All About Hastings, Mornington Peninsula, VIC, 3915

Hastings, located on the Mornington Peninsula in Victoria, offers a unique blend of coastal and rural living that appeals to a diverse group of homebuyers. The housing market in Hastings has seen significant interest over recent years, primarily driven by its comparatively affordable real estate options alongside the natural beauty and amenities of the Mornington Peninsula. The area provides a variety of housing types, including modest family homes, modern townhouses, and increasingly popular renovations, which cater to both first-time buyers and those looking to downsize or invest. The proximity to Melbourne, about an hour’s drive, makes it a convenient location for commuters looking to escape the urban hustle. As a result, the market has demonstrated resilience, with steady demand fueled by both local purchasers and those moving from metropolitan areas seeking a more relaxed lifestyle.

Living in Hastings offers residents the charm of a smaller town with the convenience of necessary amenities and recreational activities. The town centers around its lively shopping precincts, local cafes, and community events that foster a close-knit atmosphere. The coastal environment encourages a laid-back lifestyle with abundant opportunities for fishing, boating, and enjoying the nearby Mornington Peninsula National Park. Additionally, Hastings is well-served with educational facilities, healthcare, and robust transportation links, including the Western Port Highway and train services connecting to Melbourne. The area's natural surroundings, including parks and beaches, provide a picturesque backdrop for outdoor enthusiasts, making it an attractive place for families, retirees, and individuals seeking a tranquil yet fulfilling community life.

Hastings Real Estate Market Outlook

Thinking about buying in Hastings? Now could not be a better time, with 7120 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $816,000 with prices in this suburb ranging from $39,000 to $46,655,000. Hastings 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 Hastings 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 Hastings provides good demand. The lower than average housing turnover of these people also means fewer regular listings leading to periodic large price increases. High density population in Hastings requires consistent turnover in housing ensuring constant demand. Housing styles may be a mix of low, medium, and high density, providing choice for well-financed buyers and value growth over time. Lower than average industry presence in Hastings we believe will be less of a negative impact than it has in the past. Post-COVID and the growth in working from home has lessened the demand for local employment options. This may make Hastings a better buying opportunity than it may have been in the past.

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General Points of Interest

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