Property investors who have had real estate in Mornington, 3931 should be pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 17.19%
Over the longer term, Mornington has seen property prices show investors a 44.50% return over the last 3 years. This is worse than over the last 12 months
Sellers are offering property buyers an average discount of -3.91% to buyers in Mornington at the moment, which is less than average for the rest of VIC.
On average over the past year, suburb has had 39.17 sales per month, which equates to 470 per year.
Mornington has had a pretty good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 9.71% to date .
Mornington,3931 was ranked 651 in Australia by increase in median property value over the quarter.
Vendor discounting in Mornington is giving property investors an average Vendor Discount of around -3.12%. This puts suburb at number 252th in VIC when ranking the most discounted suburbs.
Using the current median advertised rental of $376 and the average annual increase in value of a median property of 6.24%, investors should hope to achieve an overall return of 3.46%