Tom Gray on the balcony of his new beach house at Middleton. Picture: Keryn Stevens
TRAVEL bans and low interest rates are driving homebuyers to the Fleurieu Peninsula, as local real estate agents report strong sales and massive demand.
Harcourts South Coast principal Mark Forde said coronavirus had done little to deter buyers from seeking coastal homes and, if anything, had fuelled their hunger.
“We’ve had our best winter in years by a big margin,” Mr Forde said.
“It started the week before Mother’s Day, when we couldn’t do opens, and that weekend I had seven private appointments with cashed-up buyers wanting to buy waterfront property.
“Since that time, we’ve had good numbers at opens.”
Mr Forde said that demand had continued to grow, with strong inquiries from local buyers and expats overseas and interstate, particularly Victoria. That had driven down the average days on market from last year’s 102 to just 68 over July and August.
“People can’t travel and can’t go overseas for the next few years, so they think ‘let’s buy a beach house and get down the coast’,” he said.
According to realestate.com.au data, Victor Harbor’s median house price has increased by 11 per cent over the past three months to $365,000.
McLaren Vale houses are up by 11.5 per cent over the same period to $480,000, while houses at Goolwa, with a median of $360,000, are up 16.1 per cent.
Mr Forde said the area’s affordability and historic low interest rates were also a strong factor.
“Winter was great, this month has continued like the past three and it’s looking like that will continue throughout summer as well,” Mr Forde said.
Tom Gray on the balcony of his new beach house at Middleton. Picture: Keryn Stevens
LJ Hooker Fleurieu principal John McGarry said buyers were hungry for properties. “It would be very rare over the past three months to have been dealing with just the one hopeful purchaser,” he said.
Financial adviser Tom Gray bought a Middleton beach house for his family last month after struggling to find the right beach house to rent in recent years.
“I think with COVID, it’s going to get even harder,” Mr Gray said.
“So we bit the bullet and bought a place where we can holiday together and I’ll work down here part-time.
“The plan is to keep it for the next 20 years or so, so it should see some good value growth in that time.”
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