Sunset Strip VIC 3922: Property Market Report & Real Estate Insights

Part of Bass Coast, VIC

Sunset Strip Real Estate Market Outlook

Thinking about buying in Sunset Strip? Now could not be a better time, with just 422 residential dwellings it's a highly sought after location. The average property price in this area is in the region of $718,000 with prices in this suburb ranging from $219,000 to $1,363,000. Sunset Strip is located fairly close to the coast at just 0Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.

Living in Sunset Strip

In Sunset Strip there has been a history of lower than average prices and demand, offering opportunities for investors or first home owners, especially in the context of the growth in working from home. Low average incomes in Sunset Strip is reflected in smaller and lower quality accommodation. Over time this may change providsing long-term returns but in the short to medium term, prices are likely to be less than state averages. Low average earnings from people in Sunset Strip leads to lower quality housing which also negatively impacts the provision of facilities. As a consequence this area is often seen as less desirable, with lower quality of housing and slower price growth. Low population density implies low demand and limits housing choices and price increases. Could be a good entry point for first home buyers needing to somehow get into the market. With very low industrial sector presence in Sunset Strip the focus is on lifestyle, driving specific demand around facilities, services, and open space. Most people are employed in service sectors with a higher than average proportion being able to work from home. This may incease demand over the medium term.

Instant Property Valuation

The housing market in Sunset Strip, located in the Bass Coast region of Victoria, has shown considerable dynamism over recent years, fueled by its appeal as a serene coastal community. Nestled close to popular tourist destinations like Phillip Island, Sunset Strip offers a mix of residential properties ranging from modern townhouses to charming beachside cottages. The area's real estate is attractive to both permanent residents and investors looking for holiday homes due to its laid-back coastal lifestyle and proximity to Melbourne, approximately a two-hour drive away. Although property prices have risen in line with broader market trends, Sunset Strip still presents a more affordable option compared to some of Victoria's pricier coastal locales, making it an attractive choice for those seeking a seaside escape without breaking the bank.

Living in Sunset Strip offers a blend of tranquility and recreational activities, perfect for those who enjoy a slower pace of life with ample outdoor opportunities. Residents can delight in the proximity to iconic Phillip Island attractions such as the Penguin Parade, pristine beaches, and world-class surfing spots. Community life here is closely knit with a laid-back vibe, supported by local amenities such as cafes, restaurants, and boutique shops, which cater to both locals and visitors. The natural beauty of the area, combined with its small-town charm, fosters a lifestyle that balances relaxation with adventure, making Sunset Strip a delightful place for families, retirees, and anyone looking to unwind amidst stunning coastal landscapes.

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