Investment property in Mortlake has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -1.67%
Taking the average capital gain, or increase in median house value, Mortlake,3272 has racked up an average of -1.67% over the period. This ranks it number 2048th in the whole country for real estate investors looking at median house price increases.
The most recent median price for Mortlake is $162250, with sellers offering an average of -11.12% off the asking price.
Residents and property investors in Mortlake have been waiting around 104.043 days to sell a property.
The VIC suburb of Mortlake, 3272 is in the Moyne (S) local government area.
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Information supplied by:
February 2019
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House market experiences gentle growth
Postcode: 3272
Median house price: $165,000
Three-year growth: 17.9%
Rental yield: 6.9%
With a rather exciting location at the foot of dormant volcano Mount Shadwell, the suburb of Mortlake is a remarkable geological site that has an abundance of the green rock peridot, also known as olivine.
Although Mount Shadwell last erupted a long time ago, Mortlake continues to capitalise on its presence by allowing visitors to fossick for olivine at the volcano’s quarry and to scavenge for “volcano bombs” – large, egg-shaped rocks ejected during eruption and containing traces of olivine. Mortlake is also known for its heritage trails, which highlight the 1850’s-era bluestone buildings in town. There are many shops and dining options as well.
Given the very low median value for houses, some may be surprised to find that Mortlake has recorded steady price increases since 2013. It is not a massive grower, but it is definitely one to look at for long-term investment.