Somerville is a well-established suburb in Victoria within the Mornington Peninsula local government area (postcode 3912). With a population of 11,767, the suburb has an established demographic with a median age of 40. Households earn a median income of $93K per year, with an average household size of 2.6 people. The most common occupations are technicians & trades, professionals, clerical & administrative. The top ancestries reported are English, Australian, Scottish.
The median house price in Somerville is $813,000, having grown strongly 6.2% over the past year. Units have a median price of $623,000 (+6.4% YoY). The median weekly rent is $380 (Census 2021). This gives a gross rental yield of approximately 2.4%. The median monthly mortgage repayment is $1,800.
Somerville is served by 4 schools, including 3 primary, 1 secondary. The average ICSEA score is 1004, which is around the national average of 1,000. Public transport access includes 3 rail stations, 22 bus stops. The crime rate in the Mornington Peninsula LGA is moderate at 7,089 incidents per 100,000 population.
From an investment perspective, Somerville offers a gross rental yield of 2.4%, rated as low yield. Property prices are near the state median ($813K/$875K). The price-to-income ratio of 8.8x is considered moderate. House prices have moved +6.2% year-on-year.
Somerville is a well-established suburb in Victoria within the Mornington Peninsula local government area (postcode 3912). With a population of 11,767, the suburb has an established demographic with a median age of 40. Households earn a median income of $93K per year, with an average household size of 2.6 people. The most common occupations are technicians & trades, professionals, clerical & administrative. The top ancestries reported are English, Australian, Scottish.
The median house price in Somerville is $813,000, having grown strongly 6.2% over the past year. Units have a median price of $623,000 (+6.4% YoY). The median weekly rent is $380 (Census 2021). This gives a gross rental yield of approximately 2.4%. The median monthly mortgage repayment is $1,800.
Somerville is served by 4 schools, including 3 primary, 1 secondary. The average ICSEA score is 1004, which is around the national average of 1,000. Public transport access includes 3 rail stations, 22 bus stops. The crime rate in the Mornington Peninsula LGA is moderate at 7,089 incidents per 100,000 population.
From an investment perspective, Somerville offers a gross rental yield of 2.4%, rated as low yield. Property prices are near the state median ($813K/$875K). The price-to-income ratio of 8.8x is considered moderate. House prices have moved +6.2% year-on-year.