Chapter 1: What are the challenges of coastal living affordability near Melbourne?
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Today marks the 107th anniversary of the landings at Gallipoli. The Australian and New Zealand forces landed on Gallipoli on the 25th of April, meeting fierce resistance from the Ottoman Turkish defenders. What had been planned as a bold strategy to knock Turkey out of the war quickly became a stalemate, and the campaign dragged on for eight long battle-hardened months.
By the end of 1915 the allied forces were evacuated from the peninsula with both sides having suffered heavy casualties with a large number of wounded soldiers. More than 8,000 Australian soldiers died in the campaign. Gallipoli had a profound impact on Australians at home and the 25th of April soon became the day on which Australians remembered the sacrifice for those who died in the war.
Although the Gallipoli campaign failed in its military objectives, the actions of Australian and New Zealand forces during the campaign left a powerful legacy. What became known as the Anzac Legends became an important part of the identity of both nations, shaping the way in which they viewed both their past and their future.
Chapter 2: Which coastal locations near Melbourne offer affordable living options?
ANZAC Day also serves to commemorate the lives of Australians who died in the Second World War, and in subsequent years the meaning of the day has been further broadened to include those who lost their lives in all military and peacekeeping operations in which Australia has been involved. ANZAC Day, least we forget. Across every state, city and town of Australia, the Real Estate Podcast.
And coming up in just a moment we're going to be talking coastal living and more importantly whether that can be achieved in one of our metro cities that is reasonable in cost, in other words affordability. But first let's check out the weather forecast around Australia's most important day.
It's the main centre forecast with propertybuyer.com.au. And for Sydney, expecting some showers today, a high of 22 degrees. Melbourne, partly cloudy with 21. Brisbane, one or two showers with 25 degrees. And in Perth, expecting a late shower today and a high of 29 degrees. We feature market updates, interviews and trends. It's your real estate podcast for breakfast.
Well, we've talked previously on the podcast about the migration of coastal living, all sorts of sleepy towns that have suddenly over the last couple of years been the laser focus for buyers from Sydney, Melbourne and Brisbane.
But a question this morning, are there any locations that are coastal which are still viable for people in, say, Sydney or a Melbourne location, for example, with a quieter, more relaxed lifestyle to enjoy? Well, it turns out that there is a place in Melbourne.
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Chapter 3: How has infrastructure development impacted property values in coastal areas?
Greg Sherwinsky from Ray White is there this morning on the streets, taking in the water view and relaxing with a morning coffee, really just watching the world go by. Good morning, Greg. Welcome to the Real Estate Podcast. Good morning. How's the coffee? Yeah, great. Been for the morning run here along the beach. We got a beautiful day here, sunny, light breezes, flat water. Yeah, running along the beachfront this morning was awesome. Boats are out fishing, having a coffee before I get into the day.
Yeah, okay. Well, you better tell our listeners where this location, this coastal location is. Well, we're 25 kilometres south-southeast from Melbourne, so an easy commute into the city. Nice little harbour as well, fishing boats, all that sort of stuff, but easy commute into the city. Yeah, we're super popular at the moment.
And I'm guessing that this is a bit of a well-kept secret from people living interstate, or has the secret managed to escape and filter out, Greg? I think given the demand we've got at the moment, we've seen some softening around Australia on markets at the moment. We haven't. We've sort of got limited stock and still got high demand. I would think maybe the secret has got out.
Yeah, OK. And a few days ago I was talking about the importance of infrastructure and how valuable it is if you can get ahead of anything valuable in the way of roading, schooling, different amenities. And it turns out that last year in your area you had a freeway, a nine kilometre bypass between Clayton and Frankston. So what sort of a difference did that make in terms of property values?
Oh, it's been fantastic. So, especially for what was some of the busier roads around here, some of the reports coming back have been a 50 or 60% reduction in traffic. And we've seen some properties go to the market since that freeway opened that were on busier roads that have become quieter and remarkable increases in prices. It also means the amenity for the area has improved as well as far as, you know, if you wanted to go surfing down the peninsula, it's got easier.
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Chapter 4: What lifestyle changes have influenced the demand for coastal properties?
And obviously, if you want to head up towards Clayton Way, it's got easier as well, so you jump on the freeway. Infrastructure in any marketplace in Australia increases property values, and that's happened around here as well. Yeah, and how much of a factor from either buyers locally or further afield are you hearing the request about just wanting to live quieter, like a more tranquil, peaceful lifestyle with a setting of less traffic?
Oh, 100%. COVID's done that. People want amenity, they want the beach life, they want a quieter life, but they also, you know, and a lot of them are working from home. Yeah, all that comes into it at the moment. But also having everything on your doorstep is very important to everybody we deal with.
Yeah, we seem to just want it all these days. The market has definitely gotten a little bit softer as a result. Vendors' expectations have to be adjusted. But what are you seeing in the local market? You mentioned that, you know, things are still sort of moving forward. Yeah, we've still got a strong... The question will be here. There's sort of a degree of uncertainty at the moment.
In relation to the marketplace with, you know, potential interest rates, discussions around elections, we're still seeing prices are quite strong. It's a great time to be selling from the point of view that the prices are still what they were due to demand and because of the area we haven't seen the, you know, the softening of the market that some markets have seen around Australia.
And classic homes with a good size block on them, I understand you can get that where you are with room for the boat and a caravan or perhaps a motorhome, sort of enough land to spread your legs out? 100%, yeah, we've still got them.
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Chapter 5: Where exactly is the hidden gem for affordable coastal living near Melbourne?
There's only between 600 and 800 blocks, sometimes bigger, but they come up, not as many as we would like, of course. If we had more, we could sell more, but the people that are here tend to hold on to them fairly tightly, so when they come up, they're pretty hotly contested. And conversely, what about the main street? There's been a bit of a development there for apartments, so people that are looking at maybe downsizing or just living that apartment lifestyle, there's a bit of that going on?
Yep, noticed that in particular during COVID had some apartments getting up to, you know, one and a quarter million dollars in the main street. Apartments popular, again, that low, you know, low maintenance, easy lifestyle, but also having everything on your doorstep. You know, there's plenty of good cafes with more cafes and restaurants opening here as well. I know we got a three level Mexican opening shortly. Yeah, there's another special beer, a specialty beer bar opening up shortly. And that's already on top of multiple cafes, restaurants and bars and
and sporting clubs and stuff like that so yeah there's more to come and people with apartments want all that they walk out their front door into the main street and it's there so that's working out really well and you talked about going for that morning run you've got a beautiful landmark there a 200 meter pier and all of the beaches does your run sort of involve the running on the pier in the morning yeah absolutely yeah run out the pier and then down along we've got a path that leads all the way down to mentone
Anybody who wants to run all the way up and back, which I do sometimes, it's 4km each way, so you've got about 8km, 9km of running with the sand right next to you on a solid paved path all the way, which is an awesome run. We have painted the picture. People are probably holding on wondering where is the location. I know it's close to Melbourne, so you better reveal to those listening where you are.
Yeah, we're down in Mordialloc, which is, like I said, 25 kilometres south-southwest of the city, and down on the beach at Mordialloc. Well, it sounds idyllic, Greg. Thank you so much for coming on to the Real Estate Podcast this morning, and yeah, I guess it's sort of business as usual for you in 2022. Yep, absolutely. Hope to see a lot of your podcasters come down to our area and check it out and see if they like it as much as we do.
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