BUYERS waiting on banks to approve home loan applications are adding an element of unpredictability to the summer market in Jan Juc, a local agent said.
One Agency, Torquay agent Shaun O’Callaghan recently sold 4 Surfview Court, Jan Juc but said the deal took longer to finalise because banks were taking more time considering loan applications.
“It has been really hit and miss, it has been an unpredictable market but summer has been going really well,” Mr O’Callaghan said.
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He sold the 571sq m property to Geelong region buyers for $805,000, which was within the asking range.
“It will be a medium term rental and longer term they may move into it, they will be able to rent it out for about $510 per week,” he said.
The neat three-bedroom house has a kitchen and meals area that connects to the loungeroom with raked timber-lined ceiling.
There is also a large deck that has a distant coastal view in the private and fully fenced backyard.
The median house price in Jan Juc has increased 7.1 per cent in the past year to $900,000, according to CoreLogic.