Demand after fires
LAND is in high demand in Wye River, two years on from the Black Christmas bushfires.
Of the 98 homes that were lost in Wye River, about 16 blocks that were former home sites have either sold or are for sale, while five houses have been rebuilt with many more under construction.
Great Ocean Road Real Estate, Lorne agent Michael Coutts said there had been some excellent land sales in the fire-affected areas of Dunoon Rd, Karingal Drive and Durimbil Ave.
“That is the segment of the market that is flying,” Mr Coutts said.
“We are getting strong prices, the ocean view has opened up as a lot of trees were removed in the clean-up and a lot of sites that didn’t have views do have a view now.
“It goes to show on the coast how important an ocean view is.”
While many have decided to sell their land, a recent community intention survey conducted by the Colac Otway Shire suggested the majority of landowners intend to rebuild.
Colac Otway Shire acting chief executive Robert Dobrzynski said there were 52 houses with approved planning permits and another 17 planning applications for replacement houses currently being processed.
Mr Dobrzynski said 14 re- placement houses were under construction and five houses had already been completed.
Mr Coutts said he was seeing a new intake of buyers in Wye River looking to buy land after some landowners decided not to rebuild.
“It is mainly Melbourne buyers with a sprinkling of Geelong and Ballarat buyers. It is a lot of new people coming in,” he said.
“A lot of people want to land bank, secure a piece of Wye and worry about it down the track.”
Nineteen blocks of land including have h sold eight in Wye former River house since the 2015 Christmas bushfires, sites.
There are 10 blocks of land for sale at the moment and eight of these were former house sites.
One block of land for sale is 28 Durimbil Ave for $469,000. Before the fires it was known as Totties Place and was a holiday house for Geelong photographer Mark Strachan and his family.
The property was for sale at the time of the fires and, despite initial plans of rebuilding themselves, Mr Strachan said they decided to put it up for sale again.
“(After the bushfire) we proceeded to have a new design made and council approved but then saw other opportunities in Melbourne that we invested in,” he said.
“If it doesn’t sell we won’t be too heartbroken as we have a wonderful piece of land.”
Mr Coutts has sold four blocks of land in Wye River since Christmas ranging in price from $158,000 to $300,000.
“They are all entry to midpoint blocks,” he said.