I recently downloaded the Top 50 Cheapest Suburbs Report from Real Estate Investar dot com dot au. Scanning down the list of suburbs, I came across Rosebud in Victoria. I used to live in Victoria and from my memory Rosebud is on Port Phillip Bay and should therefore be in the more expensive category.
The demographics vary a large amount from one end of the Peninusla to the other.
As a generalisation, you start with Portsea as arguably the most expensive spot, and then it is sort of an "overflow" from there coming back towards Melb.
Next expensive for those who can't afford Portsea is Sorrento, then Blairgowrie, then into Rye for those who can't afford Blairgowrie etc.
St.Andrews is quite expensive though for what the amenities are - which is on the Ocean Beach side and near Rye, more or less.
Tootgarook comes next - which is a sleeper - not much in amenities and a bit ugly by comparison (beaches are pretty good though), and relatively cheap - cheaper than Rye, but reasonably close to Rosebud for the amenities it provides.
Then comes Rosebud.
The demographic of Rosebud is lower-income, working class and Pensioners, mostly. High welfare rate, high crime rate, but good amenities and little pockets of very nice here and there.
It is the cheapest of them all down here, with the largest population (other than probably Mornington).
Then next in line, and for some reason McCrae is expensive. Yes; good views from up on the hill, but not much in the way of amenities.
I suspect it's one of those sorts of places where a handful of wealthy people move in (probably to be far enough away from the Rosbudians, but close enough to be near the shopping
) and then all his mates and colleagues move there just because; and voila! a suburb that has nothing going for it but loads of rich folk living there.
Sorta like Mt.Martha in that respect...
The standard of houses in McCrae is generally better though...no "car wreck front yards" to be seen in McCrae.
Intrigued, I carried out a search for properties in Rosebud on realestate.com.au and, indeed, there was property listed for under $100k. Never mind that it was just a beach box with enough room for storing your surfboard ( vertically)
I wonder what the capital growth on those boxes is....
Bathing boxes down our way have gone up from approx $60k or so when we first moved down here in 2000, to between $150k and $200k these days. That's in Dromana. Mt.Martha is different again, to Portsea where it'd be rare to find anything under $200k I suspect.
