Real Estate

Connewarre house prices have jumped 30 per cent in a year

Written by The ReReport
As seen in the Source link, written by on 2018-12-15 02:43:15

A GEELONG rural community most buyers had trouble locating in the past has become the region’s hottest property market.

House prices at Connewarre, which is wedged between Armstrong Creek, Barwon Heads and Breamlea, jumped 30.4 per cent this year to reach $1.2 million, new figures from show.


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Bellarine Property agent Peta Walter said the area has two distinct markets — high-end homes in the estates surrounding the 13th Beach Golf Links near Barwon Heads, and lifestyle properties on farm blocks.

Data shows 35 properties changed hands in 2018, with the highest sale at $3.3 million for four-bedroom custom built house on a 2ha Barwon Heads Rd property.

Ms Walter said most of the available land around 13th Beach has been exhausted, driving the market for buyers keen to secure high-end homes near the clubhouse and beach access.

“People are realising that for the generous property you can buy out there you can walk to the beach, you get a lot of open space and you get a bit more for your money then you can in Barwon Heads,” Ms Walter said.

“You realise what an amazing location it is and it’s so close to the beach and it’s really nice for families because there’s quiet streets and big open spaces.”

Barwon Heads’ median house price hit $945,000, the data shows.

Ms Walter said the acreage market at Connewarre had been phenomenal this year.

“There was probably a long time when you would say Connewarre and people would ask “where’s that” but it’s really taken off.

“That’s driven by the development at Armstrong Creek — the supermarkets and the schools and it gives acreage property with accessibility to living.

Ms Walter said Connewarre was undergoing a demographic shift with long-term families downsizing, while young families embrace the open space and the chance to get a pony or a big yard.

Richardson, Newtown agent Will Richardson said Connewarre was part of a ribbon of communities in a 20-minute radius of Geelong where lifestyle properties were in demand — including places like Gnarwarre, Barrabool, Moriac and Paraparap.

But he said buyers weren’t looking at the subdivision potential of the farms, because it could be 20 or 30 years before the Geelong’s urban fringe will look further beyond Armstrong Creek.

“It’s the location that’s between Torquay and Barwon Heads and close to Geelong.”