Still powering: Luke Campbell outside another sold property on the Bellarine Peninsula.
TOM BENNETT
THE BELLARINE Peninsula has “bucked the national trend” of falling house prices, according to real estate agents.
They said prices had held up despite new data showing a nationwide fall in July.
St Leonards agent Luke Campbell, of Neville Richards Real Estate said demand for property on the peninsula was still strong.
He detected “only a slight but not significant easing” in buyer interest.
“Fewer people are looking at houses and attending open-for-inspections but this hasn’t translated into falling prices. In fact, they’ve remained constant for the past six to 12 months,” Mr Campbell said.
“St Leonards, Indented Head and other parts of the peninsula still represent good value despite the falling national market.”
Stockdale and Leggo Portarlington’s Loretta Sullivan said sales were slow over winter but prices failed to fall.
“Indications are that the market is beginning to pick up substantially, with strong buyer activity during the past few weeks”.
Ms Sullivan said a recent auction at St Leonards attracted a large number of Melbourne buyers.
“The beachside townhouse sold under the hammer and above the reserve for almost $1 million.
“Prices at the top end of the market remain very strong.”
RT Edgar’s Peter Amezdroz reported “steady and good” sales all year despite a traditional slight seasonal easing in winter.
“The market has shown signs of solid improvement now that spring has begun,” he said.
“People can see sold stickers going up all over the place.”
Mr Campbell said he had opened a second office at Portarlington amid signs of a strengthening market.
“Houses will always sell provided they’re priced correctly and in-line with market expectations. The greatest impediment to a property being sold quickly is overpricing by the agent and vendor”.
Mr Campbell said the peninsula had growing appeal to potential purchasers from Melbourne.
“Where else can a city buyer secure a bayside holiday house within a 90-minute drive of Melbourne in such a picturesque location?”
