Located along Victoria’s stunning Bellarine Peninsula, Ocean Grove offers a unique blend of coastal charm, lifestyle opportunities, and a property market that caters to various buyer segments — from first-time purchasers to high-end investors. If you’ve been tracking property prices for sale in Ocean Grove or considering taking a leap into this dynamic market, it’s evident that the town offers both affordability and premium luxury, making it a prime option in 2024.
With more families, retirees, and professionals drawn to coastal living, the Ocean Grove property market is experiencing significant interest. So, let’s take a closer dive into the range of property prices and market trends, while analyzing how Ocean Grove balances affordability with premium coastal living.
Understanding the Property Market in Ocean Grove in 2024
As of 2024, property prices for sale in Ocean Grove range widely, reflecting the diversity of the housing stock, which spans from smaller homes fit for first-time homebuyers to luxurious beachfront properties. The town has retained its charm over the years while developing modern amenities to cater to growing demand.
Whether you’re looking to purchase a cozy family home, a spacious coastal retreat, or an investment property, Ocean Grove offers a unique mix that caters to all segments.
Affordable Property Options in Ocean Grove
For many buyers, the affordability of Ocean Grove remains one of the key factors drawing them to the town. While some areas across the Bellarine Peninsula have moved into premium price territory, Ocean Grove still offers plenty of value.
Median House and Unit Prices in 2024
In 2024, the median house price in Ocean Grove stands at approximately $1.11 million (source: REA Group, 2024), with three-bedroom homes being particularly popular among young families and investors alike. However, smaller properties, such as units and townhouses, present a more affordable entry into the market:
| Property Type | Median Price (2024) |
|---|---|
| House | AUD $1.11 million |
| Unit | AUD $750,000 |
Note: Prices can vary depending on proximity to the coast, local amenities, and home features.
While houses in Ocean Grove generally trend on the higher side due to growing demand and prime location close to the beach, units provide excellent value for buyers on a more modest budget. This makes it an attractive option for first-home buyers or those downsizing without sacrificing the coastal benefit.
Suburbs Offering Affordable Homes
Though much of Ocean Grove is considered a premium coastal town, there are specific pockets that are relatively more affordable. Some areas that offer more value while still boasting proximity to the coast include:
- Collendina: Located south of the town centre, Collendina offers homes that, on average, trend a bit lower in price compared to properties closer to the town’s main beach.
- Ocean Grove Estate: With multiple new land estates popping up, these are marketed towards first-time buyers with house-and-land packages, offering affordability without compromising too much on quality.
“Ocean Grove, especially in areas like Collendina, remains a haven for those after affordable coastal living. The amenity-rich suburb ensures you won’t miss out on the coastal lifestyle, even on a more constrained budget.” — Ethan Caldwell
Premium Coastal Living in Ocean Grove
On the other side of the spectrum, Ocean Grove is no stranger to premium real estate. Thanks to its outstanding beaches, green spaces, and laid-back yet sophisticated lifestyle, many buyers with deeper pockets are eager to own a slice of paradise.
Prestigious Properties and Beachfront Homes
For premium buyers, property prices are influenced by proximity to the water, architectural style, land size, and bespoke features. Homes that offer panoramic views of the coast are particularly coveted, pushing price points into the multi-million-dollar range.
For example:
- Luxury beachfront homes: Direct beachfront properties can fetch anywhere between AUD $2.5 million to $5 million or more. These homes frequently boast contemporary designs, expansive terraces, and private access to the beach.
- Larger Lots with Ocean Views: Slightly further from the shoreline but still offering stunning ocean views, homes atop the hills of Ocean Grove can still demand above $2 million, depending on the size of the property and additional features like pools or luxury finishes.
It’s important to note that in Ocean Grove, premium buyers are not just paying for property — they are investing in the lifestyle that comes with it. Access to award-winning beaches, boutique shopping, and excellent schools makes this locale particularly attractive to affluent families.
| Property Type | Price Range (2024) |
|---|---|
| Beachfront Homes | AUD $2.5 – $5 million+ |
| Ocean View Properties | AUD $2 – $3 million |
“Ocean Grove’s high-end homes are highly sought after, offering some of the best ocean views and luxurious living along the Bellarine Peninsula. For affluent buyers, these homes are the perfect combination of coastal landscape and modern design.” — Ethan Caldwell
Key Amenities and Lifestyle Offerings in Ocean Grove
Another critical factor driving property demand in Ocean Grove is its unrivalled lifestyle offerings. This family-friendly and increasingly popular coastal town has plenty to offer its residents, which greatly influences property values.
Natural Attractions and Outdoor Recreation
When considering practical amenities and lifestyle factors, it’s easy to see the attraction of Ocean Grove. The town is surrounded by natural beauty, anchored by its pristine beaches and easy access to other coastal towns along the Bellarine Peninsula.
Key attractions include:
- Ocean Grove Beach: Known for its family-friendly and stunning surf conditions, the beach is a hub for both locals and holiday-makers alike.
- Barwon River: Ideal for those looking for a change of scenery from the beach, the river offers ample activities such as fishing and kayaking.
Schools and Infrastructure
In addition to its natural beauty, Ocean Grove boasts modern facilities including excellent schools, childcare centres, and medical facilities. The Ocean Grove Primary School and Bellarine Secondary College are top choices for families, while the town itself has well-maintained infrastructure with plenty of public parks and sporting clubs for an active lifestyle.
For those commuting into Geelong or Melbourne, Ocean Grove offers excellent road access, with Geelong being a mere 25-minute drive and Melbourne reachable in 1.5 hours by car.
Why Ocean Grove Appeals to Investors
Given the trajectory of property prices in Ocean Grove, it’s no surprise that savvy investors continue to eye this coastal hotspot. With strong historical growth rates and a robust demand from holidaymakers and permanent residents alike, it’s a market with ongoing growth potential.
Capital Growth Potential
Ocean Grove has experienced steady capital growth over the last few years, seeing an annual growth rate of approximately 6.1% as of late 2023 (source: Domain). This trend is expected to continue into 2024, further establishing Ocean Grove as a solid investment location.
- High Rental Demand: With its proximity to both Melbourne and Geelong, Ocean Grove is popular among renters seeking coastal living without straying too far from business hubs. Holiday rentals also perform well during the peak summer season, ensuring year-round rental yields for investors.
Final Thoughts: Ocean Grove — A Balanced Market for All Buyers
From affordable homes on the outskirts to luxurious beachfront estates, Ocean Grove has something for everyone. The blending of affordability for first-time buyers and premium solutions for those seeking luxury coastal residences creates a versatile and dynamic market in 2024.
Whether you’re looking for a serene retreat or a high-growth investment, Ocean Grove should be on your radar.
Are you ready to explore Ocean Grove’s exciting market? Whether you’re hunting for a family home or considering a premium beachfront investment, Ocean Grove offers the perfect balance of lifestyle, affordability, and luxury coastal living. What are you waiting for?
