15 Pax Pde, Curlewis recently sold in excess of $1 million, showing the demand in the Drysdale market.

INVESTORS and a lack of stock are driving the Drysdale real estate market.

LJ Hooker, Drysdale, agent Alastair Thomson said last year’s federal election campaign affected the amount of stock on the market and the Bellarine Peninsula was not exempt.

“There’s a lack of available stock on the market, this is seeing an increase in prices for our vendors and clients,” Mr Thomson said.

“This is a nationwide trend, it goes back to the federal election last year, which just put the brakes on the market.

“You’ll see 25-30 per cent less properties last time Bellarine not immune to that effect.”

Mr Thomson said the lack of stock was driving days on market down and said buyers had to move fast to secure a property.

“It is the full gamut of properties, from new builds in Curlewis to 40-year-old homes in Clifton Springs with views,” he said.

“We are seeing more Melbourne buyers looking to invest because they’re getting a good yield.”

The typical property investors are vying for has three bedrooms, two bathrooms and space for two cars.

“They’re snapping up properties at a rapid rate,” Mr Thomson said, noting investors from Adelaide were an emerging demographic.

He said the recent sale of 15 Pax Pde, Curlewis, a three-bedroom house on 2ha, for $1.005 million indicated what people were willing to pay for property in the hamlet.

Houses in Drysdale have seen an increase in price in the last year of 11.4 per cent up to $420,000 on 78 sales, according to CoreLogic data.

Units are not far behind, with 7.6 per cent growth up to $312,000 in the same period based on 31 sales.