The Bellarine Peninsula’s most remoted beachside city holds the area’s most in-demand waterside property, new knowledge exhibits.
Demand for houses in St Leonards virtually doubled in 2020, new realestate.com.au knowledge reveals, with curiosity in homes climbing 85 per cent and models 105 per cent.
The northern peninsula city, which is the farthest from central Geelong, can be one of many area’s least expensive areas and a well-liked summer time vacation sizzling spot with a secure seashore and fishing, with a median home worth of $550,000.
St Leonards joined Aireys Inlet and Apollo Bay within the 10 most in demand regional sizzling spots in 2020.
The information exhibits a correlation between affordability and demand, with Victoria’s Gippsland coast not solely the most cost effective, however seeing the best rise in curiosity from patrons.
Neville Richards, St Leonards agent Luke Campbell stated the push of patrons went into overdrive as soon as Melbourne’s lockdown lifted final spring.
“When Melbourne was launched we simply noticed the inquiry undergo the roof, then we noticed issues begin to transact actually shortly,” he stated.
“That worry of lacking out kicks in, which is related as a result of there may be not quite a lot of inventory now and there may be loads of purchaser exercise.”
Mr Campbell stated patrons snapped up every little thing, from probably the most fundamental unit to an entry-level seashore cottage proper by way of to costly seashore houses.
St Leonards additionally has a brand new land market, with a number of property developments in excessive demand.
Mr Campbell stated many patrons had purchased ahead their property choices on account of the pandemic, with many placing way of life entrance of thoughts.
“There’s definitely a component that’s searching for a everlasting dwelling and there may be fairly a robust factor that’s searching for way of life, with a view that may develop into their long-term retirement possibility.”
Whereas some patrons had hyperlinks to the realm, affordability was additionally driving exercise.
“For some, the place in all probability the most cost effective possibility on Bellarine. So, having been priced out of Ocean Grove, Barwon Heads or Queenscliff, that is the seemingly possibility.
“And other people truly like the very fact we’re a contact quieter. We’re not as massive by way of quantity of individuals, so that they really feel like we’ve nonetheless obtained a component of nation on the Bellarine coast down right here.”
Excessive demand in beachside suburbs has additionally pushed median costs, with the strongest development in central Geelong and East Geelong at round 30 per cent. to $884,000 and $760,000 respectively.
Home costs had additionally jumped 20 per cent at Barwon Heads to $1.16m.
Buxton, East Geelong agent Jarrod Leonard stated funnily sufficient the proximity to the town’s waterfront was not all the time patrons high precedence.
“However I feel as soon as they realise after they’re right here is how near precise waterfront is after which it turns into an actual issue,” he stated.
“From components of East Geelong and undoubtedly components of Geelong the waterfront is walkable.
“You don’t get that anyplace else in Geelong to have the ability to simply to stroll right down to the waterfront, with all of the goings on mixed with the parkland. It simply affords that way of life that our metropolis can supply.”
Geelong’s most in demand seashore sizzling spots
Suburb % Rise in demand (12 months)
St Leonards 84.7%
Aireys Inlet 83.0%
Apollo Bay 81.7%
North Geelong 69.4%
Ocean Grove 59.6%
Level Lonsdale 57.7%
Geelong’s fastest-growing seashore sizzling spots
Suburb Median worth 12 month change in worth
Geelong $883,500 32.9%
East Geelong $760,000 27.7%
Connewarre $1,615,000 26.2%
Barwon Heads $1,162,500 19.5%
Aireys Inlet $1,010,000 14.1%
Lorne $1,455,000 12.1%
Level Lonsdale $920,000 10.7%
Corio $385,000 9.7%
Ocean Grove $756,050 8.8%
Jan Juc $940,500 8.1%