BABY Boomers are taking over the property market in Aireys Inlet to set up their lifestyle plans.
These plans often include buying a holiday house with the idea to move down permanently in a few years or those already with homes in the area are looking to trade up.
Great Ocean Properties, Aireys Inlet agent Marty Maher said he was not seeing a lot of new families coming in, instead it was mainly Baby Boomers.
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“This is also probably because of the price point,” Mr Maher said.
“Aireys Inlet only has 1192 properties so it is really tightly held with low turnover, that is why prices hold up pretty well.”
He said the types of properties his buyers were after was something different to their suburban environment.
“They appreciate the undeveloped nature of Aireys, it is not a suburban setting, it still has gravel roads,” he said.
The median house price in Aireys Inlet has increased 7.4 per cent in the past year to $800,000, according to CoreLogic.
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Mr Maher said prices were slightly up last financial year but because of low turnover it did move around a bit.
CoreLogic shows there are 15 properties on the market in Aireys Inlet compared to nine at the same time last year.
This includes the three-bedroom house for sale at 4 Federal St for $3 million to $3.3 million through Colliers International, Geelong agent Andrew Lewis.
The 1002sq m site has been in the same family for more than 80 years and is in a tightly held position in the same street as the Split Point Lighthouse, well known for featuring in the TV series Round the Twist.