Waterside Rise: Sandridge Point Emerges as Greensborough’s Coastal Investment Hotspot

Sandridge Point’s residential market has taken the lead in Greensborough’s property surge, with waterfront homes on Sandridge Esplanade and nearby Marine Parade setting record interest and outstripping much of the city’s recent price growth.

The excitement surrounding Sandridge Point matters now because investors and young families alike are searching for value and future upside beyond Greensborough’s traditional centre. As the waterfront suburb sees rising demand for both primary residences and holiday lets, long-time locals, and newer arrivals, are watching transformation unfold block by block.

On the ground, buyers’ attention is trained on properties close to the Sandridge Surf Lifesaving Club and the revamped Waterfront Promenade precinct. Local agencies, including Coastal Realty Greensborough and Hughes & Waddell, report that properties within walking distance of the renovated Pelican Pier playground and the tidal pools near Shellcove Lane attract competitive offers as soon as they list. The past month has seen activity in full display, with open homes on Pendrell Street and Nautilus Lane drawing crowds, notably higher than seasonally typical for the area according to local agents.

Prices Breaking Away

Data from the Greensborough Property Observatory shows the median house price in Sandridge Point reached $1.22 million at the end of June 2026, a jump of 12% year-on-year and the fastest annual acceleration on the city’s coastline. Street-level results tell the story: a four-bedroom on Sandridge Esplanade fetched $1.37 million in May, after a short seven-day listing, and two-bedroom apartments above the Waterfront Promenade retail zone are now averaging $758,000, a $110,000 jump since last winter. Local council sources cite completion of the beachside public boardwalk in March as a factor underpinning demand and drawing new foot traffic to the foreshore café strip.

Rental figures echo the trend, with long-term leases on north-facing apartments at the Driftwood Residences up nearly 18% from the same period last year, according to the quarterly Greensborough Lettings Report. Many agencies have now updated their rental forecasts upwards for the remainder of 2026, citing low vacancy and the suburb’s changing reputation.

Looking Ahead in Sandridge Point

For those eyeing opportunities, local advisers suggest keeping watch for upcoming developments near Sandridge Point Pier, including approvals under review for boutique apartment blocks beside Mariner’s Green. First-time buyers might find some relief with incentives from Greensborough’s "KeyStart Home Access" program, which has prioritised the coastal zone for under-market-rate lending over the next two quarters.

With construction along the foreshore now largely complete and several commercial refurbishments opening this season, many in the sector expect Sandridge Point’s momentum to continue into next year. Local agents encourage buyers and investors to move deliberately: upcoming listings close to Sandridge Point Park and the east-facing Shelley Street pocket are tipped as the next likely hotspots for price action well before spring.

This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.