Buyers seeking beach houses are getting creative after being priced out of holiday hot spots like the Mornington and Bellarine peninsulas.
McEwing & Partners director Quentin McEwing said there was growing interest for beach boxes on the Mornington Peninsula because houses had become too expensive.
“In areas like Mt Eliza and Mornington, you can expect to pay about $2 million for a beach house,” Mr McEwing said.
“Rye, Rosebud and McCrae have holiday houses that are still good value, around $800,000.”
A bathing box on Mills Beach in Mornington had attracted attention from families who saw it as the perfect way to day trip to the region, he said.
The waterfront weatherboard is expected to sell for about $200,000.
Fletchers Queenscliff agent Charles Caldwell said there was huge demand for holiday houses on the Bellarine Peninsula, where $700,000 was the entry point for a stand-alone house.
A new house for sale at 20 Beachwood Drive in Point Lonsdale with a $700,000-$770,000 price guide had been popular, he added.
“We have had a lot of interest from Melbourne investors looking to use it as a holiday home along with using it as a rental,” Mr Caldwell said.
“There also has been interest from downsizers within our Bellarine market.”
Full Circle Property Advocates director Rob German said buyers should consider waiting until winter to buy near the beach.
“People will pay a premium if they purchase at the height of summer, because there are more people looking so there’s more competition,” Mr German said.
“But it is important to be looking at this time of the year, to get a good understanding of what an area offers, how much traffic there is and whether the beaches get too busy to enjoy.”
Beach houses within two houses drive of Melbourne were often more expensive, while deals would often be found further afield, he added.