Suburb Profile Report for Mount Eliza VIC (3930)

Mount Eliza House: Median price $1,185,250, Annual capital growth 7.59%, Number of sales 269, Weekly median advertised rent $650

Mount Eliza Unit: Median price $575,000, Annual capital growth 6.82%, Number of sales 31, Weekly median advertised rent $385

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Over the last year, property investments in Mount Eliza, 3930 have given investors a capital gain of 10.77%. This compares favourably with the 8.91% for VIC as a whole.

A 64.62% growth in median value for property investors in Mount Eliza,3930 puts this suburb at number 241th in terms of best performing suburbs in VIC

Property buyers and investors in Mount Eliza 3930 should be seeing an average reduction in asking price of around -6.33% . This means that Mount Eliza is holding prices well when compared to other suburbs in VIC.

In the last year 269 properties changed hands in Mount Eliza, which puts it as the 60th most active market in VIC when comparing the number of sales per suburb.

Advertised rents are around the $650 mark per week – giving a return of 2.85% based on the median price in Suburb

Mount Eliza has had a pretty good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 10.58% to date .

Across a shorter period, Mount Eliza, 3930 has seen a median price increase of 8.39% over the last quarter.

Property investors looking for a bargain in Mount Eliza should be aiming for at least -6.06% off the asking price, which is the average vendor discount being achieved at the moment.

A $385 per week rent on the median house gives suburb investors a gross yield of circa 3.48%, without taking into account capital value appreciation, which has been averaging out at 6.82%.

Information supplied by:


September 2017

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Melbourne Business School is located in Mount Eliza, along with Mount Eliza Secondary College and Mount Eliza Primary School. Mount Eliza Village is the suburb’s main commercial hub, containing supermarkets, bank and specialty shops. The Mornington railway line borders Mount Eliza, and the suburb is surrounded by many beaches and water bodies, including Daveys Bay and Manyung Creek.Full summary

Low values maintain growth

Postcode: 3930

Median unit price: $480,000

Three-year growth: 8.6%

Rental yield: 3.8%

A seaside haven on the Mornington Peninsula, the suburb of Mount Eliza offers affordable apartments just about an hour’s drive from Melbourne.

The median unit value remained under $500,000 even with 9.3% growth over the past year. Vacancies are tight at just 0.75%, causing properties to sell at low discount rates. Nonetheless, the suburb’s performance slipped slightly over the June 2017 quarter when prices fell by 4%.

Melbourne Business School is located in Mount Eliza, along with Mount Eliza Secondary College and Mount Eliza Primary School. Mount Eliza Village is the suburb’s main commercial hub, containing supermarkets, bank and specialty shops. The Mornington railway line borders Mount Eliza, and the suburb is surrounded by many beaches and water bodies, including Daveys Bay and Manyung Creek.

Close
Metrics i HOUSE UNIT
$1,185,250 $575,000
2.18% 8.39%
10.77% 10.58%
7.59% 6.82%
$650 $385
269 31
2.85% 3.48%
57.45 42.82

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (U)
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Demographics
Total population 17247
Median household income ($/weekly) 1695
Median age of persons 43
Median housing loan repayment ($/monthly) 2167
Average household size 2.8
  • Census Count Percent(%)
    5-14 years 2605 15.1
    35-44 years 2393 13.9
    45-54 years 2690 15.6
    55-64 years 2407 14.0
    65-74 years 1795 10.4
    Others 5358 31.1
    Age Group
    Census Count Percent(%)
    Registered Married 7693 62.8
    Not Married 3896 31.8
    Defacto Relationship 665 5.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 12375 75.0
    Papua New Guinea 256 1.6
    South Africa 163 1.0
    United Kingdom 2182 13.2
    Other 364 2.2
    Others 1157 7.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 156 1.0
    Christianity 10369 66.2
    Hinduism 119 0.8
    Other Religious Groups 48 0.3
    No Religion 4906 31.3
    Others 68 0.4
    Religious Affiliation
  • Census Count Percent(%)
    $800-$999 454 8.9
    $1,500-$1,999 608 11.9
    $2,000-$2,499 480 9.4
    $2,500-$2,999 702 13.7
    $3,000-$3,499 456 8.9
    Others 2418 47.2
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 4814 36.5
    Employed, worked full-time 4642 35.2
    Employed, worked part-time 3016 22.9
    Employed, away from work 449 3.4
    Unemployed, looking for work 268 2.0
    Person Characteristics
  • Census Count Percent(%)
    Managers 1564 19.3
    Professionals 2222 27.4
    Technicians & trades workers 921 11.4
    Clerical & administrative workers 1167 14.4
    Sales 854 10.5
    Others 1377 17.0
    Occupation
    Census Count Percent(%)
    Pre-school 344 7.5
    Infants/Primary 1694 37.2
    Secondary 1518 33.3
    Technical or Further Educational Institution 268 5.9
    University or other Tertiary Institutions 626 13.7
    Others 109 2.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 15141 95.8
    Semi-detached, row or terrace house, townhouse 425 2.7
    Flat, unit or apartment 234 1.5
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 2611 45.8
    Being purchased 2531 44.4
    Rented 536 9.4
    Other tenure type 24 0.4
    Tenure Type
Census 2011, ABS
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