Ocean Grove Real Estate Update July 2017

Ocean Grove Real Estate Update July 2017

  Ocean Grove Real Estate Update Here is a quick snapshot of the Ocean Grove Real Estate Market…   Medium Price up 10%: Unprecedented demanded in a number of price brackets has produced some incredible results over the past 12 months and has fuelled the increase in the median price by over 10%. Demand: Overall, Ocean Grove property in all segments is performing extremely well in the current market. Demand is particularly strong for “Old Ocean Grove”. With land in this area rarely becoming available, developers and savvy investors are snapping up these large blocks in this Residential Growth Zone. This leafy area also continues to be in hot demand for family buyers, looking for close proximity to Ocean Grove Primary School and within walking distance to the main street. Quality new family homes in Kingston & Oakdene Estates within the $550,000 – $750,000 range are also in high demand for families seeking a smart, low maintenance lifestyle and investors looking to capitalize on the strong rental returns. For first home buyers and those seeking potential with a keen eye for renovation, “Old Collendina” still provides the best of both worlds for those not wanting to pay premium price but still be within walking distance to the beach! Off Market Transactions: The last 12 months has shown a trend towards agencies selling homes “off market” (10% of Hayden Real Estate’s last 100 sales did not get listed on realestate.com.au.) Having a large accessible database of willing buyers is an important factor for this type of transaction. Engaging our clients through our bi-weekly podcast, email, SMS and social media, means that they can view the property before it hits the market. First...
State Revenue Office Calculator – Pensioner Exemption or Concession

State Revenue Office Calculator – Pensioner Exemption or Concession

This calculator will determine your Duty Payable after taking into account the pensioner exemption or concession, inclusive of the Principle Place of Residence reduction. Current (from 1 July 2012) threshold for Pensioner Exemption or Concession A full exemption applies where the value of the land and dwelling is not more than $330,000 per eligible applicant. Partial concession applies where the value of the land and dwelling is more than $330,000 but less than $750,000 (on a sliding scale). No exemption or concession is available where the value of the land and dwelling is more than $750,000. This calculator can be used to determine the duty where an eligible pensioner purchases a fractional interest in a property, irrespective of whether the eligible pensioner purchases with another person who is eligible or not. CALCULATOR...
Lots 1-5 Smithton Grove, Ocean Grove – SOLD

Lots 1-5 Smithton Grove, Ocean Grove – SOLD

Commercial Land For Sale Lots 1-5 Smithton Grove, Ocean Grove  Fantastic commercial allotments in the heart of the Ocean Grove business hub SOLD!     Comparable sales in Ocean Grove Industrial estate (of which there are only a few!) 56 Grubb Road        – 664 m2      –  $605,000  (2016) Main Road frontage with a showroom/factory 39 Smithton Grove  – 1338m2      –  $402,000 PLUS GST (2013) land 41 Smithton Grove   – 1335m2     –  $377,000 PLUS GST (2013) land with Knock down...
Ocean Grove Significant Tree Project

Ocean Grove Significant Tree Project

Ocean Grove Significant Tree Project The purpose of this post is to alert landholders/prospective purchasers of property in Old Ocean Grove to the New Zonings and Overlays proposed by council to help  “preserve the bush and coastal character of identified areas with a focus on preserving and planting trees”. Some of the significant impacts of the proposal are to limit allotments to “one dwelling”, stipulate site coverage to between 40% and 60% (depending on the specific overlay) and building to 2m from at least one side boundary amongst others. Should these overlays be implemented there may be significant impact on property values (both up and down) in the effected zones. Another impact of the proposal will be two lot subdivisions and townhouse developments, in some areas these overlays will make it virtually impossible to do this type of development. The proposed overlays are displayed on the map below: The proposal is currently in an informal stage and council are considering comments at this stage, the proposed overlays are not set in stone and if you have concerns or comments council will listen. Submissions close on the 13th of May, but we believe later comments may be considered.. All the information you need to consider is at https://www.geelongaustralia.com.au/yoursay/item/8d35ecad1c121cc.aspx The proposal is set to be formalised later in the year, at which time interim controls will be put in place, however there will exemptions for current...
56 Grubb Road, Ocean Grove – SOLD

56 Grubb Road, Ocean Grove – SOLD

56 Grubb Road, Ocean Grove SOLD   Commercial Freehold in a Thriving Coastal Location Auction Date: 23rd April 11:00am – SOLD Discover this rare and exciting business opportunity in Ocean Grove. The Mortgagee has instructed the sale of this commercial freehold located in the highly sought after Ocean Grove industrial estate with busy Grubb Road exposure. This substantial property presents as a great business opportunity for a variety of small business pursuits. The building includes a shop front with display window and showroom floor, as well as a large warehouse space with high clearance. Roller doors to the showroom at the facade and warehouse at the rear permit easy access for clients and deliveries, and facilitate convenient undercover loading. Four private customer car parks and the loading zone are an absolute bonus! Set in a thriving coastal location. View without...