Median house prices in Corinella rose 40.4% in 2015 and thus far 12.61% in 2016 but note that it is a relatively thin market with approximately 80 properties sold over that period.
With varied housing opportunities in the town from larger homes built in the last 10 years to holiday shacks dating back to the 1960s, the data can be deceiving and needs a closer look.
At first glance it appears to be a volatile market however when you look at the trend over the last 10 years, you can see that investors, holiday home buyers and owner occupiers have enjoyed significant capital growth.
The town has experienced capital growth well above that of it’s region and the money flow appears to be coming from the over 55s however government investment in the local Bass Valley School as well as population growth in the outer SE corridor is seeing an increased trend of couples with children move into the data. The capital flows towards sea side town ships with close proximity to Melbourne is expected to continue as the baby boomers retire and look for affordable property on the coast in smaller communities. The trend in families and younger people looking for affordability and a more relaxed lifestyle is also expected to continue. This will likely see the capital growth trend in Corinella continue over the next 3, 5 and 10 year horizon.