Mornington Peninsula insights from Red Report
Our expert agents on the Mornington Peninsula have shared their top three trends and predictions for their local market in 2017.
Top three trends
- Owner-occupiers increase
Traditionally an area full of holiday rentals, the Peninsula is transforming to be predominantly owner occupied.
- Baby Boomer demand
Downsizers are seeking out coastal homes to retire to, or use as a weekend getaway.
- Rental properties in high demand
With the sales market going strong, the number of investment properties available has decreased, causing rental returns to increase.
Due to the strong sales market, more rental properties are being sold, forcing existing tenants to look for new rental accommodations - driving demand and weekly rents. Many vendors are taking advantage of the strong sales market and selling their home. Capel Sound (previously known as Rosebud West), has seen immense change, welcoming young families to the area because it offers affordable housing options.