Five affordable Victorian beachside towns attract property investors
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Five Victorian coastal suburbs with house prices under $1 million have emerged as prime investment locations for beachside holiday homes.
A new analysis by Belle Property and Hockingstuart ranked the suburbs based on beach access, hospitality options, recreational facilities, neighbourhood quality and distance from Melbourne.
Rosebud topped the list with a score of 43 out of 50 on the Coastal Suburb Index, followed by Portarlington, San Remo, Lakes Entrance and Apollo Bay.
Belle Property and Hockingstuart’s head of Victoria, Anthony Webb, said Rosebud’s median price of $765,000 offered value for its premium coastal lifestyle.
“Many factors make a suburb appealing to buyers, and Rosebud delivers on all fronts. From quality beach access to family-friendly recreation space and fantastic dining options, there isn’t much not to like about Rosebud,” he said.
Portarlington, a historic coastal township on the Bellarine Peninsula, ranked second with a median house price of $881,000.
The suburb offered similar lifestyle benefits to nearby Point Lonsdale at a discount of more than $250,000.
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San Remo placed third despite having the highest median price of $920,000 among the ranked suburbs.
“San Remo, the gateway to Phillip Island, scored highly based on its recreation spaces, family activity centres, walking tracks, and access to front and back beaches,” Webb said.
Lakes Entrance in eastern Victoria ranked fourth, offering the lowest median house price at $545,000.
The coastal town sits where the Gippsland Lakes meet the Southern Ocean along Ninety Mile Beach.
Apollo Bay rounded out the top five with a median price of $900,000, featuring attractions including the Great Ocean Road and Great Otway National Park.
Webb said different buyers sought varying features in a beach house.
“While somewhere like Rosebud may appeal to buyers after a getaway close to Melbourne that offers recreational facilities, others might want a quieter retreat off the beaten track and would be more inclined to look at Lakes Entrance or Apollo Bay,” he said.