VIC Bellarine Peninsula the new Mornington Peninsula?

Hi all, long time lurker, etc…

As a brief introduction of myself, I’ve long had an interest in my local real estate market (Gippsland area, particularly Latrobe Valley) own our PPOR essentially outright, and currently have one investment property locally. In the previous few years I’ve done a couple of semi major reno/flips that have allowed the pay down of our OO debt, and now keen to “make hay while the sun shines”, so to speak, with the new-found freedom of not having any non-investment debt to service (the investment also covers all outgoings).

So, we had some conversations with an investment advisory type company whose preferred option was a new build on the Bellarine Peninsula, and whilst I understand the tax benefits of higher depreciation, positive cashflow etc, they struggled to address some of the concerns I put to them, i.e. primarily what evidence/history/data/rationale do they have to support claims of strong capital growth they’re stating for this option when these Greenfield new estate houses often see subdued growth in early years.

The one thing that really got my attention though was when he compared the Bellarine Peninsula to Mornington Peninsula, and predicted a similar boom in coming years to that seen on the Mornington Peninsula over the past 10+ years. He cited liveability, proximity to beaches and the water, and commutable distance to Melbourne CBD (particularly with fast train works in the future).

What are people thoughts on that comparison, and the Bellarine in particular? Perhaps, sensing my caution and knowing I’m on the eastern side of Melbourne and familiar with M.P. he thought this would give me a reference point for growth possibilities. But again, what basis for this statement, or the possibility of this playing out… I’m not so sure!

FWIW, there are some alarm bells ringing and we’re leaning towards other options, but the comparison to “the other” Peninsula of 15 years ago definitely got my attention!

 

The BP areas have been growing like crazy too. People discovered the other side of the bay is exxy, let's go this side of the bay. Ocean Grove, Barwon Heads and Torquay have always been up there, it's just that the other areas experienced the ripple and it's all up in val.

 

Barwon is very unique, as long as its very close to water. Tightly held and not cheap

Mornington peninsular has been going nuts

my pick here is Blairgowrie.

I am not a local, am sure many here know more than me, just what I see and like. The stats are showing strong market

BB and change of work environment will see these markets continue to rise

 

The Bellerine Peninsula is becoming a PITA for traffic !
Fine if you are a retiree.
The Drysdale bypass barely makes up for the reduced speed limits on the Bellerine rd, Queenscliff rd has been a nightmare since the speed limit dropped (10yrs ago) to 80, and Leopold expansion doesn't help.
Both will go the way of the Torquay rd, developers/council squeezing in as many blocks as possible instead of freeways with interchanges (think Qld/Gold Coast with "planned development") speed limits will continue to be lowered and travel time's increase.
The Geelong ring road extension to Moolap will only extend the bottleneck (houses built out toward lake Connewarre now means no bypass, unless they "link" across to the Bellerine rd and back to Queenscliff rd........).
Or they could build the bridge over from Point Henry as proposed some 50+ years ago (prob won't happen while big ships still access Geelong Port).
People don't seem to like Lara, but it is on the right side of town (easy commute to Melb or the surf coast).
*Edit, yes @MTR it would seem that foresight and true planning went out the door 20 years ago in favour of increased development/rates !
I have been driving from Syd-Geelong for theast 12 years, the Melb ring road has had roadworks the entire time, "oh 2 lanes isn't enough, lets add a 3rd", then a forth and 5th, then an interchange and........... (I blame incompetent state gov for not overruling local council for the better good ;-( ).

 

Off topic a tad, but....
Melb traffic is a nightmare, I just got back, I am moving to Melb early next year.... its going to take some getting used to

 

My prospective is purely of one for holiday home as opposed to permanently living there. When looking at holiday home didn't consider BP at all as

1. MP is where the Eastern private school holiday house action is, you can see this over the school holidays and this kind of builds on itself as develops a rep (I think Sorrento has the highest proportion of Teslas of any post code in Victoria)
2. BP is only 20km or 20 minutes longer drive than MP generally but when you have a holiday home that 40 minutes saved is well worth it
3. Also with the time savings it helps for people visiting that only do day trips to visit and MP definitely more doable if you live in the Eastern suburbs
4. Hot springs and choices of gold courses in MP (thats what I hear but I don't play so will let others comment)
5. MP front beach is really good for Kids and back beach good for the adults (BP could be the same?)
6. I know it sounds kind of weird but some people living in the East wouldn't consider driving to the West

 

Bellarine is beautiful and looks like it is going to go the MP way, with some of the best wineries plus having some of the best surf beaches so close..good schools and not too far from Melbourne especially with the fast trains coming soon...not to forget the Games that are coming up in 2026...the spirit of tasmania calling geelong its home...harvey norman and various other big stores setting shop.....looks like a lot is going for it...please ignore if i have stated anything wrong...this is mostly based on what i have been reading......and seems like everything is going that way.....

 

Curious, why the move to melbourne? You are perth based?

 

the traffic and bad weather is appealing

On a serious note…my daughters now both in Melb.

 

Hey are there any developments in infrastructure happening in the bellarine peninsula around clifton springs and drysdale? Why is it that these areas are still affordable in terms of pricing when the other areas are going to the 800's and 900's? Any thoughts? Good or bad? Or any prospects?