All About Allestree, Glenelg, VIC, 3305

Allestree, a quaint locality near Glenelg in Victoria, offers an appealing mix of rural charm and coastal beauty, making it an attractive destination for potential homeowners. The housing market in Allestree is characterized by its affordability relative to larger urban centers, with a variety of properties ranging from modest family homes to larger estate-style residences. The area has seen steady interest from both retirees and young families looking for a peaceful environment, coupled with the opportunity for property investment. While the market isn’t as competitive as metropolitan areas, there’s a growing awareness of the potential that Allestree holds, partly owing to its proximity to scenic coastal features along the Great Ocean Road.

Living in Allestree provides a unique lifestyle blend of serenity, community spirit, and access to natural attractions. The atmosphere is peaceful, ideal for those seeking to escape the hustle and bustle of city life. Local amenities and services may be more limited than in urban settings, fostering a close-knit, supportive community where neighbors know each other and value shared spaces. Outdoor enthusiasts will find plenty to explore, with nearby beaches offering scenic views and opportunities for fishing, boating, and walking. Overall, Allestree offers a slower pace of life, making it perfect for those who appreciate a more relaxed, nature-oriented lifestyle amidst a welcoming community.

Allestree Real Estate Market Outlook

Thinking about buying in Allestree? Now could not be a better time, with just 146 residential dwellings it's a highly sought after location. The average property price in this area is in the region of $593,000 with prices in this suburb ranging from $203,000 to $1,137,000. Allestree is located very near to the coast so expect stunning views of the ocean and access to beaches. Demand is likely to be very strong in this location which will support higher prices

Prices are above market average and increase steadily under persistent demand. A more sustainable rate of price growth is anticipated in the short to medium term. In this area of average incomes, there is a mix of housing size and quality. While this may present buying opportunities, growth may be constrained. As buyers begin to examine Allestree due to other areas being out of the price range and the trend to working from home, "gentrification" may incease price growth. A mix of professions and above average income earners in Allestree provides good demand. The lower than average housing turnover of these people also means fewer regular listings leading to periodic large price increases. Lower than average population density constrains growth in Allestree to an extent. However, where buyers are willing to compromise on housing and lifestyle choice, there are affordable options. With very low industrial sector presence in Allestree 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.

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