Balnarring Beach is a sparsely populated locality in Victoria within the Mornington Peninsula local government area (postcode 3926). With a population of 471, the suburb has an older demographic with a median age of 58. Households earn a median income of $85K per year, with an average household size of 2.3 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.8% year-on-year at the LGA level. VIC employment has moved +0.9% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. VIC also had 45 Commonwealth-backed major projects under construction, 17 underway, and 27 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, managers, clerical & administrative. Employment in the area leans toward construction and education. The top ancestries reported are English, Australian, Scottish.
The median house price in Balnarring Beach is $1.6 million, having declined steeply by 23.3% over the past year. The median weekly rent is $423 (Census 2021). This gives a gross rental yield of approximately 1.3%. The median monthly mortgage repayment is $1,800.
The crime rate in the Mornington Peninsula LGA is moderate at 7,089 incidents per 100,000 population.
On the investment side, The gross rental yield works out to roughly 1.3%, which reads as low yield. Property prices are above the state median ($1.6M/$875K), placing it in the premium segment. The price-to-income ratio of 19.4x is considered stretched. House prices have moved -23.3% year-on-year. Population growth of +0.8% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.