Town by town snapshot: Apollo Bay

February 25, 2021 BY

This three bedroom Apollo Bay home sold recently for $685,000 a touch above the current median house price for the area.

Town Profile: Apollo Bay

The size of Apollo Bay is approximately 87.1 square kilometres with the population recorded at 1,094 in 2011 and by the 2016 Census the population was 1,618 showing a population growth of 47.9% 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.
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.
With Covid on the retreat, once again visitors will be 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.
Access to Krambruk was by coastal vessel or by pack track over the ranges.
In 1898 the name Apollo Bay (by which the settlement was generally known) was formally adopted by the post office.
CoreLogic data indicate 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 $1,800 – $2,399 per month on mortgage repayments, and inn general, people in Apollo Bay work in a labourer occupation.
In 2011, 55.8% of the homes in Apollo Bay were owner-occupied compared with 64.5% in 2016.

AGENT PERSPECTIVE:
“The Apollo Bay Market has never been stronger, following on from recent months of unprecedented activity with strong sales residentially and in the hinterlands surrounding Apollo Bay, along with new land releases also selling quickly.
“With high demand and low stock levels across the coast, competition has been fierce, resulting in multiple competitors on stock available, seeing the contract price happily exceeding the Vendors expectations in many cases.”
Darren Brimacombe – Great Ocean Road Real Estate Apollo Bay

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

Population: 1,618
Male: 48.9%
Female: 51.1%
Median age: 48
5 year population change: 47.9%
Median house price: $659,000
Change in Median Price: (5yrs) is 38%
Median asking rent per week: $480
Average length of ownership: 11 years
Owner occupiers: 66%
Renters: 34%

Historic median house price:
November 2020: $659,000
November 2019: $600,000
November 2018: $550,000
November 2017: $542,000
November 2016: $477,500

House sales per annum:
Period ending November 2020: 44
Period ending November 2019: 41

Land median sale price:
November 2020: $257,500
November 2019: $242,000

Land sales per annum:
Period ending November 2020: 29
Period ending November 2019: 32