Dubbed a sea-change suburb, the postcode has attracted homebuyers with sights set on a new lifestyle in 2021.

The median house price in Chelsea jumped an astonishing 44.2 per cent from $832,000 to $1.2 million, in the first quarter of 2021. It is the second highest price growth recorded in the state, new Real Estate Institute of Victoria data shows.

The spike was attributed to its beaches, level crossing removal, great amenities, and land size factors, according to agents at Barry Plant Mordialloc.

“Chelsea is a lot more affordable for inner-city buyers chasing that bayside lifestyle,” they said.

“While Mordialloc, Parkdale and Mentone have skyrocketed in pricing, Chelsea is still quite affordable and offers great amenities within its main strip of shops right by the beach.”

Local agents believe Chelsea is still not as developed as some of its neighbouring suburbs, which are more built-up with apartment and townhouse living.

“There are still a lot of big blocks down in Chelsea and people see it as better value for money,” Barry Plant Mordialloc agents said.

“The bigger land size is definitely more appealing for people looking for more space after being cooped up in smaller apartments or townhouse living.”

Chelsea might be known for its pristine, white sandy beaches, but the suburb is also recognised for the sprawling Bicentennial Park.

The park features a playground filled with whimsical and fun elements for all ages, including two giant slides, a music hut, a shaded sandpit and a liberty swing for people with mobility difficulties.

A skate park, basketball courts, soccer pitches and football oval make up the grounds, while walking trails with links to the Long Beach Trail and Patterson River are in and around the parklands.

Station Street and Nepean Highway offer a great variety of coffee shops and restaurants including The Chelsea Grind, Two Feet First and the new kids on the block, Jack The Lad.

For some live music, Straight & Narrow are serving up Vietnamese street food on Friday nights, while the latest foodie addition, MJ’s Hideout is plating up some delicious Mexican specialties and cocktails.

Chelsea is serviced by great transport with convenient bus stops and routes to major train stations and amenities. The level-crossing works are well underway and upon a 2022 completion, there will be an underground train station, new walking tracks and ample parking space.

Chelsea Primary School and St Joseph’s Catholic Primary School are the two main primary schools within the suburb, and while there are no high schools within the postcode, Mordialloc College and Cornish College are within a 10-minute commute.

The postcode is made up mainly of established independents, elderly singles and older independents.