Suburb Profile Report for Mornington VIC (3931)

Mornington House: Median price $743,700, Annual capital growth 6.59%, Number of sales 377, Weekly median advertised rent $500

Mornington Unit: Median price $636,000, Annual capital growth 7.31%, Number of sales 111, Weekly median advertised rent $430

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

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • House Report
  • Unit Report

With a capital gain of -8.75% for the last 12 months, Mornington, 3931 has performed for property investments than its average annual 6.59% property growth over the last 5 years.

Taking the average capital gain, or increase in median house value, Mornington,3931 has racked up an average of -8.75% over the period. This ranks it number 1613th in the whole country for real estate investors looking at median house price increases.

Our latest figures would indicate that property sellers in Mornington are currently offering property investors an average price cut of -9.27% below the asking price at the moment.

Mornington is 322th on a list of best yielding suburbs for rents in VIC with a 3.50% return

VIC has seen average median house prices change by 0.68% which means that Mornington, 3931 has done well for property investors by showing a capital gain of 0.95% over the last year

The five-year average increase in median property values for Mornington,3931 has given property investors a potential capital gain of 35.32% across each of those five years.

Vendor discounting in Mornington is giving property investors an average Vendor Discount of around -9.33%. This puts suburb at number 14th in VIC when ranking the most discounted suburbs.

With the median price for a house in Mornington being $636000 and the advertised rent reaching $430 the gross rental yield for property investors calculates out to be 3.52%

Metrics i HOUSE UNIT
$743,700 $636,000
0.50% 0.32%
-8.75% 0.95%
6.59% 7.31%
$500 $430
377 111
3.50% 3.52%
76.1524822695036 90.4588235294118

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (H), Above average (U)
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Demographics
Total population 22421
Median household income ($/weekly) 1025
Median age of persons 43
Median housing loan repayment ($/monthly) 1738
Average household size 2.3
  • Census Count Percent(%)
    5-14 years 2647 11.8
    35-44 years 3222 14.4
    45-54 years 2769 12.3
    55-64 years 2899 12.9
    65-74 years 2559 11.4
    Others 8326 37.1
    Age Group
    Census Count Percent(%)
    Registered Married 8157 49.5
    Not Married 6810 41.3
    Defacto Relationship 1524 9.2
    Social Marital Status
  • Census Count Percent(%)
    Australia 16296 76.9
    Italy 157 0.7
    Papua New Guinea 393 1.9
    United Kingdom 2720 12.8
    Other 406 1.9
    Others 1227 5.8
    Country of Birth
    Census Count Percent(%)
    Buddhism 177 0.9
    Christianity 13789 68.5
    Islam 44 0.2
    Other Religious Groups 86 0.4
    No Religion 5991 29.7
    Others 51 0.3
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 1003 12.4
    $600-$799 934 11.5
    $800-$999 819 10.1
    $1,000-$1,249 743 9.2
    $1,500-$1,999 989 12.2
    Others 3613 44.6
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 7026 40.5
    Employed, worked full-time 5856 33.7
    Employed, worked part-time 3374 19.4
    Employed, away from work 601 3.5
    Unemployed, looking for work 512 2.9
    Person Characteristics
  • Census Count Percent(%)
    Managers 1202 12.2
    Professionals 1943 19.8
    Technicians & trades workers 1730 17.6
    Community & personal service workers 1057 10.8
    Clerical & administrative workers 1362 13.9
    Others 2531 25.8
    Occupation
    Census Count Percent(%)
    Pre-school 431 9.6
    Infants/Primary 1731 38.7
    Secondary 1233 27.6
    Technical or Further Educational Institution 420 9.4
    University or other Tertiary Institutions 480 10.7
    Others 174 3.9
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 16545 80.0
    Semi-detached, row or terrace house, townhouse 2773 13.4
    Flat, unit or apartment 1192 5.8
    Caravan, cabin, houseboat 157 0.8
    House or flat attached to a shop, office 14 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 3255 37.4
    Being purchased 3153 36.2
    Rented 2238 25.7
    Other tenure type 58 0.7
    Tenure Type
Census 2011, ABS
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