Link­ing beach to city

Herald Sun - Property - - SUBURB PROFILE -

PENIN­SULA Link is driv­ing more buy­ers to dis­cover Morn­ing­ton’s prop­erty mar­ket.

Since the free­way opened more than two years ago, more per­ma­nent res­i­dents are buy­ing homes in Morn­ing­ton, Mt Martha and sur­round­ing sub­urbs from Oliv­ers Hill to McCrae.

Morn­ing­ton agent Ni­cholas Lynch said Penin­sula Link had brought the mar­ket closer to the city.

“Head­ing out of Morn­ing­ton, the first set of traf­fic lights is at Mel­bourne Air­port,” he said.

Mr Lynch said more buy­ers were happy to com­mute into the city for work, while tech­nol­ogy and work­place flex­i­bil­ity meant more were work­ing from home sev­eral days a week.

Matthew Mitchell, a di­rec­tor at Chisholm & Ga­mon, Mt Martha, said most buy­ers were com­ing from the bay­side ar­eas of Mel­bourne.

“There’s a mix­ture of hol­i­day home buy­ers and per­ma­nent res­i­dents com­ing down,” he said.

“It’s def­i­nitely the lifestyle, the beaches. When peo­ple come on hol­i­days, they are find­ing it a more ap­peal­ing prospect.

“You can be selling a town­house in El­wood, for ar­gu­ment’s sake, for $1.5 mil­lion and buy some­thing here on 1300sq m with a pool for the same sort of money.”

Mr Mitchell said shop­ping, recre­ation and top schools, in­clud­ing The Penin­sula School and Bal­combe Gram­mar, were at­trac­tive to young fam­i­lies.

Hol­i­day home buy­ers re­mained a strong sec­tor of the mar­ket, with bay and surf beaches nearby. The top of the penin­sula was be­com­ing a more at­trac­tive prospect for hol­i­day home buy­ers who were still able to ac­cess top-class bay and surf beaches, Mr Lynch said.

“That’s al­ways been the way but a lot of peo­ple are choos­ing us in­stead of fur­ther down the penin­sula be­cause it’s just eas­ier to pop back to work while you’re hav­ing a hol­i­day, as against hav­ing to go another hour down to the bot­tle­neck at Port­sea.

“We’ve def­i­nitely sold to a few celebrity buy­ers, big topend sales where they nor­mally would have cho­sen the Port­sea, Sor­rento mar­ket.”

The buyer dy­namic had im­pacted Morn­ing­ton’s Main St shop­ping precinct, which Mr Lynch said was now pop­u­lated with top-end cafes, restau­rants and bou­tiques more rem­i­nis­cent of Toorak Rd.

But the sub­urbs re­tained that coun­try charm that buy­ers were crav­ing, Mr Mitchell said.

“It’s good coun­try liv­ing, you could say,” he said.

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