Town snapshot – Apollo Bay

Town Profile: Apollo Bay

The size of Apollo Bay is approximately 87.1 square kilometres with 18 parks covering nearly 52.7% of total area.

The population of Apollo Bay was recorded at 1,618 in 2016 and by the 2021 Census the population was 1,790 showing a population growth of 11% in the area during that time.

Apollo Bay is a coastal township and holiday resort on the Great Ocean Road between Lorne and Cape Otway with a captivating bay that faces east which is further protected by a breakwater.

Critical repairs to Apollo Bay’s harbour structures, including the rock wall, have been undertaken recently to ensure the best outcome for this iconic asset.

The government committed $2.8 million works to deliver long-lasting protection for the harbour and enhanced safety for locals and visitors.

The harbour is home to commercial fishing and recreational boating and is a major drawcard for locals and tourists as a key destination along the scenic Great Ocean Road.

Apollo Bay is fast becoming a popular getaway destination for those looking for a coastal escape and is being marketed as a town to visit in any season with so much on offer.

After a slump during Covid, visitors and holidaymakers have returned with gusto as they are once again able to hit the waters of the Southern Ocean, wander the coast and explore petrified rainforests full of waterfalls, ferns and crystal-clear streams.

Swim, dive, surf and paddle out in the pristine coastal waters, take a dip at the beach, climb aboard a surfboard or kayak, and get up close to local seal colonies, Apollo Bay has it all.

Anglers have plenty on offer too, with a deep-sea fishing adventure at the top of the list.

For the landlubbers, there are sunset beach rides on horseback, gift shops, galleries and teahouses along with countless culinary delights to choose from.

Fishing is an important local industry, so seafood is always on the menu at the local cafes and restaurants.

The town origins began when in 1846 the schooner ‘Apollo’ sheltered in the bay on the way from Port Phillip to Portland.

A few years after that event, timber cutters began taking timber from Apollo Bay and Lorne, and by 1853 the coast had been surveyed in detail and there were several timber camps.

A township proposed to be named Middleton, was surveyed on Apollo Bay.

The combination of a relatively sheltered bay, the best of the limited flat land along the coast and the Cawood settlement finally stimulated the sale of town lots (renamed as Krambruk) in 1877 which could only be accessed by coastal vessel or by pack track over the ranges.

A butter factory was opened in 1904 and in 1914 a bush nursing centre was opened.

In 1936 a telephone cable was laid linking Apollo Bay, King Island and Tasmania.

CoreLogic data indicates that the predominant age group in Apollo Bay is 60-69 years with households in Apollo Bay being primarily childless couples and are likely to be repaying on average $1,700 per month on mortgage repayments, and in general, people in Apollo Bay work in a labourer occupation.

 

AGENT PERSPECTIVE:

“As we come to the close of 2024, property owners, on the whole, seem to be financially secure and buyers who hesitated last year due to market uncertainties are now slowly rejoining others who remained active throughout.

“Corelogic data reveals a -10.98% 12 month change in value in the Apollo Bay market with this trend being evident along the Surf Coast, Bellarine and even Mornington Peninsula.

“Though the general trend we see in price cycles is when prices are falling, more expensive areas tend to, on average, see larger falls.

“On the flipside, when prices are rising more expensive areas tend to see a larger upswing.

“Despite current concerning trends, the future of housing opportunities at the Bay is looking bright, with house prices averaged across the country forecast to rise between 4 per cent and 6 per cent next year, according to Domain’s 2025 Forecast Report.

“The combination of aggressive inflation increases being in the rearview and a reduced cash rate, coupled with rising sentiment and Aussies feeling more positive about the overall economic outlook, will be a strong catalyst in encouraging buyers back to the market.“Apollo Bay has been named as one of the top 5 Victorian towns to purchase your dream beach house by Anthony Webb, Belle Property and Hockingstuart’s head of Victoria, who recently shared his top five picks for Victorian holiday getaways with Domain.

“Offering one of the top beaches in Australia, Links Golf Course & boat harbour, our coastal hamlet at the foothills of the Otways presents an unmatched lifestyle opportunity.

“Apollo Bay is the only coastal town with future subdivision, we’ve got plenty of blocks for sale, something other coastal locations cannot offer.

“After something established? There are plenty of hidden property gems representing excellent value in the market, seeking their next owners.

“Long term growth for Apollo Bay looks secure because our compound growth over 10 years is always consistently strong.

“It is always worth remembering that real estate is a long-term investment and investing in lifestyle destinations like Apollo Bay will be a strong investment, property values can change quickly.”

Darren Brimacombe – Director – Great Ocean Road Real Estate Apollo Bay

TIDBIT:

The town origins reportedly began when in 1846 the schooner ‘Apollo’ sheltered in the bay on the way from Port Phillip to Portland

Population: 1,790

Male: 50.2%

Female: 49.8%

Median age: 52

5 year population change: 11%

House median sales price: $912,500

Change in median price: (5yrs) 60.5%

Median asking rent per week: $500

Average length of ownership: 14 years

Owner occupiers: 66%

Renters: 34%

House median value:

August 2024: $1,028,000

August 2023: $1,070,000

August 2022: $1,111,000

August 2021: $1,041,500

August 2020: $718,400

House sales per annum:

Period ending August 2024:30

Period ending August 2023: 24

Land median sale price:

August 2024: $412,500

August 2023: $410,000

Land sales per annum:

Period ending August 2024: 12

Period ending August 2023: 9