Surprise Locations Where More Homeowners Are Selling in Victoria

The Victorian property market is shifting, with unexpected locations seeing a surge in homeowners selling up. While traditional hotspots like Melbourne’s inner suburbs always see steady transactions, regional towns and suburban areas are now experiencing an unexpected increase in listings. But what’s driving this trend? Let’s dive into some of these surprise locations and explore what’s happening in the market.

1. Bright – A Tourist Hotspot with High Listings

Bright, known for its stunning alpine scenery and tourism appeal, has seen a surprising rise in home listings. Despite being a popular getaway destination, the town has over 100 properties for sale, which is a significant jump.

Why are homeowners selling?

Higher interest rates have impacted mortgage affordability.

Recent state government land tax changes have made holding onto investment properties more expensive.

Some owners, who moved to regional areas during COVID, are now returning to the city for work and lifestyle reasons.

Interestingly, while homes are flooding the market, rental properties remain scarce, with only a handful available, making it an unusual supply-and-demand scenario.

2. Frankston – A Competitive Market Shift

Once seen as an affordable coastal suburb, Frankston has witnessed a strong uptick in sales activity. The market is now more competitive, with properties receiving multiple offers and auction bids.

What’s happening in Frankston?

Investor activity is rising, as rental yields remain strong.

First-home buyers are competing with investors for properties.

Some long-term owners are cashing out due to rising council rates and maintenance costs.

A recent auction at 18 Helvetia Court saw fierce bidding from both investors and owner-occupiers, proving that demand remains strong despite more homes hitting the market.

3. Ballarat – Homeowners Making a Move

Ballarat has been a popular destination for city dwellers moving regional, but now, more homeowners are listing their properties.

Key reasons for the increase in sales:

Many COVID-era buyers who moved to Ballarat for affordability are now relocating back to Melbourne for work.

Rising costs of living and mortgage repayments are pushing some owners to downsize.

Investors who bought during the boom are now selling for capital gains.

However, despite the increased listings, demand is still solid, and properties in well-connected areas of Ballarat continue to attract strong buyer interest.

4. Mornington Peninsula – Sea Change Reversal

The Mornington Peninsula was one of the biggest winners during the pandemic, as buyers rushed to secure coastal lifestyle properties. Now, however, more homeowners in the area are selling up.

Why?

Many who made the sea change during lockdowns now find the daily commute to Melbourne too difficult.

Short-term rental restrictions and increased property taxes are leading some investors to sell.

The premium market has cooled, meaning sellers want to cash in before prices dip further.

While homes in Sorrento, Rye, and Mount Martha are still in demand, more properties on the market mean buyers have more negotiating power.

5. Bendigo – Investors Cashing Out

Bendigo has long been a regional investment hotspot, but the recent spike in listings suggests that some investors are now exiting the market.

Possible reasons for the trend:

Land tax increases have made holding investment properties less attractive.

Some investors are shifting their focus to commercial properties or other markets.

Owner-occupiers looking to upgrade within Bendigo are taking advantage of the increased options.

Despite this, Bendigo remains a strong regional performer, and first-home buyers are stepping in to take advantage of the higher stock levels.

Final Thoughts: What Does This Mean for Buyers & Sellers?

With more properties hitting the market in unexpected Victorian locations, buyers now have more choice and negotiating power. However, sellers in these areas can still achieve strong prices by:

✔️ Pricing competitively based on current market conditions.

✔️ Highlighting lifestyle benefits to attract the right buyers.

✔️ Working with experienced agents who understand local trends.

If you're thinking of buying or selling in Victoria, now is the time to assess your options and stay ahead of market shifts. Want expert advice? Let’s chat today!