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HomeReal EstateBrighton Victoria Property Market, House Prices, Suburb Profile & Investment Data

Brighton Victoria Property Market, House Prices, Suburb Profile & Investment Data

Suburb Profile

Brighton is one of Melbourne’s finest bayside suburbs. It is situated just eleven kilometers south of the city. It is situated on the sandy beach coast of Port Phillip. It is nestled between Elwood and Hampton just south of the natural reserve Elsternwick Park.     

Brighton enjoys a good infrastructure and is perfectly serviced. Public transport is abundant with trains, buses and a tram servicing the citizens and guests. The suburb has two shopping strips and a stretch of six kilometers of beaches. Brighton provides a perfect blend of natural beauty seasoned with exquisite historical Edwardian and Victorian charm. 

The grand Victorian estates contrast wonderfully with many modern mansions with pools and tennis courts and are eagerly offered (when available) by luxury real estate agencies of Brighton. The suburb has a grand selection of public and private schools, sports clubs. Brighton is bicycle and pedestrian-friendly with a grand cycling lane along the beach. 

The heart and the center of the suburb is Church street. The street and adjourning alleys are sprinkled with high-end fashionable boutiques, beauty salons, cozy coffee shops, and a multitude of panties, bakeries, and the whole palette of eateries, and a cinema in the local Dandy Plaza Shopping Center. 

Further, in the direction of the beach, around Gardenvale Station along Martin street, there is a fine selection of gourmet restaurants side by side with fast food distributors. Then, just along the coast, comes coastal thoroughfare The Esplanade. The street is lined with small hotels.

The more than 6 kilometers coastline of Brighton houses many attractions for all ages. The Esplanade starts from the Brighton Bowls Club down south. Then it winds up the coast past the picturesque Brighton Beach Gardens and their Green Point. These are exactly what their name says - green gardens beside the ocean. 

The view FROM Green Point is outstanding. Then the Esplanade reaches the famous Dendy Street Beach. This is the most notorious spot on the coast of Brighton. 

Further north the Esplanade passes close to the Brighton bathing boxes. This is a picturesque historical site and remnants of the times when beach-goers and swimmers each had their own changing booth. Today you can see these booths on postcards as one of Melbourne’s major landmarks.  

The Esplanade eventually leads to Middle Brighton Baths and a small commercial and catering area. These are historic sea baths that have been visited ever since 1881. Adjourning is the location of the Middle Brighton Pier with a huge marina facility, which facilitates boat lovers. Many areas of the Brighton beaches have established water skiing and surfing facilities and are frequently visited.

Property Market

The 2016 Australian census places the Brighton population at 23,253 with an average age of 45 years. Some 74% of the inhabitants own the houses where they live. The remaining part is on rent. Brighton may be said to be a family suburb with 53.7% of the inhabitants being either “elderly couples and families” or “established couples and families” and “older couples and families” or “maturing couples and families”.

The Australian Bureau of Statistics informs that the median weekly household income in the suburb is AUD 2,410 and the median monthly loan repayment is AUD 2,913. The median household size is 2.4 persons.   

The perfect location, great infrastructure and services, and the wonderful real estates all attract both future homeowners as well as investors. Brighton is a high-demand suburb with visits for properties on sale at 645. 

The average waiting time for house owners to sell their assets was 81.8 days during the past year and the average waiting time for unit owners to sell their assets was 83.2 days during the same period.

House Prices

House prices and rents in Brighton have been consistently rising over the past decade.

Real estate agencies in Brighton suggest that the average price of a house in Brighton currently is at AUD 3,307,500 and the average house rent sits at AUD 1100 per week. Returns from the average weekly rent, or the gross rental yield, increased by 1.73% and the average unit rent reached AUD 600 per week. 

Unit Prices

Estate agents in Brighton state that the Brighton unit property values performed better compared with other suburbs. The median home price reached AUD 1,090,500.

Returns from the average weekly rent increased by 2.86% and the average unit rent reached AUD 600 per week. 

During the current quarter, Brighton holds thirty-first place among its peers in property values.

Investment Data 

With sustainably rising prices both of houses and of units, which is stronger than peers, Brighton offers a good opportunity for investors to achieve lucrative returns on their investments. 

House Investments

The average 10 years, and also quarterly house data, the capital gains in Brighton achieved strong long-term growth. The growth over the past ten-year period is 7.22% annually. The capital gain over the past five-year period is 30.6%. 

The capital gain of home prices in Brighton is even more spectacular in the last year, when they reach a capital gain of 14.05%, being the highest annual average capital gain for the investments in the suburb. This puts Brighton on the list which investors should review.  

As the median price of houses is AUD 3,307,500 and the average house rent stands at AUD 1100, the owners of houses could in the suburb easily make some 1.73% increase of the gross rental yield.

Unit Investments

There is a sustained long-term increase in the median unit prices in Brighton. The growth of unit prices over the past ten-year period is 4.18% annually. The capital gain for investors over the past five-year period is 16.63%. 

And the capital gain for the past three years is 6.91%. The last year alone achieved a 5.36% capital gain for investors in Brighton and the current quarterly median prices are up by 9.05%. 

The average annual profits for unit investors for the last three year period was 2.3%.

All this puts Brighton on the list which investors should review. 

I am Kate Westall, a freelance writer, and a professional blogger, who enjoys enlightening others about unknown and little-known facts. I love to write on all general and professional topics like Home Improvement, Fashion, Health, Travel etc.
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