Town by Town Snapshot: Fairhaven

This four-bedroom Fairhaven home sold recently for $1,300,000, which sits close to the median house price for the area.

The size of Fairhaven is about 5.2 square kilometres with the population of Fairhaven recorded at 354 in 2011 and by the 2016 Census the population was 276 showing a population decline of 22.0 per cent 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 more than 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 per cent of the homes in Fairhaven were owner-occupied compared with 83.5 per cent in 2016.

Population: 296

Male: 53%

Female: 47%

Median age: 56

5 year population change: -22%

Median house price: $1,347,500

Change in Median Price: (5yrs): 35.4%

Median asking rent per week: N/A

Average length of ownership: 11 years

Owner occupiers: 86%

Renters: 14%