Bayside insights from Red Report
Our expert agents in bayside have shared their top three trends and predictions for their local market in 2017.
Top three trends
- St Kilda rules the roost
House prices have risen steeply in St Kilda, thanks to the suburb’s proximity to the city, lifestyle and range of accommodation options.
- Influx of Sydney-siders
With the cost of living rising in Sydney, people are relocating to Bayside Melbourne as it offers a similar beachside lifestyle at a lower cost.
- Apartments in high demand
Demand for larger apartments and townhouses has increased as buyers are pushed out of the detached-dwelling market.
The apartment market in Bayside, from St Kilda right down to Sandringham and Chelsea has grown tremendously, and it will strengthen this year. This can be put down to first home buyers seeking out apartments, second home buyers looking at larger apartments instead of houses, and downsizers wishing to stay in their local area. Investors with apartments in Bayside can be rest assured that capital appreciation will be strong this year. Those looking to sell their apartment’s should capitalise on this growing trend and consider listing over the next twelve months.