The New Sea and Tree-change: Buyers Seek Luxury and Longevity

Prestige buyers in regional markets are taking a strategic, future-focused approach to a sea or tree change.

Private acreage with amenities, estates with commercial upside, architectural houses, and properties near to water and village centres are increasingly in demand as buyers pursue a balanced way of life while still connected to Melbourne.

The pandemic prompted city homeowners to flee to greener pastures and beachside hamlets. However, today’s buyers are making the move after considering the practicalities of dividing their time between the city and the country, RT Edgar Bellarine director Felix Hakins says.

“It has shifted in the past 12 to 18 months from the post-pandemic surge, which was driven by flexible working from home, to buyers who are motivated by long-term lifestyle planning” he says.

Regional Victoria’s annual home price growth of 7.2 per cent has outpaced Melbourne, at 3.4 per cent, PropTrack’s February Home Price Index shows. A closer snapshot reveals dwelling prices in Geelong, which includes the Bellarine Peninsula, grew 5.59 per cent over the past 12 months. Melbourne’s North West, which takes in the Macedon Ranges and Mount Macedon, rose 5.53 per cent, while the Mornington Peninsula spiked 6.67 per cent.

The motivations behind that strong demand are evolving.

Remote work is dropping lower on the priority list for buyers, Hakins says. Instead, they are gravitating towards homes that support flexibility. “Hybrid working is not the dominant driver that it used to be,” he explains. “Buyers are looking for a place to unwind. They come down on weekends and spend time with their family while still maintaining ties with Melbourne. Some spend Thursday through to Monday here, so it makes the purchase viable.”

Forward thinking is shaping the types of properties buyers want. Among those are rural holdings with income potential, which suit downsizers seeking a casual interest in retirement or families who need space for horses and other hobbies. “Our acreage properties attract a lot of interest, particularly when there's scope, such as vineyards, equestrian use or boutique accommodation,” Hakins says.

Beach access is prized, as are properties with design merit. “Architectural homes are an asset which buyers are crying out for,” Hakins says.

Forward thinking is also influencing aesthetics at the high end. Classic style is key, says interior designer Tara Kennedy, lead designer at boutique studio Kennedy & Co. and founder of The Design Hub. This is embodied by the Mediterranean nuances in her Torquay House project, which she designed, and the bohemian elegance of Bells House in Jan Juc, which she styled.

“One of the biggest lifestyle shifts I’m seeing is that clients are thinking much more long-term about their homes,” Kennedy says. “Rather than following trends, they’re prioritising materials and design decisions that will still feel relevant in ten or even twenty years.”

Kennedy says clients want their regional retreat to help them slow down. “This usually translates into lighter colour palettes, natural textures, materials that reflect the surrounding landscape, and spaces that immediately signal they’re somewhere different from the pace of the city.”

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