Apollo Bay farm with beach views and its own waterfall sells after auction
A more than 30ha property in Victoria’s southwest sold after its auction, set to be transformed from a long-running beef farm to a lifestyle home. SEE MORE.
An Apollo Bay property with its own waterfall sold after its auction on Saturday morning.
The farmlet at 6090 Great Ocean Rd spans about 32ha and was offloaded for more than $3.01m after it was passed in, initially with a $3.7m-$4m price range.
From every corner of the property, used as a beef farm for the past 53 years, there are views out to the Apollo Bay harbour, and a 20m waterfall which feeds into Stony Creek that runs through the land.
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Charles Stewart Real Estate Colac listing agent Josh Lamanna said there were about 20 people at the auction.
“We had an absolute abundance of inquiries on the property. It was an absolutely fantastic turnout,” Mr Lamanna said.
“The market for unique properties, they are still attracting genuine buyers in that agricultural slash lifestyle sector.”
He added that the acreage had was going to be transformed into a lifestyle property by the purchaser.
Barry Plant head of growth Mark Lynch said there had been some strong auction results on Saturday, especially for homes under $1m which were attracting three to four buyers each.
“Investors seem to be coming in from other states having a look back into Victoria,” Mr Lynch said.
He added that stock levels were still fairly tight since the break in the market over the festive season, which was potentially driving the clearance rate up slightly.
Mr Lynch said interest rates were most likely at their peak and once they came down a bit this year, that would stimulate the market to be more positive.
“I think a few of the financial institutions are already factoring in a bit of growth this year,” he said.
“We could see 3-5 per cent growth this year, which would be fairly positive.”
PropTrack research revealed the preliminary clearance rate was XX per cent from XX reported results.
However, the number of scheduled auctions across Victoria was down about 30 per cent from this time last year.
REA Group senior economist Anne Flaherty said this was because people felt more confident selling their homes via auction in a market where property prices were rising and there was a lot of competition.
“But in Victoria, there’s still a lot of homes on the market at the moment, and some of these properties are left over from last year,” Ms Flaherty said.
“In a cooler market, people might feel less confident to sell via auction.”
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Originally published as Apollo Bay farm with beach views and its own waterfall sells after auction
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