Melbourne's Bayside remains popular with residents and investors: Hodges' Paul Bond

GUEST OBSERVATION

Often cited as one of the best areas to live in Melbourne, Bayside’s suburbs are an idyll of picturesque coastlines and quality residential zones.

Stretching 17 kilometres around Port Phillip Bay, the area is within close proximity to both the beach and the CBD, making it a popular choice for home buyers. Coupled with education opportunities, shopping strips and good capital growth on property investments, Bayside offers a lifestyle that is hard to surpass.

Property prices in the area have been strong for a long time and continue to gain momentum. A number of factors help to support the property market when it comes to real estate in the area.

• Location, location, location

The Bayside region features a number of good private schools and excellent public primary schools making it a natural choice for those looking to raise a family. However, it is not just families that are attracted to the area.

Bayside’s good transport links and close proximity to the CBD make it popular among people who commute into the city for work.

Other attractive lifestyle factors include each suburbs village like setting - including low rise shopping strips, trendy cafes, green spaces and exceptional sporting facilities.

• Good investment

Property prices across all Bayside suburbs have remained strong. The median property price for a house in Brighton is $1,635,000 and $720,000 in Mentone.

All of Bayside’s suburbs are considered to be high demand areas, with the number of people viewing each listed property higher than the state average.

The area also remains a popular choice for investors looking to purchase rental properties - with almost 22% of the region’s residents living in rented accommodation. The Median rent across the Bayside precinct is $600 per week for a house and $400 per week for a unit. Both have a median rental yield of around 4%.

• Variety 

Bayside is home to some of the most desirable property types in Melbourne. The area sees a host of different property styles in each suburb and with such variety, there tends to be something to suit all budgets.

Much of the traditional architecture is well preserved across the region and each area has a slightly different style and price bracket.

Brighton is one of the most affluent Bayside suburbs and the property on offer reflects this. The area has a number of larger traditional homes and mansions and in recent times has experienced an influx of luxury developments.

Property prices in Beaumaris vary and the area is popular for its large blocks of land and traditional Beaumaris style homes.

Sandringham is home to a number of Edwardian style properties and California bungalows.

Mentone is one of the most affordable Bayside suburbs - buyers can purchase modern townhouses and as units here among other styles.

Bayside will continue to be a good choice for buyers looking for a good investment.

The demand for rental properties and home ownership in the area continues to grow as do developments.

Paul Bond is a director of Hodges Real Estate Sandringham.