Mortlake has had a quite poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -1.82% to date .
The five-year average increase in median property values for Mortlake,3272 has given property investors a potential capital gain of 4.85% across each of those five years.
LACK OF BUYER INTEREST may well be the reason that Mortlake is offering property investors an average of -6.34. This rate of discount on properties puts Suburb at number 46th in terms of most discounted suburbs in VIC
Residents and property investors in Mortlake have been waiting around 98.6897 days to sell a property.
Situated 191.42km from the CBD, Mortlake is one of Moyne (S) localities in the postcode 3272.
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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.