Suburb Profile Report for Mornington VIC (3931)

Mornington House: Median price $775,000, Annual capital growth 7.02%, Number of sales 399, Weekly median advertised rent $490

Mornington Unit: Median price $615,000, Annual capital growth 6.71%, Number of sales 101, Weekly median advertised rent $420

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

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

  • House Report
  • Unit Report

Mornington, 3931 ranked 369th in VIC when comparing growth in median property values or capital gain over the last 12 months. Mornington is one of 2099 in our list for VIC

Over the longer term, Mornington has seen property prices show investors a 27.78% return over the last 3 years. This is worse than over the last 12 months

Vendor discounting in Mornington is giving property investors an average Vendor Discount of around -6.57%. This puts suburb at number 129th in VIC when ranking the most discounted suburbs.

The VIC suburb of Mornington, 3931 is in the Mornington Peninsula (S) local government area.

Investment property in Mornington has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 7.76%

A 45.35% growth in median value for property investors in Mornington,3931 puts this suburb at number 57th in terms of best performing suburbs in VIC

Property buyers and investors in Mornington 3931 should be seeing an average reduction in asking price of around -5.89% . This means that Mornington is holding prices well when compared to other suburbs in VIC.

Using the current median advertised rental of $400 and the average annual increase in value of a median property of 6.77%, investors should hope to achieve an overall return of 3.33%

Metrics i HOUSE UNIT
$775,000 $615,000
-4.32% -2.38%
-2.88% 3.97%
7.02% 6.71%
$490 $420
399 101
3.29% 3.55%
56.22152 72.66279

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

DSR Score for property investment : Good (H), Good (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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