A Victorian beachside town could be the “next Byron Bay”.

Phillip Island’s Cape Woolamai has been named Victoria’s answer to the popular NSW celebrity haunt.

Ray White chief economist Nerida Conisbee says Cape Woolamai has performed similarly to Byron Bay on several metrics.

“I had a look at towns around Australia that have been achieving similar metrics to Byron Bay – so price growth, rental growth, towns that aren’t in commuting distance to a capital city,” she told Ross and Russel.

“It was Cape Woolamai that ticked all those metrics.

“It’s by the beach, it’s got some pretty cool cafes and the like and also some pretty great surfing.”

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