Mornington is a large suburb in Victoria within the Mornington Peninsula local government area (postcode 3931). With a population of 25,759, the suburb has a mature demographic with a median age of 50. Households earn a median income of $75K per year, with an average household size of 2.3 people. The most common occupations are professionals, technicians & trades, managers. The top ancestries reported are English, Australian, Irish.
The median house price in Mornington is $1.1 million, having risen modestly 1.9% over the past year. Units have a median price of $780,000 (-3.7% YoY). The median weekly rent is $400 (Census 2021). This gives a gross rental yield of approximately 1.9%. The median monthly mortgage repayment is $2,000.
Mornington is served by 7 schools, including 4 primary, 2 secondary, 1 special. The average ICSEA score is 1024, which is around the national average of 1,000. Public transport access includes 118 bus stops. Healthcare facilities include 1 public and 2 private hospitals. The crime rate in the Mornington Peninsula LGA is moderate at 7,089 incidents per 100,000 population.
From an investment perspective, Mornington offers a gross rental yield of 1.9%, rated as low yield. Property prices are near the state median ($1.1M/$875K). The price-to-income ratio of 14.6x is considered stretched. House prices have moved +1.9% year-on-year.
Mornington is a large suburb in Victoria within the Mornington Peninsula local government area (postcode 3931). With a population of 25,759, the suburb has a mature demographic with a median age of 50. Households earn a median income of $75K per year, with an average household size of 2.3 people. The most common occupations are professionals, technicians & trades, managers. The top ancestries reported are English, Australian, Irish.
The median house price in Mornington is $1.1 million, having risen modestly 1.9% over the past year. Units have a median price of $780,000 (-3.7% YoY). The median weekly rent is $400 (Census 2021). This gives a gross rental yield of approximately 1.9%. The median monthly mortgage repayment is $2,000.
Mornington is served by 7 schools, including 4 primary, 2 secondary, 1 special. The average ICSEA score is 1024, which is around the national average of 1,000. Public transport access includes 118 bus stops. Healthcare facilities include 1 public and 2 private hospitals. The crime rate in the Mornington Peninsula LGA is moderate at 7,089 incidents per 100,000 population.
From an investment perspective, Mornington offers a gross rental yield of 1.9%, rated as low yield. Property prices are near the state median ($1.1M/$875K). The price-to-income ratio of 14.6x is considered stretched. House prices have moved +1.9% year-on-year.