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%
Comparing Mortlake,3272 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Vendor discounting in Mortlake is giving property investors an average Vendor Discount of around -13.03%. This puts suburb at number 6th in VIC when ranking the most discounted suburbs.
Often selling an investment property can take time, and in Mortlake the average time real estate has been on the market is 106.882 days.
Property investors should expect to get $250 weekly from the median priced house in this suburb.
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House market experiences gentle growth
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.