Suburb Profile Report for Mornington VIC (3931)

Mornington House: Median price $782,500, Annual capital growth 8.10%, Number of sales 467, Weekly median advertised rent $450

Mornington Unit: Median price $576,000, Annual capital growth 5.99%, Number of sales 234, Weekly median advertised rent $380

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

Source: CoreLogic

  • House Report
  • Unit Report

At number 1376th in the list of Australian suburbs ordered by increase in median house value over the last year, Mornington, 3931 is in the top 40% with a property value increase of 11.79% recorded in median house prices.

The five-year average increase in median property values for Mornington,3931 has given property investors a potential capital gain of 56.34% across each of those five years.

LACK OF BUYER INTEREST may well be the reason that Mornington is offering property investors an average of -3.33. This rate of discount on properties puts Suburb at number 59th in terms of most discounted suburbs in VIC

Residents and property investors in Mornington have been waiting around 29.92 days to sell a property.

A $450 per week rent on the median house gives suburb investors a gross yield of circa 2.99%, without taking into account capital value appreciation, which has been averaging out at 8.10%.

Mornington has had a pretty good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 12.94% to date .

Mornington,3931 has offered an average of 12.94% return per annum in house price rises to property investors over the last three years.

Mornington3931 is located in VIC which offers an average discount of -2.36% to property investors. Mornington itself is showing figures that indicate -1.30% is the average achievable by property buyers investing in the suburb.

Metrics i HOUSE UNIT
$782,500 $576,000
-2.19% 2.66%
11.79% 12.94%
8.10% 5.99%
$450 $380
467 234
2.99% 3.43%
29.92 54.93

Source: CoreLogic

DSR Score for property investment : Very good (U), Good (H)
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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
Chart Table
Recent sales & rentals