Lorne: The picturesque holiday town drawing in a wave of new residents
As countless road-trippers continue to wind their way along Victoria’s iconic Great Ocean Road, the idyllic seaside town of Lorne offers hopeful sea changers an enticing opportunity to embark on a more permanent journey; one that allows them to fully embrace the many benefits that come with living in this charming coastal playground.
While Lorne’s local market is and has always been, predominantly a “leisure market”, according to Ian Stewart, director of Great Ocean Road Real Estate Lorne, a shift is already in motion.
“It’s interesting to note that in Lorne, only 24 per cent of the total number of residential dwellings are permanently occupied, reinforcing the seasonal and transient nature of our market,” he says.
“However, over the past two years, we have seen an increase of people utilising their leisure properties as their permanent residence, having been advised to work from home.”
For those who are able to choose between working remotely in Melbourne or Lorne, Stewart says most have been opting for the latter, hands down.
“Not only is Lorne located just a two-hour drive back to Melbourne, but it’s also a place where the bush meets the beach, meaning it’s easy for people to find a sense of space and ease in its natural surroundings,” he says.
“And then, of course, there’s the fact that most residences in town come complete with calming ocean views.”
Unsurprisingly, these same advantageous qualities have contributed to the rise of Lorne’s median house price, which has grown 10.9 per cent year on year to $1.6 million, according to Domain figures.
“The last 24 months in our coastal markets have been times like never seen before; properties have been purchased sight unseen, with multiple buyer interest being prevalent on most listings, of properties listed close to market value,” Stewart says.
“Certainly, if it’s a lifestyle investment you are after, then there are none better than Lorne.”
While some things never change, like Lorne’s significant natural beauty, long-time local Jimmy Kambouris says the inner fabric of the town has evolved with the times.
“Lorne’s scenic sites and spectacular waterfalls will always be the drawcard, but now it also offers luxury accommodation, a vibrant shopping strip and renowned restaurants,” he says.
“In recent years, Melbourne culinary favourites like MoVida and Coda have come to call Lorne home, complimenting the already favourite Ipsos, and reinforcing the town’s status as a bona fide foodie destination.”
Kambouris is deeply rooted in the town he has always called home. His family bought the historic Grand Pacific Hotel in 1975 and operated it for 23 years, so he spent much of his childhood there during the 1970s.
“All the famous Australian bands played there; I saw Skyhooks, Australian Crawl, Men at Work, and Mental as Anything,” he recalls.
“I met musicians like Daryl Braithwaite and Shirley Strachan, who would hang out in the kitchen chatting to my mum and dad, and naturally, would always be well fed.”
Today, when Kambouris isn’t tackling the Mountain to Surf track or sipping a turmeric chai at the Lorne Larder cafe, he’s busy running Lorne Tours, offering private and bespoke itineraries exploring the Great Ocean Road, Otway Hinterland and Bellarine Peninsula.
“My favourite moments are when guests catch that first glimpse from Teddy’s Lookout, overlooking the Great Ocean Road, which always evokes a certain wow-factor,” he says.
“Lorne just has a way of instantly grabbing the heart of anyone who visits, and I simply never get tired of showing off my backyard.”
One to watch
Sprawled across four lavish levels, this architect-designed residence captures breathtaking views of the Great Ocean Road from every floor, but they are best enjoyed from the living space that opens out to an expansive deck.
Great Ocean Road Real Estate Lorne’s Ian Stewart is taking expressions of interest with a guide of $2.95 million.
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