Town by Town Snapshot: Leopold

March 11, 2021 BY

This older style three-bedroom Leopold home sold recently for $531,000, which is a tad under the median house price for the area.

The size of Leopold is about 26.9 square kilometres and has 17 parks covering nearly 2.7 per cent of the total area.

The population of Leopold in 2011 was 10,111 people and by the 2016 Census the population was 12,810, showing a population growth of 26.7 per cent in the area during that time.

Market activity in Leopold has been consistently strong with about 250 sales of homes per year as young families flock to this very convenient suburb.

This is also reflected in the median age for Leopold, which has continued its downward trend and now sits at 39.

Leopold was originally named Kensington, but was renamed Leopold in 1892 after Queen Victoria’s son, the Duke of Albany.

Confusion with the Melbourne suburb of Kensington was a reason for the change.

In 1852, 526 hectares of land was subdivided and offered for sale as the ‘Princely Domain of Kensington’.

Whilst the subdivision did not create a village, it provided a name and settlers depended on the Anglican church and school in Hays Road, Point Henry, established in 1849-50.

By 1865 Kensington also had the short-lived Bellarine Hotel and a community of 300 persons, mostly engaged in agriculture.

Leopold continued as a rural community until the 1960s, when industrial development at Moolap and Point Henry made Leopold a convenient dormitory suburb.

CoreLogic data indicates that the predominant age group in Leopold is 0-9 years with households in Leopold being primarily couples with children and are likely to be repaying $1,400-$1,799 per month on mortgage repayments, and in general, people in Leopold work in a trades occupation.

In 2011, 83.1 per cent of the homes in Leopold were owner-occupied compared with 79 per cent in 2016.

AGENT PERSPECTIVE:
“The Leopold market continues to go from strength to strength with no signs of slowing down.

“After the uncertainty of last year, the tail end of 2020 and start of 2021 has seen incredible growth and an incredible level of buyer enquiry.

“We are selling properties at fantastic prices, with our days on market still incredibly low.

“The lack of stock available is driving these prices, as we’re dealing with a lot of buyers who keep on missing out; time and time again!

“Leopold is now the place to be; 10 minutes to the CBD and 10 minutes to the beautiful beaches on the Bellarine – what’s not to love?”

Michaela Miller – sales consultant, Hayeswinckle Drysdale

TIDBIT:
Leopold’s population doubled during 1961-71 and doubled again during 1971-81.

Population: 12,810

Male: 48.3%

Female: 51.7%

Median age: 39

5 year population change: 26.7%

Median house price: $533,500

Change in Median Price: (5yrs) is 34%

Median asking rent per week: $420

Average length of ownership: 10 years

Owner occupiers: 82%

Renters: 18%

 

Historic median house price:

November 2020: $533,500

November 2019: $505,500

November 2018: $495,000

November 2017: $445,000

November 2016: $400,000

 

House sales per annum:

Period ending November 2020: 249

Period ending November 2019: 220

 

Land median sale price:

November 2020: $294,500

November 2019: $280,000

 

Land sales per annum:

Period ending November 2020: 15

Period ending November 2019: 18

 

Thank you for supporting local journalism!