Analysis of future directions for Victorian coastal residential property - exploring the myths

This research provides an analysis of the disparate notions and ideas, to form an overview of the possible trends in residential property for the Victorian coastal areas of the Surf Coast and the Bellarine Peninsula. It examines the interaction of the consumers, space producers and infrastructure providers as they are influenced by the three key determinants of the market, the demographic factors, economic conditions and statutory factors. While examining the patterns of urban development on coastal Victoria over the next 20 years, the research also investigates the validity of myths that have emerged concerning the Sea Change experience, the investment market in coastal areas and the adequacy of the relevant infrastructure. The qualitative data used in this research comes from both primary and secondary sources. The primary qualitative and quantitative data was developed on the basis of the responses to a mail out questionnaire to residents from seven towns on the Bellarine Peninsula and the Surf Coast and from a number of interviews with local property experts from these areas. The secondary qualitative and quantitative data came from the results of various government surveys, demographers, the press and the census. The main thrust of this research is to answer the question "why people live where they do?" and specifically, why do they live in coastal Victoria? The state of the property market is a major determinant, but people choose their location for a myriad of other reasons as well. They may also consider personal economic reasons, their expectations about the future in general and the housing market in particular, climatic or geographic reasons, psychological reasons, emotional reasons, technological reasons, all or a combination of these factors. Lifestyle changes were found to be the major reason why people chose to live on the Bellarine Peninsula or the Surf Coast. The survey results also raised questions about the future of coastal Victorian residential development especially with reference to the fragile coastal environment. Myths are created over time and are fuelled by media attention and local discussion. Sometimes the evidence finds them to be true, sometimes they are disproved. The three myths introduced in this research are separately discussed with regard to residential development on the Surf Coast and the Bellarine Peninsula. There is no doubt that people will continue to move to coastal Victoria and probably in increasing numbers, but there is serious doubt that the infrastructure will be ready for them. The coastal communities and the coastal environment are at serious risk from the increased growth on both population and tourism. It is only with the support of all three tiers of government that the future requirements of coastal communities will be met. There needs to be a policy framework of sustainable growth and a funding approach to enable the local councils, not only on the Bellarine Peninsula and the Surf Coast, but on all Australian coastal areas, to embark on an extensive program to provide the necessary services and infrastructure for these changing environments