The Mirror News

Still more buyers than properties in Corner Inlet real estate market

THERE’S still many more buyers than there are properties on the market in the Corner Inlet district according to local real estate agencies.

The three agencies, SEJ Livestock and Real Estate’s Foster office, Paragreen Real Estate of Foster, and Stockdale & Leggo Coast to Country of Foster, agree that demand is far greater than supply and has been so for several months.

Prices are rising and places are changing hands fast, and often before they are even advertised.

And, of course, all three agencies are keen to hear from the owners of any type of local property, from urban houses, units and vacant blocks to coastal holiday homes, commercial farms, and rural lifestyle acreages, who may wish to sell!

“Local market extremely active” – SEJ

SEJ’s Foster real estate agent Andrea Adams said “local market conditions are extremely active in all areas.

“Currently there is little left on the market to purchase, and a large number of active buyers waiting for properties to be listed,” she said.

“The movement is COVID-driven, with the focus on obtaining a destination should there be a repeated lockdown. 

“Many buyers are moving full time with the possibility of working from home, which has become a new normal.

“Along with the baby boomers there is now a large number of young professional families making the move into the local area who are looking for a community vibe and outdoor lifestyle for their children,” Andrea said.

“With low supply and high demand property values have increased significantly right across all areas and product types, and properties are selling without getting onto the market.

“Properties are selling in excess of their advertised price due to multiple interested parties.

“Purchasers are buying sight unseen, with FaceTime walkthroughs becoming and remaining commonplace even after the COVID-19 lockdowns opened up,” she said.

“Buyers are also wanting to secure holiday homes locally as international and interstate travel loses its shine.”

“Market unbelievably strong across the board” – S&L

Foster-based Stockdale & Leggo Coast to Country licensed estate agent Peter Bellingham said the present real estate market was “very strong, in fact it’s unbelievably strong right across the board and not just in South Gippsland.

“I’ve got friends in real estate right throughout the country and they’re all saying the same thing; I’ve never seen anything like it in my lifetime,” he said.

“The market is based on supply and demand, and one of the biggest factors at the moment is that we simply can’t get enough stock.

“Just as soon as we are given local listings people are hitting them straight away and properties are selling as soon as we get them, without going on the market,” Peter said.

“It doesn’t matter what the properties are worth either, from $100,000 to $1million or more, there are buyers out there for anything, from houses in town to 600-acre farms we’ve got buyers waiting.”

Peter said the demand has also “driven prices up and they’re certainly continuing to strengthen across this district.

“I also think that COVID-19 has sent people looking outside Melbourne, and that modern technology such as video conferencing and FaceTime are now valuable marketing tools are seeing us selling properties over the phone,” he said.

“I’d like to make a personal appeal to prospective sellers; please give me a call, I need properties!”

“Nationwide demand” – Paragreen

Foster’s Paragreen Real Estate licensed estate agent and officer in effective control (OIEC) Joel Anderson, with director and licensed estate agent Brent Harriage, said “demand for local properties is coming from nationwide, not only Melbourne.

“However, enquiries from the Melbourne metropolitan area, including the Dandenong Ranges and the Mornington Peninsula, still dominating,” they said.

“We are seeing huge demand for properties of all sizes and in all locations, even in traditionally slower selling areas, as well as for permanent rentals.

“This high demand is causing a rapid increase in pricing, with numerous properties being sold sight unseen.

“Huge numbers of properties being sold ’off-market’, meaning that they are not even being advertised,” Joel and Brent said.

“All of the land estates in Foster have now been completely sold, and our Welshpool estate is selling strongly, with a new potential estate coming to Toora on the back of the current demand.”

Local agents’ contact details

SEJ Livestock & Real Estate’s Foster office is located at 8 Station Road in Foster, telephone 5682 2800, email foster@sej.com.au and website www.sej.com.au

Stockdale & Leggo Coast to Country is located at 17 Main Street in Foster, telephone 5639 9202, email foster@stockdaleleggo.com.au and website www.stockdaleleggo.com.au/coast2country

Paragreen Real Estate is located at 52 to 54 Main Street in Foster, telephone 5682 2100, email foster@prargreen.com.au and website www.paragreen.com.au

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