Virginia & Daniel's Granny flat exceeded my expectations. I stayed for 10 nights over the Australia Day week & wanted for nothing while I was there.
The flat was extremely clean & tidy , had a new fridge & microwave , a very comfortable bed , a small TV which suited the space & table/desk with chairs to either work or eat at. The bathroom was small-ish but had everything you'd need (clean towels , hair dryer , soap , power point etc).
Daniel & Virginia were very friendly & were eager to help if needed. Their kids were also very friendly & polite - charming young chaps for the brief time I met them. Even the pooch was welcoming.
Port Fairy itself is a very beautiful place with miles of beaches , rivers , a beautiful island , surfing , fishing , boating - it has everything you would want to do on water. The town has plenty of restaurants , cafes , pubs , pie shops etc .
The residence is a very short walking distance to the town & about a 15 minute walk to the beach (or a 5 minute drive).

In my opinion , I doubt you could find better value for money either on AirB&B or the motel sites.