Birregurra a superstar

VICTORIA’S best locations for making money in the property market over the past decade have been revealed, with Birregurra clocking in at No.2.

The superstars of the property market have posted the most consistently strong rises in median dollar value — strengthening the value of owners’ most important assets well above other investments.

Marysville — the epicentre of the 2009 Black Saturday bushfires — has risen from the ashes to reach a median house price of $490,000 off the back of average 15 per cent gains each year for the past 10 years, according to new data from realestate.com.au.

Birregurra — home to esteemed restaurant Brae and with a population of about 800 — wasn’t far behind. The median house price has jumped an average of 11.7 per cent each year since 2011 to hit $697,500.

Long-term homeowners in developing outer-Melbourne suburb Clyde North have also been sitting on a goldmine, earning 11 per cent average annual gains for the decade.

That trio was followed by beachside towns, such as Aireys Inlet and St Andrews

Beach, which now hold median property prices of more than $1.2m.

AvenueFive Geelong director Sam Parsons said the price growth in Birregurra had been phenomenal.

“A lot of the places we’ve sold, (the buyers) have got some sort of connection to the area, they might have friends or family or have grown up down there,” Mr Parsons said.

“Now that people have the flexibility to live in a great little country town that has a good vibe, is close to (beachside towns like) Torquay and is at the foothills of the Otways — people are putting lifestyle first.”

He said the past year had seen a significant increase in interest in the town, with a typical block of land rising from about $220,000 at the start of 2020 to between $320,000-$345,000 at present.

Hotspotting founder Terry Ryder is predicting the Melbourne-led exodus to such areas will continue “driving up prices and sales levels” for years.

He said the idea had “gathered pace” as a result of the coronavirus lockdowns and working from home.

Hamlyn Heights, Bright and Sunshine top the most reliable areas for units, with the median price rising by as much as 8 per cent in the past decade.