Data from Domain in 2021, show that some bayside suburbs of Melbourne that were five kilometers or less from the beach, saw a price increase of as much as 30%. Black Rock recorded the highest price hike of 30.6%, followed by Mentone and Frankston South with a 29% increase. Other bayside suburbs that increased in value were Albert Park, St Kilda, Seaford, Carrum and Frankston.
In her January 29 article from domain.com.au, Elizabeth Redman explains that the pandemic caused a shift in location preference for real estate buyers, given that work from home was a possibility for many people. The appeal of a bayside suburb is not just proximity to the beach but more open space, local walking trails and the ability to get to the city if needed for work, two or three times a week.
With this increase in value, sellers in these beachside areas are also benefiting as a large equity gain can potentially open up other options allowing them more leverage with future real estate decisions.
Have you always wanted a sea change? Or is now the right time to sell? Talk to us about your plans and we can help turn your dream into a reality – without the stress of working it all out on your own. The huge benefit of a property advocate is that they can help you navigate the entire buying or selling process, every step of the way.
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By Wendy Chamberlain
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With a passion for all things real estate spanning 20 years, Wendy loves that her role as a Buyers and Sellers Advocate gives her buying and selling clients an experienced voice they can trust when it comes to negotiating to buy or sell something as important as their home or investment. Wendy considers it a privilege to be asked to help others realise such an important goal as home ownership and to be trusted with that honour. Get in touch today via www.chamberlainadvocates.com.au for a no obligation chat about how Wendy can work with you and help you save time and money to secure your new home sooner.
