Mornington

POSTAL CODE: VIC, 3931

HOUSE

UNIT

A steady increase in median property prices over a five-year period in the suburb translates to a -6.09% capital gain.

The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $1,080,000.

Profits due to an downward trend in home prices there averaged -2.03% per annum over a 3-year period.

Home owners selling their properties and realtors in MORNINGTON usually have to wait an average of 57.3 days days before their assets are lifted off the market.

Average weekly rents on listings have reached the $675 mark, reflecting a 3.25% increase in returns based on the current median price in MORNINGTON.

MORNINGTON, 3931 places th in Australia based on median property value growth during the quarter.

Figures from the previous quarter show that capital gains for real estate buyers in MORNINGTON are low, as opposed to average gains per annum over the past five years.

Real estate investors could earn a rental income of $595 based on current median home prices for the suburb.

Average weekly rents on listings have reached the $595 mark, reflecting a 3.99% increase in returns based on the current median price in MORNINGTON.

MORNINGTON, 3931 ranks 255th in VIC in terms of median property value increase and capital gains, based on year-to-date figures.

MORNINGTON ranks 291st on the list of best yielding suburbs for rental properties in VIC, posting a 3.99% return.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$1,080,000	$775,000
Growth Report
Median Quarterly	0%	2.11%
Median 12 month	-1.82%	-0.77%
Median 3 years	-6.09%	-0.64%
Median 5 years	22.03%	17.42%
10 years average annual	5.89%	5.41%
Weekly media advert. rent	$675	$595
Time on Market	57.3 days	75.5 days
Gross Rental Yield Percent	3.25%	3.99%

Demographics (Median Values)*

Total Population 23989

Weekly Household Income 1203

Household Size 2.30

Average Age 47

Monthly Loan Repayment 1733

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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