Under the radar: A historic beach destination set to fly

This charming inner Melbourne neighborhood is steeped in history, but only recently have buyers begun to discover it.

Melbourne’s premier residential area is less than a quarter of a mile from the CBD but until recently, it was a blip on many buyers’ radars.

This is despite Williamstown’s historic landmarks, its beautiful waterfront with yachts, its sandy beach, peaceful parks and a wide selection of cafes, restaurants and old pubs.

Agent Anthony Christakakis at Jellis Craig Inner West Williamstown says the sub-peninsula, on the banks of the Yarra River, has recently sparked interest from buyers.

“More and more people are discovering Williamstown, which feels really strange considering the history associated with the suburb.”

A lifelong “Willy’s” resident, Mr Christakakis says first-time visitors are always surprised by what they find.

“They can’t believe how much is on offer, the beauty of the beach and the parks, and when you show them the Botanic Gardens and the heritage buildings, it blows people away.

“It’s one of the most beautiful cities in Melbourne – and one of the most underrated.”

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Cate Bakos, founder of real estate agency Cate Bakos Property, has named Williamstown in the realestate.com.au Hot 100, describing it as “a gem in the west” — despite its incredibly attractive prices.

“How affordable it is compared to places on the east coast is amazing. Williamstown continues to draw crowds every weekend, and for those lucky enough to call this glamorous suburb home, they will understand the magic of the 3016 zip code,” he said.

Mr Christakakis said the suburbs were also cheaper than bayside suburbs across the West Gate Bridge such as Port Melbourne and Albert Park.

Williamstown’s median house price stands at $1.56m, up 0.9% over the past 12 months, while the median unit price is $700,000, down 5.4%.

In comparison, the median house price is $2.45m near Albert Park, $1.65m in South Melbourne and St Kilda, and $3.23m in Brighton further up the harbour. Melbourne’s average residential price is $854,000, up 3.4% year-on-year, according to the PropTrack Home Price Index.

The historic suburbs are considered more affordable than the bayside suburbs across the West Gate Bridge. Photo: realestate.com.au

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Dean Stanley at Ray White Williamstown describes the $1.5m to $2m bracket as “extremely hot”, with “strong buyer action” reaching $2m to $2.5m.

“There is always a lack of stock, which makes sales go well here,” he said.

“Young families really want to take advantage of the beach, the lifesaving club and the bayside neighborhoods. A lot of people are moving around in Williamstown as well — they don’t want to leave.”

This area is known for its beautiful houses. 55 Verdon Street will go up for auction in April. Photo: realestate.com.au

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Mr Christakakis said Williamstown had many different places to offer to buyers.

“We have a lot of buyers here. You can spend $5 million on a wonderful house on 1,000sqm on the waterfront, or $1 million – and you still share the same parks, beach, culture and cafes.

“First-time and second-time buyers can easily enter the market in Williamstown and there is a huge demand for those entry-level homes, which sell very quickly.

“There’s no other suburb that has this million-dollar feel.”

89 Esplanade, Williamstown sold in August for a record $9.15m. Photo: realestate.com.au

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A sign of the suburb’s rising value was a record sale in August 2025. A five-bedroom Edwardian mansion at 89 Esplanade fetched $9.15m.

A place to live

Williamstown has two waterfront sections – The Strand on its eastern side offers views of the city’s skyline across the water, and the Esplanade looks out over the coast towards the distant reaches of Port Phillip Bay.

“It’s a beautiful place with beautiful beaches, three train stations, amazing parks, lots of places to walk, and the most beautiful houses you’ll see around Melbourne,” Ms Bakos said.

“If you’ve been lucky enough to walk into this beautiful part of Williamstown, you’ll know that housing is very tight here and not much changes. People love to live in Williamstown.”

The suburb is considered undervalued, but experts say it is close to development. Photo: realestate.com.au

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Mr Christakakis said the remote location of the site gives the community a sense of wonder.

“You can’t drive past Williamstown to go anywhere so it’s like a little beach town.”

And most of the locals won’t be leaving again, it seems.

“People have lived here for 40, 50, 60 years. You don’t move from Williamstown to a better place, you just raise the price,” he added.

“That’s why people like me have been here for over 30 years. I will never leave.”

Williamstown was one of 14 areas nominated across Melbourne in the 2026 realestate.com.au Hot 100.

Now in its fourth year, the list is compiled by a team of experts including leaders of national real estate agencies, consumer agents, researchers, investors and academics, with additional data and analysis from PropTrack.

Suburbs are designated based on the following:

• Accessibilitybe it low prices suitable for budget buyers or relative accessibility compared to nearby cities.
• Amenitywhich is a standard of living pluses, from bars and restaurants to boutiques and parks.
• Family appealsuch as type of residence, perceived safety and proximity to good schools.
• Locationincluding proximity to the CBD or major hubs, or proximity to natural resources such as beaches.
• Investment prospectsfrom the conditions of the rental market to the impending uprising.
• Gentrificationwhich is the changing face of the suburbs.
• Population growthindicating the expected increase in the local population.
• Demographic changewhich shows a shift in the current composition of the population, for example small families are replacing the elderly population of the area.
• Infrastructurelooking for major investments in projects that will benefit the suburb or surrounding areas.

Check out the 2026 realestate.com.au Hot 100 here.

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