Why wait? Two paths to downsizing in Hampton

Bayside remains one of Melbourne’s most resilient residential markets, with its middle-ring suburbs, stretching from Brighton through to Beaumaris, continuing to see strong demand from long-time locals who do not want to leave the region.

While larger homes have long defined the streetscapes, the past few years have brought a clear shift towards smaller-scale, design-led developments tailored to the needs of the Bayside local. According to the latest ABS Census data, nearly 40 per cent of Bayside’s 110,000 residents are over 50. While there is no strictly defined age at which people downsize, 50 is often a point where those who had children in their 30s begin to see them leave the family home.

Noorden Real Estate director David Lamond says downsizers make up the majority of his enquiries, with buyers prioritising local amenity and low maintenance over sheer size.

“Those approaching 60 who have been in the property market for two to three decades do not need to wait any longer to downsize,” Lamond says. “They have been through several market cycles, and their homes have multiplied in value four or five times over that period. Good-quality new homes are coming to Bayside, allowing long-time locals to stay in the area while moving into something more manageable and at a small percentage? of the price of their now oversized and under-used family home.”

All buyers at Marlu Hampton, a boutique development of just seven luxury townhomes by Thomas Constructions and designed by David Dubois, are local downsizers. The substantial homes, offering more than 260 square metres of internal space and a lift servicing all three levels, are attracting multi-generational families as well as households with older children preparing to leave home.

The project’s success is also closely tied to its walkable setting. From Service Street, it is an eight-minute stroll to Hampton’s dog-friendly beach, passing cafés such as Merry Men and Brown Cow, with the Sandringham Yacht Club just beyond. The area is also well served by parks, public and private schools, and the retail amenity of Hampton Street.

Four of the seven townhomes are already spoken for, ahead of their early 2027 completion.

Elsewhere in Bayside, David Lamond is also seeing a different type of downsizer emerge. While many want something only slightly smaller than the family home, others are looking to significantly reduce their footprint.

“There is a cohort of downsizers who truly want to downsize,” David Lamond says. “They are seeking a lock-and-leave apartment where two or three bedrooms, space for entertaining, and a balcony are more than enough. They are redirecting the proceeds from their family home into superannuation, retirement planning or travel, rather than another large home.”

This trend is evident nearby at Luminè on Crisp Street, a development of just 15 two and three-bedroom apartments. Located within walking distance of Hampton Beach and the everyday amenity of Hampton Street, it reflects the same underlying demand driving Marlu: highly liveable homes in familiar territory. Completion at Luminè is scheduled for early 2027, with prices starting from $1,175,000.