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Mornington Peninsula appears to be the new wave of the moment in the property market of Victoria. Although rising home prices are nothing new with locations close to waterways, Mornington Peninsula appears to be a latecomer in the list of suburbs attracting investors. Despite the negative impact of the Covid pandemic on the general property market of Australia, this coastal suburb shows no sign of slowing down anytime soon 

Judging by trends of a few years ago, there were signs that the market was growing, but in the post-pandemic period, the brakes have come off as the median prices of homes in the area have continued to soar. 

Of all the suburbs in Victoria, Mornington Peninsula is among the top ten best performing suburbs for investments. The median prices of homes also appear to have risen by 30% more than last year’s price. Some of the best locations to buy a home currently are areas close to Portsea or Sorrento. Then, there are emerging spots like Mcrae, Dromana, Rosebuds, and Blairgowrie.

Last year, property conveyancers were helping buyers and sellers close sales on homes with an average price of $316,437. Fast forward to 2022, and the median home price is $1,037,500. This means that investors enjoyed massive capital gains of close to 300%. Unfortunately, properties closer to the beachfront may cost even more.

The rental market is not doing badly either, as average weekly rents have risen as well over the $600 mark. So if you are only looking for real estate investment opportunities for properties you plan to put up for rent, Mornington Peninsula is a perfect location for you.

The population may have stagnated got a while, but it is rapidly growing, thereby creating more opportunities for renters in the area. Besides the nice scenery, the presence of many recreational facilities and great cafes are also some of the factors attracting investors to the area.

• More than 70% of homes in Mornington Pennisula are owner-occupied
• The average one-bedroom apartment costs $960,000

Buying a home right now in Mornington Pennisula is a big deal as sellers are selling off their properties for profit and moving to neighborhoods much closer to water and buyers buying homes they like in the area. Although it appears to be a buyer’s market, one thing buyers and sellers all have in common is that most of them use conveyancing services.

A property conveyance involves the transfer of ownership from one party to another within the confines of a real estate transaction. Property conveyancing may not be compulsory by law, but buyers and sellers use the service offered by expert conveyancers because it protects their interests and investments.

Conveyancers can help you prepare important documents such as the contract of sale for a property and any other document of importance. He can also ensure that your contractual obligations are met while ensuring that your documentation and entries are accurate and in order.

Inspection and document evaluation are also some checks they can perform on your behalf to ensure that you are not overpaying for a property. Suffice the say that property conveyancers handle the legal aspects of a property sale and protect your interests.

If you want to sell or buy a property in Mornington Pennisula, reach out to the best conveyancers in the area like LEAD Conveyancing to guide you through all the stages of negotiations and the acquisition process.

Mornington Peninsula is a suburb in the Southeastern part of Melbourne, Victoria. Lying just south of Melbourne’s city centre, it has a landmass of 724 km. The suburb is also densely populated, with more than 165,000 residents as of the last census.  Based on current migration trends, the area will likely have many more residents than the official figures from the last census.

Also called The Mornington Peninsula Shire, it is a relatively young area, having only been commissioned on December 15, 1994, after the State government joined Hastings, Mornington, and Flinders to form a single Shire.

Mornington Peninsula has witnessed a steady influx of permanent residents over the last few years, with massive infrastructure recorded in the area. As a result, the local government authority was also the 34th government in Australia to declare a climate emergency in 2019.

Suburbs close to Mornington Peninsula include

• Frankston
• Port Phillip
• Casey
• Bass Strait
• Western Port

Mornington Peninsula may be an emerging urban area, but it remains a popular area for recreationists. The lovely scenery and beaches around the area are a huge draw for many, as well as the cafes and shipping centers springing up everywhere. If you visit the area, you will surely have a wonderful time as there are so many side attractions to keep you occupied during your stay. Here are some lovely spots worth visiting in Mornington Peninsula.

Sorrento

Ask anyone who has visited the area to list their best spots, and they will most likely place Sorrento at the top of their list. Sorrento is regarded as Australia’s fashion capital and is one of the first areas where European settlers set up a permanent abode. The area is a beautiful mixture of 28th-century architecture and modern infrastructure. There are high-end cafes, fashion stores, and restaurants in the area. You can also connect Port Philip from here.

Pennisula National Park

If you want to experience the wilderness of Mornington, this is the best place to visit. The location is a natural paradise filled with expansive beaches, hiking trails, and nature walks. The Green Bush part of the park will also bring you closer to wildlife like wallabies, kangaroos, and indigenous parrot species.

The Hot Springs

If you are weary and just looking for a location where you can unburden yourself in a warm, natural sauna, head over to the Pennisula hot springs located in the heart of a dense forest. There are private and public spots in the area where you can relax while enjoying amazing views all around.

Other local attractions/things to do include

• Beach Walks
• Point Nepean National Park
• Horseback riding at the Beach