Victoria's cheapest beachside suburbs and towns
A small South Gippsland “fishing village” about three hours from Melbourne is the best spot to find a bargain beach house in Victoria.
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A small South Gippsland “fishing village” about three hours from Melbourne is the best spot to find a bargain beach house in Victoria.
A typical house in McLoughlins Beach will only set you back $274,000, making it the state’s most affordable seaside market, according to new PropTrack figures.
But local agents say an influx of Melbourne-based holiday home buyers since the onset of Covid-19 is driving up prices and demand.
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“We’ve certainly got bargains,” Tarra Real Estate Yarram director Ian Seed said.
“But because it’s known as one of the cheaper areas to find a holiday home in South Gippsland, it’s getting more attention.
“The number of Melbourne people buying in has increased – the locals are astounded.”
The town’s median house price has rocketed 34.5 per cent in the past year, according to
PropTrack. And Mr Seed said his office had sold about 160 properties in McLoughlins Beach, nearby Yarram and surrounds in the past year – more than triple its usual turnover – with many of them snapped up before they could even hit the market.
There were less than 300 permanent residents at the time of the most recent census in McLoughlins Beach, which the agent said had a jetty but “no shops”, with locals required to drive to Yarram for supplies.
“People who come here want peace and quiet,” he said.
Mr Seed said the region’s more “premium hamlet”, Port Albert, had more amenities and a rich maritime history, but also a slightly dearer median house price of $335,000.
Either side of Port Albert on PropTrack’s list of Victoria’s cheapest beachside house markets were Paradise Beach ($288,500 median), Golden Beach ($311,250), Portland ($360,000) and Toora ($385,000).
Hastings was the most affordable spot in metropolitan Melbourne, with a typical house costing $610,000, followed by Crib Point ($720,000), Frankston ($729,398), Werribee South ($747,500) and Capel Sound ($762,500).
OBrien Real Estate Frankston agent Luke Magree said his patch offered “good value” compared to neighbouring suburbs, including Seaford, Frankston South and the booming Mornington Peninsula postcodes.
“And you can spend the same amount of money you would on a unit closer to the city and have a house by the beach,” he said.
“About half the owner-occupier buyers I speak to mention wanting to be close to the beach – it is one of the most underrated beaches.”
Mr Magree added the suburb was shaking the “stigma it has had for the last decade” as younger people were lured in by the affordability and set about improving the housing stock.
Frankston High School had also become a big drawcard.
Meanwhile, Portsea’s $3.4m median house price made it the state’s priciest beachside house market, according to PropTrack, with Flinders and Brighton also topping $3m. Beaumaris, Black Rock and Brighton all had $1m unit medians.
Regional Victoria had nine million-dollar seaside house markets, led by Lorne ($1,792,500), Connewarre ($1.68m) and Barwon Heads ($1.49m), and two postcodes with $1m unit medians, Barwon Heads and Anglesea.
FRANKSTON TICKS ALL THE BOXES
Affordable, check. Family friendly, check. Close to the beach, check.
Frankston ticked a lot of boxes for Maya Kafrouni and Luke McMahon when they were looking for somewhere to start a family, and where their “two big dogs”, Hank and Skittles, could enjoy more space.
They bought a “fairly rundown” house on a decent 612sq m block “fairly cheaply” seven years ago, and renovated it into the stylish, low-maintenance three-bedroom abode that stands today.
They’re now selling that home at 186 Beach St, with an auction set for February 5 with a $730,000-$800,000 price guide.
But they’re only doing so to move around the corner to a bigger property with sons James, 4, and Lewis, 7 months.
“I think we’ll be here a while,” Ms Kafrouni said of the suburb.
Mr McMahon added: “Frankston is wonderfully positioned where you’ve got the sandy Frankston beach, plus beaches going up to Mordialloc, and then lots of rocky coves to go to, which are great with young kids.
“And it’s quick to get down to Red Hill for the wineries, to Sorrento and Portsea, and across to Western Port Bay.”
Other lifestyle perks they had discovered included “lots of dog parks and cafes”, shopping centres and train access.
“Both our kids were born at Frankston Hospital – there’s no particular reason to leave,” Ms Kafrouni said.
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