Suburb Profile Report for Mornington VIC (3931)

Mornington House: Median price $717,500, Annual capital growth 7.72%, Number of sales 456, Weekly median advertised rent $450

Mornington Unit: Median price $524,750, Annual capital growth 5.88%, Number of sales 234, Weekly median advertised rent $360

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

Source: CoreLogic

  • House Report
  • Unit Report

Mornington has had a pretty good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 12.11% to date .

Over the longer term, Mornington has seen property prices show investors a 36.34% return over the last 3 years. This is worse than over the last 12 months

The most recent median price for Mornington is $717500, with sellers offering an average of -3.66% off the asking price.

On average over the past year, suburb has had 38.00 sales per month, which equates to 456 per year.

With the median price for a house in Mornington being $717500 and the advertised rent reaching $450 the gross rental yield for property investors calculates out to be 3.26%

VIC has seen average median house prices change by 2.98% which means that Mornington, 3931 has done well for property investors by showing a capital gain of 11.06% over the last year

When looking at the potential capital gains offered to property investors over the last 3 years, Mornington comes in at number 105th in VIC.

Sellers are offering property buyers an average discount of -4.57% to buyers in Mornington at the moment, which is less than average for the rest of VIC.

Often selling an investment property can take time, and in Mornington the average time real estate has been on the market is 59.15 days.

Mornington, 3931’s gross rental yield is 3.57%

Metrics i HOUSE UNIT
$717,500 $524,750
5.51% 4.95%
12.11% 11.06%
7.72% 5.88%
$450 $360
456 234
3.26% 3.57%
53.06 59.15

Source: CoreLogic

DSR Score for property investment : Good (U), Good (H)
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Demographics
Total population 22421
Median household income ($/weekly) 1025
Median age of persons 43
Median housing loan repayment ($/monthly) 1738
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 2647 11.8
    35-44 years 3222 14.4
    45-54 years 2769 12.3
    55-64 years 2899 12.9
    65-74 years 2559 11.4
    Others 8326 37.1
    Age Group
    Census Count Percent(%)
    Registered Married 8157 49.5
    Not Married 6810 41.3
    Defacto Relationship 1524 9.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 16296 76.9
    Italy 157 0.7
    Papua New Guinea 393 1.9
    United Kingdom 2720 12.8
    Other 406 1.9
    Others 1227 5.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 177 0.9
    Christianity 13789 68.5
    Islam 44 0.2
    Other Religious Groups 86 0.4
    No Religion 5991 29.7
    Others 51 0.3
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 1003 12.4
    $600-$799 934 11.5
    $800-$999 819 10.1
    $1,000-$1,249 743 9.2
    $1,500-$1,999 989 12.2
    Others 3613 44.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 7026 40.5
    Employed, worked full-time 5856 33.7
    Employed, worked part-time 3374 19.4
    Employed, away from work 601 3.5
    Unemployed, looking for work 512 2.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 1202 12.2
    Professionals 1943 19.8
    Technicians & trades workers 1730 17.6
    Community & personal service workers 1057 10.8
    Clerical & administrative workers 1362 13.9
    Others 2531 25.8
    Occupation
    Census Count Percent(%)
    Pre-school 431 9.6
    Infants/Primary 1731 38.7
    Secondary 1233 27.6
    Technical or Further Educational Institution 420 9.4
    University or other Tertiary Institutions 480 10.7
    Others 174 3.9
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 16545 80.0
    Semi-detached, row or terrace house, townhouse 2773 13.4
    Flat, unit or apartment 1192 5.8
    Caravan, cabin, houseboat 157 0.8
    House or flat attached to a shop, office 14 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 3255 37.4
    Being purchased 3153 36.2
    Rented 2238 25.7
    Other tenure type 58 0.7
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals