Commercial Development
Over the years, Hastings has developed into a bustling tourist destination on the Mornington Peninsula for seaside romantics. With a highly developed and varied sales and hospitality environment on High Street, Hastings is quickly rivaling Mornington Main Street for entertainment, beauty, recreation and shopping.
Furthermore, the increasingly varied demographic of local residents coupled with the latest population expansion and consumer demand in Hastings allows smaller businesses to thrive next to large chains and nationals. With all the big banks and seven real estate agents in the area, Kmart moved into Hastings six years before their original schedule, seeing Hastings as a budding area to capture. Not to mention, Bunnings has also had their grant approved to take residency in Hastings too.
Tourism
The Western Port area boasts picturesque tourism attractions, such as:
• Otama Maritime Museum in Crib Point
• Western Port Harbour
• Fishing at Hastings
• Caravan and holiday parks
• Nature parks
• Western Port Festival
Demographic
Hastings is home to around 7,600 residents; 5,700 of those originated from the United Kingdom.
To many, Hastings is a place to sit back, and soak up the finer years – for many more, Hastings is a great place to develop a career, go to school and raise a family amongst beautiful beaches and parklands.
Age Breakdown
• 40 - 59: 26 %
• 20 - 39: 24 %
• 5 - 19: 21 %
• 60+: 20 %
• 0 - 4: 7%
Reference: www.myboot.com.au
Occupation Breakdown
With BlueScope Steel and Esso (Exxon-Mobil) plants stationed at Hastings, and a highly diverse industrial area many of the local residents work in the manufacturing industry. Scenic and surrounded by natural beauty, it is of little surprise that many workers in a competitive and sometimes stressful occupations – construction, retail and health/social services – choose to live in this quiet seaside town.
• Manufacturing: 17 %
• Retail: 11 %
• Health / Social services: 10 %
• Construction: 10 %
• Hospitality: 6 %
• Other: 46%
(consists of retirees, unemployed, students, home-makers, pensioners etc.)
Reference: www.myboot.com.au
Housing
Once a prime area for Government housing, Hastings has since started to flourish and attract serious property developers looking for the next ‘best kept secret’ on the Mornington Peninsula. With the foreshore attracting townhouse developments, the area has been drawing serious buyers looking for quality family homes, holiday rentals and investment property.
Between 2008 and 2009:
• The median house price grew by 9%, to $280,000
• The median unit price grew by 12.1%, to $236,000
If Hastings continues to grow at this rate, analysts predict that house prices will steadily increase by 12.2% and unit prices by 15.35% long term.
Reference: www.investsmart.com.au
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