{"id":35768,"date":"2020-11-12T00:23:20","date_gmt":"2020-11-11T14:23:20","guid":{"rendered":"https:\/\/timesnewsgroup.com.au\/bellarinetimes\/?p=35768"},"modified":"2020-11-12T07:57:56","modified_gmt":"2020-11-11T21:57:56","slug":"barwon-heads-property-values","status":"publish","type":"post","link":"https:\/\/timesnewsgroup.com.au\/bellarinetimes\/news\/barwon-heads-property-values\/","title":{"rendered":"Heady figures: Barwon Heads property values jump 624 per cent in 20 years"},"content":{"rendered":"

PROPERTY values in Barwon Heads have skyrocketed more than 600 per cent over the past two decades, and the ABC TV series most strongly associated with the town started it all.<\/p>\n

The REA Insights Regional Australia Report, released this month, states the coronavirus pandemic has resulted in shifts across many parts of the economy, including preferences and demand for housing.<\/p>\n

\u201cThere are two distinct trends driving up demand for regional property; lifestyle and jobs. As such, there are some areas experiencing far stronger interest than others.\u201d<\/p>\n

However, the report notes the \u201cstrong shift to beachside living\u201d in Australia over the long term. Barwon Heads is highlighted as an example, with the median house price going from $145,000 in 2000 to $1,050,000 this year \u2013 an increase of 624 per cent.<\/p>\n

Indented Head has a similar rise of 612 per cent, but lower prices of $85,000 and $605,000 respectively.<\/p>\n

Bellarine Property<\/a> director and real estate agent Levi Turner said there were multiple factors that explained the jump in Barwon Heads between the start of the century and 2020.<\/p>\n

\u201cIf you look at the whole 20 years, the catalyst of it was SeaChange<\/em>, the TV show. That was the simple part to begin with, when Barwon Heads was put on the map. People started buying holiday houses \u2013 not so much to live in, just holiday houses.<\/p>\n

\u201cWhat\u2019s happened in the past 10 years has been a bigger shift towards people living here. Even in the past six months, that shift has just changed again, because of people working remotely.\u201d<\/p>\n

Interest from Melburnians also never waned during the coronavirus-related travel and auction restrictions.<\/p>\n

\u201cIn the past four months, I think we\u2019ve sold, as a company, about 25 properties to people who never looked at it from Melbourne, which is quite a lot,\u201d Mr Turner said.<\/p>\n

He said the biggest factor over the two decades was that Barwon Heads was not only small but also landlocked, which meant demand was always high compared to growing coastal towns such as Torquay, Ocean Grove and Point Lonsdale.<\/p>\n

Mr Turner said the 624 per cent figure in the report did not come as a surprise to him, as the average annual growth in Barwon Heads over the past 10 years was just under 8 per cent.<\/p>\n

\u201cIt was that initial early 2000s where for a couple of years in a row, prices almost doubled.\u201d<\/p>\n

He said it was too simplistic to say whether such enormous growth was ultimately good or bad for Barwon Heads.<\/p>\n

\u201cIt depends who you talk to \u2013 it\u2019s good for some people and not for others.<\/p>\n

\u201cI listed a property on Sunday where they bought it in 1986 and have lived in it for 35 years. I\u2019m going to sell that now, and they\u2019re at the retirement age.<\/p>\n

\u201cYou ask them if it\u2019s been good for the town, and they\u2019d say \u2018the town\u2019s got busier, which we don\u2019t enjoy, but hopefully we\u2019ll sell at a great price and that\u2019s going to set up our retirement\u2019.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

PROPERTY values in Barwon Heads have skyrocketed more than 600 per cent over the past two decades, and the ABC TV series most strongly associated with the town started it all. The REA Insights Regional Australia Report, released this month, states the coronavirus pandemic has resulted in shifts across many parts of the economy, including […]<\/p>\n

Read More…<\/a><\/p>\n","protected":false},"author":142,"featured_media":35769,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7],"tags":[],"post_folder":[],"class_list":["post-35768","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"\nHeady figures: Barwon Heads property values jump 624 per cent in 20 years - Bellarine Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/timesnewsgroup.com.au\/bellarinetimes\/news\/barwon-heads-property-values\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Heady figures: Barwon Heads property values jump 624 per cent in 20 years - Bellarine Times\" \/>\n<meta property=\"og:description\" content=\"PROPERTY values in Barwon Heads have skyrocketed more than 600 per cent over the past two decades, and the ABC TV series most strongly associated with the town started it all. 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