Insights

1 Anita Street, Beaumaris

The Herald Sun yesterday published an article on the rapidly growing popularity of properties in the suburb of Beaumaris. New planning regulations designed to protect the neighbourhood’s character have fuelled an “insatiable appetite” for big blocks in the bayside suburb.

Recently introduced Neighbourhood Residential Zone limits opportunities for multi-storey unit developments for most of Bayside, with growth zones limited to near train stations and commercial centres in Brighton, Hampton and Sandringham.

The article quotes Hodges Director, Michael Cooney, who says “You think it would impact on land values, but it’s not, it’s having an inverse effect at the moment.

“Buyers are increasingly interested in large off-the-beach properties between the Concourse shopping centre and Beach Rd.”

Since September four houses have sold in Anita Street, four blocks from the beach, with the latest selling for $1.33 million.

Michael says, “A tremendous amount of people are coming from out of the area like Templestowe, Wheelers Hill and Waverley — all those type of suburbs — to Bayside. It’s phenomenal.”

Read the full article here.