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Coast attracts homeowners

REAL estate is booming around the coast. Phillip Island’s Greg Price – director and chairman of Alex Scott and Staff – said real estate had hit a new level, with renewed interest in the region across the state.
According to Mr Price, Bass Coast has been hot on the radar since last July, resulting in a rise of permanent homebuyers.
“There’s also a renewed interest in towns inland like Wonthaggi, Korumburra and Leongatha. The volume of properties available is now at its lowest since 2003,” he said.
“There’s a strong demand and properties are selling quick.”
With more Melbourne residents looking to make a sea change, there has been a shift in the property market.
In Cowes, there are no plans yet to rezone and subdivide more estates, which has driven the population into San Remo and Wonthaggi.
“The driver is that Bass Coast is just two hours away from Melbourne and the properties are good value,” Mr Price said.
In Inverloch, holiday rentals have been completely booked over summer, but estate agents are starting to see a shift.
There has been growth in the number of holidaymakers choosing Inverloch during the winter months.
Stockdale and Leggo Inverloch director Adam Leys attributed some of the growth to more businesses in the town, as well as the desire to spend more time at the coast.
Mr Leys said nothing is slated to be developed in Inverloch at this stage, and there were still a few blocks available on the popular surf beach.
“Our permanent population is fairly steady right now. The population hasn’t increased, but certainly we are seeing our part time residents more frequently,” he said.
To meet demand, Bass Coast Shire Council undertakes a Land Supply and Demand Assessment every two years.
Major growth fronts are Wonthaggi North East, Cape Paterson North, San Remo, Newhaven West, Cowes and Grantville.
Council’s acting manager strategy and growth Noel Creed said the growth means local businesses are supported, improved accessible services are provided and jobs are created, but it poses a challenge to the natural environment.
“Council is currently looking at options to protect the character of coastal areas through our planning scheme, and there are also some mechanisms in place which seek to maintain views to and from the coast, and encourage design which is sympathetic to coastal values,” he said.
Council has received rezoning requests for Cape Paterson North, Newhaven West and Cape Woolamai. These are under review and will be considered by council this year.
New coastal estates are already progressing in Phillip Island, San Remo, Newhaven, Kilcunda, Inverloch, Corinella and Coronet Bay.
In South Gippsland, Venus Bay has seen more permanent residents in town.
“It’s been absolutely flat out. It’s definitely busier than last year,” Venus Bay Alex Scott and Staff director Daniel Lawrie said.
Mr Lawrie attributed some of the population rise to good word of mouth, which has skyrocketed since the Unify Festival began drawing people to the area.
“Since the influx of people coming down during the year, permanent resident figures have shot up,” he said.
“Some are people who are choosing to retire early and are able to sell their house in Melbourne, but there are a lot of younger families too. The Venus Bay Surf Life Saving Club has received a lot of good accolades, and that attracts a lot of people.”
Mr Lawrie said most people were interested in existing blocks. They are spoilt for choice at the moment, but they will quickly be snapped up.
According to South Gippsland Shire Council, the population growth is steady.
“Coastal population has not grown in the last five years. Census boundaries have changed significantly in coastal areas between 2011 and 2016, however data suggests a very small increase in the population across all coastal towns in South Gippsland. This increase is significantly lower than growth in other areas of South Gippsland during the same period,” council’s social planning officer Vicki Bradley said.
Council has adopted a Season Population in Coastal Towns Plan in 2015 and is currently finalising planning amendments for the Housing and Settlement Strategy which addresses some coastal areas.
The 2016 Census data indicates that many retirees are moving to the larger towns that have existing services including Leongatha, Korumburra and Foster.
Ms Bradley said considering the holiday home stock, there could be a rise of new housing in Venus Bay and Sandy Point should more people choose to live permanently.

Ready to build: as the population grows, there is more demand for vacant blocks overlooking the coast. Stockdale and Leggo Inverloch director Adam Leys is pictured on one of the blocks in Inverloch’s Miller Terrace, which offers stunning views of the water.

Short URL: http://thestar.com.au/?p=24264

Posted by on Feb 27 2018. Filed under Featured. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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