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Waterfront property boom: Affordable bayside suburbs on the rise

From Altona to Frankston and on to Mornington Peninsula, 11 of Melbourne’s waterfront suburbs have been tipped for a home price growth spurt and it’s the more affordable waterside suburbs likely to benefit, according to a new report produced by Hotspotting.com.au.

In the latest Price Predictor Index from Hotspotting.com.au, market commentator and analyst Terry Ryder has tipped a mix of units and houses in suburbs including Altona Meadows, Dromana, Rosebud and Somerville could be in store for a rise in property prices because the number of sales in these areas has surged in recent months. “The index really identifies the areas where because sales volumes are rising, prices will rise in the near future,” Mr Ryder said. “The Mornington Peninsula is the No. 1 emerging market in the Melbourne area,” he said. The area is benefiting from a combination of EastLink and Peninsula Link freeways, but also affordable price tags, he said. Frankston’s waterside location and road links were also likely to see it benefit.

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