Town by town snapshot: Fairhaven

The size of Fairhaven is approximately 5.2 square kilometres with the population of Fairhaven recorded at 354 people in 2011 and by the 2016 Census the population was 276 showing a population decline of 22.0% in the area during that time.

Fairhaven’s beginnings came to fruition when Robert Cowan purchased land in 1931 from John Sutherland and built a corrugated iron structure in the Gully next to the Great Ocean Road.

Fairhaven first developed as a camping area and was very popular with returning visitors.

A Foreshore Committee was formed in 1961 and the Fairhaven Surf Life Saving Club was planned around 1957 with the clubhouse eventually opening in 1960.

The club continues to be an integral part of the Fairhaven community with over 1,500 members.

CoreLogic data indicates that the predominant age group in Fairhaven is 50-59 years with households in Fairhaven being primarily childless couples and are likely to be repaying $1,800 – $2,399 per month on mortgage repayments, and in general, people in Fairhaven work in a professional occupation.

In 2011, 85.8% of the homes in Fairhaven were owner-occupied compared with 83.5% in 2016. Currently the median sales price of houses in the area is $1,446,000.

AGENT PERSPECTIVE:
“Fairhaven remains an incredibly popular area to buy in and only has 597 properties so remains very tightly held.

“Therefore, the turnover is low which means the prices keep increasing on average. “Geographically Fairhaven is a series of hills so most properties get some sort of view, whether it be ocean or of the National Park that surrounds it.”

Marty Maher – Great Ocean Properties

TIDBIT:
The Pole House, situated on a concrete column 40 metres above Fairhaven Beach was originally built in 1978

Population: 296
Male: 53%
Female: 47%
Median age: 52
5 year population change: -22%
House median value: $1,490,000
Change in Median Price: (5yrs) is 44%
Median asking rent per week: N/A
Average length of ownership: 11 years
Owner occupiers: 86%
Renters: 14%

House median sale price:
January 2021: $1,446,000
January 2020: $1,347,500
January 2019: $1,275,000
January 2018: $915,000
January 2017: $1,055,000

House sales per annum:
Period ending January 2021: 17
Period ending January 2020: 16

Land median sale price:
January 2021: N/A
January 2020: N/A

Land sales per annum:
Period ending January 2021: 3
Period ending January 2020: 2