Compared to the other state capitals, Melbourne is not particularly well known for its impressive waterfront locations. While picturesque beaches and harbours are a big part of other cities’ appeal, Melbourne’s reputation relies more on its lifestyle. That being said, Melbourne’s Bayside area is still held in the highest regard by both locals and regular visitors.
Sitting in Melbourne’s inner southeast, the City of Bayside stretches south along Port Phillip Bay, starting approximately 8km from the CBD. This location is a major defining feature, giving the area both its name and its relaxed, coastal feel. It also affords an easy commute into the city centre, supported by multiple train stations and several major road links.
However, it is Bayside’s many beaches that are its biggest selling point. Widely considered to be some of the best in Greater Melbourne, they are the cornerstone of the local lifestyle. The picturesque coastline also features some of the area’s biggest tourist drawcards, like Brighton’s vibrant beach boxes and Royal Yacht Club.
But while Bayside’s appeal may be broad, there is an undeniable sense of exclusivity to the region. It has long been one of Melbourne’s wealthiest areas, with a median household income comfortably exceeding the city’s average. It is also known for having a tight-knit community, largely built around its impressive sporting, entertainment, and cultural facilities.
Bayside’s prestige can also be seen in the small shopping strips located throughout the region. Here, luxury and boutique retail spaces sit alongside trendy cafes and restaurants, offering an array of cuisines and dining experiences. This is usually complemented by a well-stocked supermarket and several smaller high-end produce providers (butchers, greengrocers, bakeries, etc.).
The area is also home to several of Melbourne’s most respected schools, covering public and private, and primary and secondary. This has made Bayside particularly popular with established families, particularly those that value the prestige of their address. That said, young professionals are increasingly being drawn to the convenience of the location and comfortable lifestyle on offer.
Luke and Julian each have over 20 years of property investment experience.
Given its wealth and exclusivity, it should not surprise that City of Bayside suburbs are some of Melbourne’s most expensive. Even compared to the neighbouring areas, many of which are comparably well regarded, Bayside properties traditionally attract higher prices. While this would usually be a deterrent to investors, as any good buyers agent will tell you, Bayside is different.
This is primarily because of its enviable location, particularly its proximity to both the city and the bay. This is something that will always be in demand and that buyers and renters alike will pay a premium for. It also means the opportunity for new development is extremely limited, which further reinforces the value of existing properties.
Acknowledging this, the suburbs that sit closest to the CBD – like Brighton – generally hold the strongest appeal. Homes in this area can achieve significant capital growth and some of the highest weekly rent rates in the city. That said, as they also come with multi-million dollar price tags, returns tend to look more modest, at least comparatively.
For those focused on maximising rental yields, looking further down, or away from, the bay may be best. Suburbs like Hampton East and Highett are traditionally appreciably more affordable, but still attract significant interest from buyers and renters. Similarly, townhouses generally offer a much lower cost of entry, while still achieving a comparable rental rate to standalone homes.
While you should always do your research before buying property, it’s particularly important when investing in areas like Melbourne’s Bayside. With so much money on the line, it is critical you understand exactly what you are signing up for. This is where the support of a market expert, like a buyers advocate, can be truly invaluable.
We understand this and are committed to making the process as straightforward and pain-free as possible, wherever you are buying. This starts from our first meeting, when we will work with you to understand your lifestyle, financial situation, and motivations. We will also help you define your investment goals and develop a tailored strategy to achieve them.
From there, we manage everything for you, from setting your search criteria to identifying the most suitable investment opportunities. As part of this, our team of experienced property researchers will pull data from a range of sources. This includes details on recent market performance, key demographic trends, local development and investment plans, and upcoming infrastructure upgrades.
Based on this insight, we will develop a shortlist of the available properties that best suit your situation and goals. These will then be presented to you, along with detailed information on the investment potential and expected returns of each. If required, we can also help you whittle down this list and choose which place you want to pursue.
Once you have, and the required checks are complete, we will guide you through adding the property to your portfolio. From helping you put together your offer, to bidding on your behalf, we will provide whatever support you require. We can even advise on any upgrades or repairs required to help maximise the rental potential and returns.
At Search Party Property, we specialise in helping everyday investors secure their financial future and build serious wealth through property. For more information on our services, or the Bayside property market, contact us today.