Torquay First National’s market report out

Date: 17 September 2013
Torquay First National director Hank Moerenhout has just completed his Spring Quarterly Market Report collating information of existing and historic real estate trends in Torquay (excluding Jan Juc).

Interestingly, only about 10 years ago the median house price was around $300,000 and back in 1999 around $150,000, compared to a median of $534,000 this year.

Torquay was a very different dynamic 10-15 years ago with non-residents holding up to 70 per cent of the property market in holiday and rental properties, that situation has now reversed with owner-occupiers holding about 70 per cent of the Torquay property market.

This compares with a shire-wide average of 50 per cent non-residents with Lorne being at the other end of the scale with up to 80 per cent non-residents.

Mr Moerenhout’s report indicates there are 167 houses for sale in Torquay, averaging 191 days on the market with properties achieving a 58 per cent return over the past 10 years.

Below is the sales and growth chart that forms part of Mr Moerenhout’s report. If you would like a copy of the full report for Torquay or Jan Juc, please contact Torquay First National, 18 Pearl Street, Torquay or phone 5261 6838.

First National Real Estate Torquay

Source: Surf Coast Times, 17 Sep 2013
Back to articles Filed under: Media / VIC News Tags: first national real estate torquay, hank moerenhout, property market, torquay
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