Reports indicate that Bayside residents rarely sail away from the seaside suburbs. The neighbourhood has always been an exclusive pocket, with most buyers being current or former residents of the bay area. In fact, Australian census data shows that only 7,097 people in the council’s population of 104,030 moved away from the area between 2007 and 2016. With so many good public and private schools, new transport infrastructure and lifestyle attributes provided by the beach, it’s no surprise that Bayside has such a loyal residency.
Many young couples looking to break into the Bayside market move from nearby suburbs like Albert Park and Elwood. They do so when they need larger family homes. The Bayside suburbs are increasingly harder to invest in due to rising property prices. Case in point, in the past five years, Bayside prices have grown by 67.6 per cent. To read more about Bayside’s appeal, head to Realestate.com.au for the full article.