Town snapshot – Ocean Grove

THE size of Ocean Grove is about 18.5sqkm and has 22 parks covering nearly 16.5 per cent of total area.

The population of Ocean Grove in 2016 was 14,161 and by the 2021 Census the population was recorded at 19,394 showing a population growth of 37 per cent in the area during that time.

There has been significant growth in Ocean Grove since the last Census with nearly 1,000 vacant lots and over 1,800 homes exchanging hands in recent years driving the population quickly to beyond 20,000.

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 1950’s 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 1970’s and 80s’, but even during the previous decade it became evident that urban growth would be paramount.

In 1962 long time residents raised money to purchase an 81 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.

Ocean Grove is the largest town on the Bellarine Peninsula and performs an increasing dormitory role to Geelong, with the number of holiday homes declining as more families make Ocean Grove their 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 on average $2,000 per month on mortgage repayments, and in general, people in Ocean Grove work in a professional occupation

 

AGENT PERSPECTIVE:

“The first six months of 2025 have brought a noticeable shift in the Ocean Grove real estate market.

“While activity remains steady, the dynamics of buyer and seller behaviour have evolved in response to external pressures, most notably, land tax increases and ongoing cost-of-living constraints.

“These rising taxes have triggered a significant increase in holiday homes being listed for sale.

“With ownership costs climbing, many part-time property holders are opting to divest. “Interestingly, this has coincided with a strong wave of demand from owner-occupiers.

“We’re now seeing the majority of Ocean Grove sales going to permanent residents, families, retirees, and professionals making a lifestyle move to the coast.

“If you’re considering selling a holiday home, now is the time to think like a buyer.

“Small updates, such as improving heating and storage, or presenting spaces for full-time living, can dramatically increase your appeal to this new wave of purchasers.

“If you need advice, we’re here to help you prepare a strategy that maximises your result.

“In terms of market segments, there’s strong and consistent demand for well-priced properties under $1,500,000.

“This sector is moving well, and with more interest rate cuts expected in the coming months, confidence is likely to increase further.

“For buyers, the time to act is now, while conditions are balanced and opportunity is ripe.

“For sellers, premium selling time is just around the corner, so get ready, and be prepared to tweak your presentation or pricing strategy to meet the market.

“At the top end of the market, 9 sales have occurred above $2 million so far this year.

“While that’s a solid result, it’s notably down on previous years, where we would typically see closer to 18 sales in that price bracket within six months.

“The prestige buyer is still present, but more price-sensitive than before.

“This underscores the importance of sharp pricing and tailored marketing to engage the right audience.

“The broader market is holding firm, with a more balanced relationship between supply and demand compared to last year.

“Vendor expectations have largely adjusted to the current environment, and we’re seeing well-presented, well-priced homes still achieving strong interest.

“As always, property is a long game, while the market continues to adjust to new conditions, Ocean Grove remains a highly desirable coastal location with enduring appeal.

“For sellers, it’s all about understanding the current landscape and preparing accordingly.

“For buyers, it’s a moment to secure quality property in a more considered and less frenzied market.”

Andrew Kibbis – Bellarine Property, Ocean Grove Team

TIDBIT:

In 2009, the former HMAS Canberra was scuttled and opened to divers as an artificial dive reef a few kilometers off Ocean Grove

Population: 19,394

Male: 47.5%

Female: 52.5%

Median age: 44

5 year population change: 37%

House median sales price: $957,500

Change in median price: (5yrs) 33.9%

Median asking rent per week: $580

Average length of ownership: 12 years

Owner occupiers: 81%

Renters: 19%

House median value:

May 2025: $1,026,000

May 2024: $1,045,600

May 2023: $1,107,700

May 2022: $1,246,500

May 2021: $1,019,550

House sales per annum:

Period ending May 2025: 309

Period ending May 2024: 295

Land median sale price:

May 2025: $528,000

May 2024: $493,000

Land sales per annum:

Period ending May 2025: 29

Period ending May 2024: 43