According to an article published on realestate.com.au, two cities in Victoria, Barwon Heads and Ocean Grove, continue to resist the trend of declining capital markets.
At the beginning of the year, prices fell, but Ben Roberts, real estate agent of Bellarine Property, told the podcast of the open house that he did not think that prices would drop because the demand remained strong.
Ocean Grove recorded annual price growth of 9%, with a median price of $ 695,000. Barwon Heads recorded an annual decline of 2% and a median home price of $ 900,000, according to CoreLogic data.
Barwon Heads appears to be a more volatile market due to lower sales volume and the number of upscale properties. The period in the market, however, is a sign that demand in the city is robust, with homes selling on average in about 37 days – 10 less than on the other side of the river.
"There is a big difference between Melbourne and Sydney, for example, where the market has changed; we have not seen it. We have probably met a little less buyers and an emergency has been removed for a while, but we now find that the transactions are continuing, that people are still buying and that they still have some confidence for buy here, "Roberts says
Roberts said that a real estate player in Melbourne, who sells for $ 2 million, could come to town to buy for a million or less.
Results in Barwon Heads earlier this month "[defy] all logic," Roberts said.
"We just sold a property sold last week in Barwon Heads less than 18 months ago on a plot of 300 square meters for $ 1.32 million and we have just resold it. Growth has been above 20%, mostly in 14 months and 15 months, "he said.
Buyers are attracted to the region because it is landlocked.
"There are exclusive streets in which people will continue to outbid," Roberts said.
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