What's Happening in Braeside, VIC…

The sale of property in Melbourne’s Bayside area has reaped home owners some great returns, according to data.

The area – which includes suburbs such as Mordiallic and Braeside, Victoria – was placed second among Melbourne’s municipalities for median gross profit, according to the recent Corelogic RP Data Pain & Gain report.

The new information listed Bayside’s median gross profit at $462,500 and stated that 94.2 per cent of those who sold in last year’s September quarter walked away with a profit.

The director of Buxton Hampton East, Adam Gillon, said the strong performance was second only to the median profit of $488,000 achieved in Boroondara.

Flyers and brochure printing have long been used to promote real estate sales throughout Australia, but Mr Gillon said the promotional material had combined with low interest rates to attract more properties onto the market.

Prices were also pushed up by a competitive marketplace, which included overseas buyers, he said.

Bayside suburbs likewise offered a great lifestyle alternative that included beachside living, public transport options, a wide selection of shops and good schools. Mr Gillon claimed the lifestyle on offer in Bayside helped to drive prices up.

The quarter surveyed saw a total of $132 million in shared profits for property owners.

The upward trend, he said, was expected to continue in 2015, with the first quarter already performing strongly and interest rates remaining at record lows.Get a Free Quote for Flyers