Victoria’s beachside suburbs where homes are selling the fastest
Homes are flying off the shelves in as little as a few days in Victoria’s hottest beach markets.
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Aireys Inlet is Victoria’s fastest-selling seaside market for houses, with the pandemic pushing buyer demand through the roof.
New realestate.com.au data shows a typical house is transacting in just 24 days in the Great Ocean Road hamlet.
Mornington Peninsula suburb Blairgowrie is hot on its heels, with a 25-day median — but deals are being done even faster in the beach hot spots.
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An Aireys Inlet house “between two popular beaches” at 13 Hartley Street sold above its $1.1-$1.2m quoted range in just four days in December.
Selling agent Marty Maher, director of Great Ocean Properties, said most homes he was transacting in the town and neighbouring Fairhaven and Moggs Creek were flying off the shelves within two to three weeks — but many could have been quicker.
“We have been delaying sales a bit so we can get enough buyers through properties to have Zoom auctions,” he said.
“It’s been bedlam — with the amount of inquiry we’re getting, we’re doing Zoom auction after Zoom auction after Zoom auction.
“Stock is pretty tight, (so selling) $400,000-$500,000 over expectations is not uncommon in the above-$2m bracket.”
A modern house with bay views at 8 Narani Way attracted seven unconditional offers at the top end of its quoted range, $2.05m, before fetching hundreds of thousands more under the hammer.
Mr Maher attributed the demand to the fact “money’s cheap, people can work more flexibly now, and they’re reassessing their lives (as a) psychological reaction to getting out of COVID-19 lockdowns”.
“Aireys Inlet is also between the Great Otway National Park and beautiful beaches, plus it’s only 90 minutes from Melbourne,” he said.
In Blairgowrie, a three-bedroom house at 16 Lester Avenue changed hands just three days after it was listed for $1.3m in December, CoreLogic records show.
Kay & Burton Portsea director Liz Jensen said houses weren’t lasting long on the Blairgowrie market, as buyers sought to claim a piece of Sorrento’s more affordable neighbour.
The next speediest beachside house markets were Balnarring, Somers, Mentone and Geelong suburb Newcomb at 28 days.
A typical unit is being snapped up in 30 days in Bonbeach, 36 in Port Melbourne, 37 in St Kilda, and 44 in Barwon Heads and Mentone.
Bellarine Property director Levi Turner said a “low stock, high demand” environment was driving sales within three weeks in Barwon Heads.
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FASTEST SELLING
Melbourne – house
1. Blairgowrie: 25 median days on market
2. Balnarring, Mentone, Somers: 28
5. Mornington: 30
6. St Kilda: 32
7. Bonbeach, Rye: 34
9. Dromana: 35
10. Mount Martha: 38
Melbourne – unit
1. Bonbeach: 30 median days on market
2. Port Melbourne: 36
3. St Kilda: 37
4. Mentone: 44
5. Brighton: 52
6. Mornington: 54
7. Dromana: 79
8. Altona: 85
9. Mount Eliza: 88
10. Mount Martha: 89
Regional – house
1. Aireys Inlet: 24 median days on market
2. Newcomb: 28
3. Cape Paterson: 36
4. Jan Juc: 36
5. Geelong: 37
6. Dennington: 39
7. East Geelong, North Geelong, Barwon Heads: 41
10. Clifton Springs: 43
Regional – unit
1. Barwon Heads: 44 median days on market
2. Wonthaggi: 48
3. Torquay: 67
4. Warrnambool: 76
5. Lakes Entrance: 79
6. Geelong: 86
7. Inverloch: 120
8. Ocean Grove: 124
9. Cowes: 141
10. Lorne: 148
Source: realestate.com.au, suburbs had to have more than 10 sales and 10 listings in two consecutive years from December 2018 to be included
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