Sorrento is a smaller suburb in Victoria within the Mornington Peninsula local government area (postcode 3943). With a population of 2,013, the suburb has an older demographic with a median age of 64. Households earn a median income of $86K per year, with an average household size of 2 people. The most common occupations are managers, professionals, technicians & trades. The top ancestries reported are English, Australian, Irish.
The median house price in Sorrento is $1.9 million, having dropped significantly 15.3% over the past year. The median weekly rent is $462 (Census 2021). This gives a gross rental yield of approximately 1.3%. The median monthly mortgage repayment is $2,167.
Sorrento is served by 2 schools, including 2 primary. The average ICSEA score is 1056, which is above the national average of 1,000. Public transport access includes 1 ferry wharf, 42 bus stops. The crime rate in the Mornington Peninsula LGA is moderate at 7,089 incidents per 100,000 population.
From an investment perspective, Sorrento offers a gross rental yield of 1.3%, rated as low yield. Property prices are above the state median ($1.9M/$875K), placing it in the premium segment. The price-to-income ratio of 21.6x is considered stretched. House prices have moved -15.3% year-on-year.
Sorrento is a smaller suburb in Victoria within the Mornington Peninsula local government area (postcode 3943). With a population of 2,013, the suburb has an older demographic with a median age of 64. Households earn a median income of $86K per year, with an average household size of 2 people. The most common occupations are managers, professionals, technicians & trades. The top ancestries reported are English, Australian, Irish.
The median house price in Sorrento is $1.9 million, having dropped significantly 15.3% over the past year. The median weekly rent is $462 (Census 2021). This gives a gross rental yield of approximately 1.3%. The median monthly mortgage repayment is $2,167.
Sorrento is served by 2 schools, including 2 primary. The average ICSEA score is 1056, which is above the national average of 1,000. Public transport access includes 1 ferry wharf, 42 bus stops. The crime rate in the Mornington Peninsula LGA is moderate at 7,089 incidents per 100,000 population.
From an investment perspective, Sorrento offers a gross rental yield of 1.3%, rated as low yield. Property prices are above the state median ($1.9M/$875K), placing it in the premium segment. The price-to-income ratio of 21.6x is considered stretched. House prices have moved -15.3% year-on-year.