Town by Town Snapshot: Barwon Heads

July 8, 2021 BY

This three-bedroom Barwon Heads home sold recently for $1,801,500.

THE size of Barwon Heads is about 6.8 square kilometres and has one park covering nearly 3.5 per cent of total area.
The population of Barwon Heads in 2011 was 3,535 people and by the 2016 Census the population was 3,880 showing a population growth of 9.8 per cent in the area during that time.

Barwon Heads has been a gold mine for property owners, even those who bought in only 2-3 years ago have made substantial capital gain with the median house price up by close to $300,000 in that short period, this would have been traditionally a lifetime of home ownership to see this amount of growth in value.

What hits the market in Barwon Heads does not last long as properties are snapped up quickly by regional and local buyers who are competing with escapes from the city.

The charms of Barwon Heads got national attention in the late 1990’s with the SeaChange television series, starring Sigrid Thornton and David Wenham.

For 39 episodes ABC viewers could admire the wooden road bridge, the estuary, the jetty and the ‘Beach House’, now a tourist mecca.

The series captured the penchant of many Australians to escape the city for the apparent simplicity of life in a small coastal community.

Settlement at the mouth of the river began on the eastern (Ocean Grove) side in 1854, and settlement on the other side at Barwon Heads was delayed until 1875.

By the early 1920s the township had a hotel, boarding houses and a golf links (1907) with the river bridged in 1927.Barwon Heads became a holiday destination for Geelong residents, and the provision of camping facilities on the foreshore near the Barwon Head or Bluff attracted many holiday makers.By 1970 there were nearly 1,000 sites for caravans and tents with an estimated population of 2,100 (1996) – the peak summer population reached 7,400 with holiday makers..

CoreLogic data indicates that the predominant age group in Barwon Heads is 40-49 years with households in Barwon Heads being primarily couples with children and are likely to be repaying $1,800-$2,399 per month on mortgage repayments, and in general, people in Barwon Heads work in a professional occupation.

In 2011, 74.5 per cent of the homes in Barwon Heads were owner occupied compared with 78.9 per cent in 2016.

AGENT PERSPECTIVE:
“The Barwon Heads market is up 34 per cent on the median house price in the last 12 months according to REA.

“This is incredible growth of what was an already high median price of around $1,000,000.

“Although the stock on the market as we speak it incredibly low, the volume of sales is still at average levels for us.

“So far this year our average sale price in Barwon Heads is $2,190,000 which is a real sign of the growth, the type of buyers we are seeing, and quality of homes coming to the market.”

Levi Turner – Director, Bellarine Property

TIDBIT:
The golf club house (1924) and the bridge over the Barwon River (1927) are heritage listed
Population: 3,880
Male: 49%
Female: 51%
Median age: 43
5 year population change: 9.8%
House median value: $1,330,000
Change in Median Price: (5yrs) is 60%
Median asking rent per week: $625
Average length of ownership: 12 years
Owner occupiers: 81%
Renters: 19%

House median sale price:
March 2021: $1,325,000
March 2020: $1,130,000
March 2019: $957,500
March 2018: $912,000
March 2017: $910,000

House sales per annum:
Period ending March 2021: 81
Period ending March 2020: 75

Land median sale price:
March 2021: $935,000
March 2020: $842,000

Land sales per annum:
Period ending March 2021: 12
Period ending March 2020: 2

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