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For most of us, buying a coastal home in Melbourne is an unachievable pipe dream. But if you’ve got your heart set on life by the water, there are alternatives. New data from PropTrack has revealed that a handful of Victorian beachside suburbs are quietly becoming some of Australia's hottest property markets, with demand surging in places where the median home price still sits comfortably below the million-dollar mark.
According to realestate.com.au, the figures measure high-intent actions on realestate.com.au – things like emailing agents, making phone calls and downloading contract documents – offering an early glimpse into where serious buyers are setting their sights. While Tasmania dominated the national rankings, Victoria scored several standout performers, with locations on the Bellarine Peninsula to the Mornington Peninsula and the state's rugged south-west coast featuring.
RELATED READ: The price gap between buying and renting in Melbourne has been revealed
Leading the pack for houses was Indented Head, where enquiries per listing jumped 79 per cent year-on-year. The sleepy Bellarine Peninsula township, perched between Portarlington and St Leonards, still has a median house value of around $760,000. Nearby Newcomb also made the list, with buyer enquiries climbing 72 per cent. Sitting just minutes from central Geelong and a short drive from the Bellarine's beaches, the suburb's median house value sits at approximately $632,000, making it an increasingly attractive option for buyers chasing a bayside lifestyle without the wild price tag.
Further west, Dennington, just outside Warrnambool, recorded a 67 per cent increase in buyer demand for houses. With a median value of roughly $651,000, it's another example of regional coastal Victoria offering plenty of lifestyle appeal at a relatively accessible price.
According to the data, units are also attracting growing attention across the state. Portland claimed the number one spot nationally, with enquiries skyrocketing by an enormous 188 per cent. The historic south-west port town has a median unit value of just $325,000, making it one of Australia's most affordable coastal markets.
The Mornington Peninsula also featured prominently. Capel Sound recorded a 64 per cent rise in unit enquiries, while neighbouring Dromana wasn't far behind with a 46 per cent increase. Median unit values currently sit at around $611,000 and $740,000 respectively.
Geelong's Newcomb appeared for units, too, with enquiries rising 46 per cent and a median unit value of approximately $491,000. Meanwhile, Wonthaggi, the gateway to Bass Coast favourites like Inverloch and Cape Paterson, saw buyer demand for units climb 45 per cent, with median values sitting at just $403,000. Even Bayside Melbourne made an appearance, with Elwood recording a 39 per cent increase in unit enquiries despite its comparatively higher median value of $639,000.
According to REA Group senior economist Anne Flaherty, rising enquiry levels are often an early sign of stronger future price performance, making these suburbs the ones to watch. She also noted that winter can be a surprisingly smart time to buy, with fewer active buyers potentially giving house hunters a little more breathing room.
If you've been considering a sea change, these coastal suburbs might just deserve a spot at the top of your weekend inspection list.
The in-demand coastal suburbs in Victoria where buying a property is surprisingly affordable
- Portland ($325,000 – median unit value)
- Wonthaggi ($403,000 – median unit value)
- Newcomb ($491,000 – median unit value; $632,000 – median house value)
- Capel Sound ($611,000 – median unit value)
- Elwood ($639,000 – median unit value)
- Dennington ($651,000 – median house value)
- Dromana ($740,000 – median unit value)
- Indented Head ($760,000 – median house value)
You can check out the full report over here.
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