Spring not only heralds winter’s end and offers a tantalising glimpse of summer but sprouts a plethora of sale boards on residential properties.
And Brighton is no different.
Ben Vieth of Marshall White real estate said they had a strong auction list already and predicted a lively home buying season.
There are no signs of the beautiful Bayside suburb waning in popularity with buyers coming from all over Melbourne and even interstate.
“People priced out of Port Melbourne, for example, look at Brighton as a great place to buy a home,” Mr Vieth said.
“For the price of a terraced property in Port Melbourne, they could buy a bigger house on a plot of land with a yard in Brighton.”
And the attractions of Brighton haven’t changed much – lots of good schools and the strong community factor, Mr Vieth said.
“The schools are some of the best in Melbourne and Brighton is very community based – it’s that Brighton bubble you hear people talking about,” he said.
Median house prices in the suburb have soared to $2.8 – $3 million, improving on average by about 10-12 per cent per year.
“But it is still an undervalued suburb compared with Toorak or Middle Park, for example,” Mr Vieth said.
“People are slowly beginning to see its value and as other suburbs become too expensive they realise what Brighton has to offer.”
Mr Vieth said there were no Brighton buyer “hot spots”, as such, with the suburb offering different appeal to different home buyers.
“For example, people moving from the Port Phillip area tend to love the north Brighton pocket on the other side of North Rd,” he said.
“Other buyers will be attracted to other areas.”
A slice of Brighton’s stunning Golden Mile may be coveted but is not so easy to come by.
“Home owners there tend to stay put so the market doesn’t move so much. People often decide to renovate rather than sell up,” he said.