Somers (postcode 3927) is a small locality in Victoria within the Mornington Peninsula local government area. It is home to about 1,857 residents, with an older-leaning population and a median age of 53. Households earn a median income of $99K per year, with an average household size of 2.4 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, technicians & trades. Employment in the area leans toward healthcare and education. The top ancestries reported are English, Australian, Irish.
Median house prices in Somers stand at $1.3 million, having fallen sharply by 17.4% over the last twelve months. The median weekly rent is $391 (Census 2021). This gives a gross rental yield of approximately 1.6%. The median monthly mortgage repayment is $2,167.
Somers is served by 2 schools, including 2 primary. The average ICSEA score is 1045, which is around the national average of 1,000. Public transport access includes 23 bus stops. The crime rate in the Mornington Peninsula LGA is moderate at 7,089 incidents per 100,000 population.
From an investment perspective, Gross rental yield sits at around 1.6% (low yield). Property prices are above the state median ($1.3M/$875K), placing it in the premium segment. The price-to-income ratio of 12.9x is considered stretched. House prices have moved -17.4% 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.