Eleven kilometers on the south-east direction off Melbourne’s central business district, you can find the picture-worthy scenery of the affluent Brighton suburbs. Mostly well-known for the 82 colorful beach boxes along the Dendy Street beach, Brighton is home to Melbourne’s wealthiest citizens, and the area is characterized by its grand mansions, along with the development of large residential land blocks. Entertainment areas and pop-up shops keep some of the locals busy here, while some opt to experience the waters or bike along the paths in the beautiful coastline. This is the place to be, and if you crave the luxurious lifestyle in beachside living then choosing a Brighton real estate is the best move for you.
Brighton Real Estate: By the Numbers
A real estate property in Brighton has a median price of $2,345,000, and in here a spacious 4-bedroom property can cost just a little over $3,000,000. Compared to previous data spanning five years and over 200 sales in the last 12 months, Brighton has increased 31.9% in terms of median house price, equating to a 5.7% increase in its annual growth rate.
Meanwhile, Brighton’s rental yield has increased by 2.2%, based on over 200 sales and 379 property rentals. Although averaging only 666 visits property compared to Victoria real estate’s average of 1014, the market still considers the property demand in Brighton relatively high, due to the surge of movers. These are composed mostly of elderly singles wanting to settle down solo, and young families wanting to make full use of the city’s glamour and amenities. All the while, the place is also home to older families keen on putting down roots in the luxurious community.
(Data from Realestate.com.au)
Why Choose Brighton
Buying a house in Brighton is buying into its lifestyle and community. The state’s wealthiest reside here, and celebrities are also considered a mainstay. That alone shows the identity of the suburb, where the beach provides your daily dose of natural beauty and its entertainment area catering to every local’s needs.
There are numerous fancy restaurants, elegant boutiques, and various pop-up shops alongside the area’s top-notch educational institutions like the St. Leonard College and the Star of the Sea College. While serviced by various railways, Brighton also has several bus services. Bike tracks and walk paths are also mainly used in this suburb. Although a fairly exclusive neighborhood, it is home to many immigrants and movers from all over the world, 2.8% of the total population being from China.
Its atmosphere might be upbeat and buzzing, but it really is one of the most exclusive suburbs in the state. The local community is quite loyal, as numerous families have already established themselves here, banking on the great quality of the local amenities and facilities. Singles, couples, and families alike flock the area to bask on its relaxed yet elegant ambience.
Edwardian and Victorian houses and mansions characterize the area’s landscape, along with modernist mansions, town houses, and high-end apartments. The private schools, the sporting clubs, the lovely malls and the beautiful beach make for Brighton’s prestige. It’s the luxurious living and classy vibe that entices investors and buyers from all over the world to the welcoming arms of Brighton real estate.
Other Popular Suburbs in Victoria
Other Regions in Australia
Other locations in Australia are equally as desirable as Victoria. Choose a region below to find out the best locations in the area. If you need information on the real estate buying process for foreigners in Australia, check our Foreign Investor's Guide.
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