Four Hidden Gems: Affordable Beach Towns Near Melbourne
Summer is here, and the beach calls! But for many families, the dream of a coastal retreat within a two-hour drive of Melbourne remains just that - a dream. The cost of holiday homes and coastal living can be prohibitively expensive. However, there are some fantastic alternatives just a little further afield. If you're willing to venture beyond the popular spots like Anglesea, Torquay, and Ocean Grove, and head west towards the Mornington Peninsula, you'll discover some incredible beachside towns that won't break the bank.
Port Fairy: A Historical Gem
Port Fairy, a four-hour drive west of Melbourne, is a charming historical beach town nestled on the banks of the Moyne River. It's renowned for its stunning river mouth surf break, vibrant creative community, and foodie culture. The town also hosts a four-day folk festival annually, adding to its allure. While a few older properties on the highway might be within reach, the majority of homes are priced out of reach for local first-time buyers.
The median house price in Port Fairy is $857,000, a 12.5% decrease from the previous year but still a 30.6% increase over the last five years. Interestingly, properties in the town center can fetch up to $1.5 million, while South Beach homes are valued at around $1.2 million, according to Sarah McCorkell, an agent at Stockdale & Leggo Port Fairy. She notes a diverse range of buyers, including first-time buyers, downsizers, and those looking to move into the area or purchase a holiday home.
Portland: A Maritime Haven
Located on the far west coast of Victoria, Portland is a maritime town boasting at least a dozen beaches and some of the state's most consistent surf spots. It offers affordable beachside living, with a median house price of $415,000, a 45.6% increase over the last five years. The town's economy is supported by industries like Alcoa's aluminium smelter, the deepwater port, forestry, logistics, and agriculture. Portland also has a thriving arts and sporting community.
Nash Wollard, an agent at Portland Seaview Real Estate, highlights the town's potential for investors. He mentions that cafes and local shops are being purchased, and this trend is impacting housing prices. A three-bedroom, two-bathroom house that sold for $280,000 in 2018, is now valued at over $400,000, with some properties reaching the mid-$500,000 range.
Venus Bay: A Creative Haven
Venus Bay, a coastal hamlet, offers a median house price of $507,500, which is 8.6% lower than the previous year but still a 41.3% increase over the last five years. Dan Lawrie, an agent at Alex Scott & Staff Venus Bay, draws parallels between Venus Bay and towns like Rye or Rosebud from 30 years ago. He notes that most buyers, around 90%, were from Melbourne and purchasing holiday homes during the COVID years. However, recently, 95% of buyers have been owner-occupiers, a positive shift in the market.
Lawrie emphasizes the town's appeal, citing its creative and artistic community, sports clubs, community center, and various recreational activities. He believes Venus Bay offers incredible value, especially for those who can work remotely thanks to the NBN connectivity.
Lakes Entrance: A Family-Friendly Escape
Lakes Entrance, located in Gippsland and a four-hour drive east of Melbourne, exudes a family-friendly vibe. With a median house price of $507,500, it's situated at the end of Ninety Mile Beach, offering access to the Southern Ocean and the entrance to Australia's extensive inland waterways. This makes it a popular camping destination.
Rachael Newman, an agent at Shoreside Real Estate, highlights the town's charm, noting that it remains untouched and offers a more affordable alternative to the Mornington Peninsula. She believes Lakes Entrance is perfect for city dwellers seeking a peaceful beachside retreat during the summer months.
These four beach towns offer a unique blend of affordability, charm, and lifestyle, providing an excellent opportunity for those seeking a coastal escape without the hefty price tag.
