Nestled in the stunning Mornington Peninsula of Victoria, Blairgowrie spans approximately 6.2 square kilometres, adorned with seven lush parks covering nearly a fifth of its total area, and where uniquely, a majority of houses are within comfortable walking distance to both the bay and ocean beaches. The jewel in its crown is the more than 6km of beach front, with 2.4km of safe-swimming bayside beaches between Canterbury Jetty Road and Hughes Road and approximately 4kms of spectacular ocean shoreline between Hughes Road and Tasman Drive; a point at which the suburb of Rye begins.
The township experienced a noteworthy population surge in the past decade, with 2011 recording 2,162 residents and 2016 marking a 8.9% increase to 2,355 inhabitants. Notably, the predominant age group falls within the 60-69 bracket, shaping the community’s dynamics. The housing landscape predominantly comprises childless couples, often managing mortgage repayments ranging from $1800 to $2399 per month. Blairgowrie has maintained its appeal to professionals, evident in the prevalent occupation demographics. Homeownership, a hallmark of the area, saw a slight increase from 77.3% in 2011 to 78.9% in 2016.
Baby Boomer’s Delight
Blairgowrie marks the point along the Mornington Peninsula at which the foreshore caravan and camping grounds become markedly fewer and smaller, leaving the bulk of the foreshore and bay beach easily accessible in its natural state, officially making it a much more sought-after and peaceful area for retirees to enjoy. With the increase in baby boomers retiring and selling their long-acquired Melbourne homes at a high price point, they now seek luxury lifestyle homes close to the beach. This surge in demand has heightened premium property prices in the past 12 months, spurred by the growing popularity of the area and the significant number of retirees exiting Melbourne. While there has been a -2.86% drop in the median sale price in the past year to $1.7M, some examples of wonderfully crafted architect-designed homes with sea views or easy beach access have witnessed substantial price increases.
3 Blairgowrie Avenue, Blairgowrie, Vic 3942
24 Beach Avenue, Blairgowrie, Victoria
Why We Love It
Blairgowrie weaves a tapestry of scenic wonders and an enviable lifestyle for residents and visitors alike. The Mornington Peninsula National Park acts as a natural haven, offering awe-inspiring walks and breathtaking views along the rugged Bass Strait coastline. However, while Blairgowrie enhances its allure, neighbouring Sorrento has experienced a surge in tourism due to the redevelopments of its two major hotels, elevating the choices in upmarket accommodations and drawing in visitors seeking gourmet food and luxury stays. Additionally, the Point Nepean Heritage Motor Show, held annually in November, injects a vibrant community feel, attracting motor enthusiasts from all over Melbourne, further enhancing the region’s appeal.
Blairgowrie’s evolution as a retiree haven and its proximity to the developing attractions of Sorrento have contributed to the region’s appeal. Its harmonious blend of nature’s bounty, residential allure, and developmental strides underscores its status as one of Victoria’s most sought-after locations for those seeking a balanced, picturesque sea change lifestyle.
Suburb Insights for Houses in the Last 12 Months
Blairgowrie’s real estate landscape over the past year showcases distinctive trends, delineating the suburb’s housing dynamics:
$1.7M Median Sale Price (National Average $485k): Blairgowrie’s median sale price of $1.7 million significantly surpasses the national average of $485,000, depicting a higher valuation indicative of the area’s affluent property market.
-2.86% Median Sale Price Change (1yr) (National Average 4.30%): Contrary to the national average increase of 4.30%, Blairgowrie saw a slight decline of -2.86% in its median sale prices. This deviation suggests a localised adjustment in a broad range of properties that may be considered less than absolute premium.
$620pw Median Rent (National Average $395): Blairgowrie boasts a robust median rental rate of $620 per week, markedly exceeding the national average of $395. This higher rental figure underscores the strong demand for rental properties within the area. (Not including holiday lets which can be at times in excess of $10,000 a week).
1.9% Median Gross Yield (National Average 4.24%): Blairgowrie’s median gross yield of 1.9% indicates a slightly lower return compared to the national average of 4.24%. Despite this variance, the suburb presents a balanced investment prospect for property owners.
These statistics provide a comprehensive insight into Blairgowrie’s housing market trends, illustrating a nuanced picture of a high median sale price, moderate price adjustments, and a thriving rental sector. The suburb’s dynamics reveal an ongoing demand for rental properties despite the minor decline in median sale prices, indicating resilience and sustained interest within the local real estate landscape.
Data within this article has been sourced from Core Logic. Published 8 Jan, 2024
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