Finally!! After 9 years of intense lobbying from residents, the sale of the Bay Central Council rubbish depot was concluded by tender process with DevBuild Corporation emerging as the preferred developer/builder. The 5.5 hectare site is to become a mixture of high density (Bayview Road), multi-use (Bridgewater Road) with 25 premium allotments being offered as absolute beachfront.

As the appointed agent, I am already receiving expressions of interest from buyers wanting to secure land and an official launch release is scheduled for early April. I encourage interested parties to continue to contact me about registering their interest as Stage 1 of this exciting development comes to fruition.

Despite clearance rates declining elsewhere in Australia, auctions in the Bay Central area were up 9% for the quarter to a record high of 83%. Of 232 auctions conducted so far this year, 211 were sold under the hammer with 91% reporting sales over and above vendors’ reserves and expectations (source HouseSales.com).

This phenomenon reinforces buyer confidence in the area with many families gravitating towards the suburb for its visual appeal, beach lifestyle, mix of amenities and recent infrastructure upgrades which have transformed the once semi-industrial port into a trendy beachside locale. Combined with easy commuting to the city, this influx also bodes well for property investors as letting vacancy rates are at an all time low.

As an agent/auctioneer, I encourage those considering selling to take advantage of the increased buyer influx as we have many cashed-up under-bidders who are very keen to purchase property in the area.

Conducting an auction last weekend, mayhem reigned as two rottweilers being walked (unleashed) descended on the crowd scattering bidders and onlookers everywhere. Most made it into the safety of the house, several jumped in the pool, I ended up on the roof of a car ripping my pants in the process and one little old lady brave-as-you-like stood her ground laughing as the throng sought refuge anywhere they could. It turned out the dogs were harmless and were purely bounding around playfully. Just as well the house sold for $73,000 over reserve (my gavel has the teeth marks as a souvenir)!