Domain data shows that the Surf Coast local government area (LGA) has a $1.45m median house price. Million dollar prices were once the exclusive domain of blue-chip inner-Melbourne suburbs.

Low numbers of houses for sale and a desire for people to make tree and sea changes have driven regional house prices higher over the past two years.

Domain chief of research and economics Dr Nicola Powell said suburbs that offered a great lifestyle and an opportunity to travel to the office or work from home were still highly desirable.

‘You’ve got two LGA’s above the $1m mark and it’s just such a milestone.’ Powell said. ‘It really throws a spotlight on regional Victoria and in particular lifestyle locations where buyers can get a greater parcel of land and a bigger house than you would for the same price in Melbourne.’

By contrast, Melbourne’s median house price is $1,074.369.

See you on the coast!

James Worssam   |   0418 585 815 james@greatoceanroadrealestate.com.au