Beach Boxes: Humble Sheds, Soaring Prices in Melbourne
Beach boxes, humble coastal sheds in Melbourne, have been making headlines with their soaring prices. Despite lacking basic comforts, these iconic structures can command prices higher than average suburban houses. The most expensive, found in Portsea, sold for a record AU$1.2 million last year.
The allure of beach boxes lies in their scarcity and history. Originating in the 1860s, they were built to preserve modesty during the Victorian era. Today, they are coveted for their prime beachfront locations. Prices and rules vary by location. While some allow renting or commercial use, others strictly prohibit overnight camping.
John Rundell, a long-time owner, bought his beach box for AU$12,000 in 1992. Despite annual fees and insurance, he doesn't view it as an investment. Instead, it's a cherished spot for family gatherings and storing beach gear. The most expensive beach box outside Portsea sold at Mount Martha for AU$1 million in April 2022, setting a new record.
Beach boxes, with their lack of comforts and strict rules, remain a hot commodity. Their values double every seven to ten years, making them a solid financial investment. Yet, for many owners like John Rundell, the true value lies in the memories and beachside lifestyle they provide.
