Mortlake has had a very poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -5.07% to date .
A 3.64% growth in median value for property investors in Mortlake,3272 puts this suburb at number 403th in terms of best performing suburbs in VIC
Sellers are offering property buyers an average discount of -5.91% to buyers in Mortlake at the moment, which is less than average for the rest of VIC.
In the last year 36 properties changed hands in Mortlake, which puts it as the 469th most active market in VIC when comparing the number of sales per suburb.
Mortlake, 3272’s gross rental yield is 9.45%
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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.