.
Torquay again continues to have significant turnover with 249 house sales for the year which was down from 330 the previous financial year. The median house price has been calculated at $818,750, up considerably from $720,000 in 2016/17. There were 47 sales above $1m, 2 sales between $2m – $3m and just the 1 at $3,006,000 which was the top sale for the year. For context, there are currently 8,128 rateable properties in Torquay.
Jan Juc recorded 54 house sales, down from 65 in 2016/17, with the median house price coming in at $907,500, which was a substantial increase from $810,000 in the previous financial year. The top sale was $4,200,000, (sold by Great Ocean Properties) which to our knowledge was the top sale for the Surfcoast for the financial year. There were 12 sales between $1m-$2m, 1 sale between $2m-$3m and only 1 above $4m as mentioned. There are 1,990 rateable properties in Jan Juc.
Anglesea saw 92 house sales recorded for the financial year, down from the 98 recorded in 2016/17. The median house price was $810,000, significantly up from $753,000 the year before. The top sale for the year was $3,110,000 (sold by Great Ocean Properties). There were 23 sales between $1m-$2m, up from 15 the year before and 4 sales between $2m-$3m, up from 1 the year before and 2 sales over $3m (for the first time). Again, for context, there are 3,272 rateable properties in Anglesea. Read More…