Fewer properties are being listed for sale across the Bellarine Peninsula this spring, but local agents say demand remains steady for established family homes despite reduced choice.
Speaking on Bellarine Property’s podcast, managing director Levi Turner said the number of properties on the market across the peninsula in early October was almost 30 per cent below the same time last year.
The usual increase in spring listings had arrived later than expected, with limited supply helping support prices in tightly held areas such as Barwon Heads and Point Lonsdale.
Turner said sellers faced a limited pre-Christmas window, with buyer activity typically easing between mid-December and mid-January.
“I think the buyer confidence is solid enough at the moment,” Turner said.
Bellarine Property director and licensed estate agent Andrew Kibbis said buyers were continuing to attend inspections across Clifton Springs, Drysdale and St Leonards, even as some owners appeared hesitant to sell.
“We certainly haven’t seen a drop-off with numbers at open homes at all,” Kibbis said.
He said attendees included people actively seeking a home, not simply researching the market.
Fellow director and licensed estate agent Lee Martin said established homes priced between about $550,000 and $800,000 had delivered some of the northern Bellarine’s most consistent results in recent years.
“That market’s been really reliable,” Martin said.
The picture was less predictable for vacant land and acreage, with some campaigns performing well while others attracted weaker interest.
The directors described conditions as more stable than a year earlier, although results varied between property types and townships.
Across the peninsula, the directors reported more activity from owner-occupiers, particularly younger and first-home buyers, and less from investors and holiday-home purchasers.
In Ocean Grove, three and four-bedroom family homes priced up to about $1.1m to $1.2m were attracting interest. In Barwon Heads, most reported activity was below about $1.7m to $1.8m.
Turner pointed to a campaign at 4 Baytown Close, Barwon Heads, where four parties offered more than $1.6m, above the property’s advertised price range.
He said buyers were responding to well-presented properties with asking prices reflecting recent sales.
The episode also explored commercial property investment with hospitality operator Josh Friend of BPKL Group, whose venues include The Kyn, Bomboras, Pholklore, Love House and The Rove.
Friend discussed the group’s purchase of the former White House property in Barwon Heads, where another Love House restaurant is planned following the success of the Anglesea venue.
“I think Barwon Heads is probably a little bit underutilised at the moment in the food scene, with all due respect. Obviously a few places have gone and there was an opportunity there for something to come in,” Friend said.
He said choosing the right locations remained central to the group’s expansion across the Surf Coast and Bellarine.
