Suburb Profile Report for Mornington TAS (7018)

Mornington House: Median price $311,000, Annual capital growth 3.25%, Number of sales 55, Weekly median advertised rent $358

Mornington Unit: Median price $316,250, Annual capital growth N/A, Number of sales 12, Weekly median advertised rent N/A

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Expert Report

Over the last year, property investments in Mornington, 7018 have given investors a capital gain of 8.17%. This compares averagely with the 7.14% for TAS as a whole.

While Mornington,7018 ranked number 52th in TAS for increase in median house value (annualised) increase, it is ranked 53th over the last 5 years.

Mornington, 7018 is offering TAS ‘s 129th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 30% of discounts offered by this TAS.

Property investors should expect to get $357.5 weekly from the median priced house in this suburb.

YIP MAG Information supplied by:

YIP MAG
May 2016

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Just 7km from Hobart but set in a landscape of mountains and rivers, Mornington is growing in popularity as buyers realise the value they can get for their money.Full summary

Just 7km from Hobart but set in a landscape of mountains and rivers, Mornington is growing in popularity as buyers realise the value they can get for their money.

With a low house median of $283,000, Mornington is an affordable suburb that returns an excellent yield of 5.8% – virtually the same rate of return as neighbouring suburbs Bellerive and Howrah, which have median house values in the mid-$400,000s and $368,000 respectively.

This is likely to see house-hunters searching out cheaper dwellings and rents in nearby suburbs, and Mornington  ts the bill for both historic capital growth and yield.

A vacancy rate of 1.15% lands Mornington in  fth place in Tasmania for lowest vacancy rates.

The suburb appeals to families, and three-bedroom houses are in highest demand.

Newer homes on eastern streets are at the higher end of the median, while high-set houses have mountain views.

Close
Metrics i HOUSE UNIT
$311,000 $316,250
3.32% N/A
8.17% N/A
3.25% N/A
$358 N/A
55 12
5.98% N/A
25.26 N/A

Source: CoreLogic

DSR Score for property investment : Very good (U), Excellent (H)
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Demographics
Total population 2185
Median household income ($/weekly) 948
Median age of persons 35
Median housing loan repayment ($/monthly) 1413
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 238 10.9
    25-34 years 367 16.8
    35-44 years 269 12.3
    45-54 years 248 11.4
    55-64 years 266 12.2
    Others 797 36.5
    Age Group
    Census Count Percent(%)
    Not Married 756 48.4
    Registered Married 561 35.9
    Defacto Relationship 246 15.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 1901 92.7
    Papua New Guinea 20 1.0
    South Africa 12 0.6
    United Kingdom 60 2.9
    Other 31 1.5
    Others 27 1.3
    Country of Birth
    Census Count Percent(%)
    Buddhism 8 0.4
    Christianity 1319 68.5
    Hinduism 3 0.2
    Islam 4 0.2
    No Religion 589 30.6
    Others 3 0.2
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 115 14.5
    $600-$799 94 11.8
    $800-$999 86 10.8
    $1,000-$1,249 97 12.2
    $1,500-$1,999 97 12.2
    Others 305 38.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 665 39.1
    Employed, worked full-time 596 35.1
    Employed, worked part-time 304 17.9
    Unemployed, looking for work 75 4.4
    Employed, away from work 60 3.5
    Person Characteristics
  • Census Count Percent(%)
    Professionals 120 12.5
    Technicians & trades workers 184 19.1
    Community & personal service workers 126 13.1
    Clerical & administrative workers 142 14.8
    Labourers 125 13.0
    Others 264 27.5
    Occupation
    Census Count Percent(%)
    Pre-school 18 4.5
    Infants/Primary 171 42.5
    Secondary 97 24.1
    Technical or Further Educational Institution 57 14.2
    University or other Tertiary Institutions 42 10.4
    Others 17 4.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1793 90.8
    Flat, unit or apartment 159 8.1
    Semi-detached, row or terrace house, townhouse 23 1.2
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 354 42.1
    Rented 260 31.0
    Fully owned 223 26.5
    Other tenure type 3 0.4
    Tenure Type
Census 2011, ABS
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Recent sales & rentals