Town by Town Snapshot: Ocean Grove

January 28, 2021 BY

This charming three-bedroom Ocean Grove cottage sold recently for $775,000.

The size of Ocean Grove is about 18.5 square kilometres and has 13 parks covering nearly 6.2 per cent of total area.

The population of Ocean Grove in 2011 was 12,555 people and by the 2016 Census the population was 14,161 showing a population growth of 12.8 per cent in the area during that time.

There has been significant growth in Ocean Grove since the last Census, boosted by developments like Kingston and Oakdene estates that have been going gangbusters in recent years, driving the population quickly towards 20,000.

The past five years has seen a massive investment in residential real estate with nearly 2,000 homes exchanged, 300 units and just on 1,000 blocks of land.

Supporting this residential growth is the popular Kingston Village that services much of the new growth area and more. Although Ocean Grove’s origins date back to the 1870’s with the establishment of a Methodist camp, the early 1950s saw many post war European migrant families settled in Ocean Grove, mainly Dutch, Polish, German and Yugoslav.

Ocean Grove underwent a building boom during the 1970s and 1980s, but even during the previous decade it became evident that urban growth would be paramount.

In 1962, long-time residents raised money to purchase a 143 hectare piece of land considered to be the last significant bushland in the area.

Named the Ocean Grove Nature Reserve, it is a habitat for a rare small blue butterfly which breeds in ant nests.

The area east of old Ocean Grove was known as Collendina which has the Shell Road Recreation Reserve, a State primary school (1993) and secondary college (1992) and a Catholic primary school (1982).

Ocean Grove is the largest town on the Bellarine Peninsula and performs an increasing dormitory role to Geelong, and the number of holiday homes has declined as more families make Ocean Grove home.

CoreLogic data indicates the predominant age group in Ocean Grove is 0-9 years with households in Ocean Grove 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 Ocean Grove work in a professional occupation.

In 2011, 75.8 per cent of the homes in Ocean Grove were owner-occupied compared with 76.1 per cent in 2016.

The former HMAS Canberra was scuttled about 4 kilometers offshore from Ocean Grove and opened to divers as an artificial dive reef in 2009.

Population: 14,161

Male: 48%

Female: 52%

Median age: 42

5 year population change: 12.8%

Median house price: $757,250

Change in Median Price: (5yrs) is 41%

Median asking rent per week: $420

Average length of ownership: 11 years

Owner occupiers: 72%

Renters: 28%

Historic median house price:

October 2020: $757,250

October 2019: $687,500

October 2018: $685,000

October 2017: $610,000

October 2016: $540,000

House sales per annum:

Period ending October 2020: 374

Period ending October 2019: 321

 Land median sale price:

October 2020: $365,000

October 2019: $350,000

Land sales per annum:

Period ending October 2020: 179

Period ending October 2019: 85