Melbourne is notorious for its continued property growth. We have lived through times when house prices were doubling as quickly as every 7-10 years. If you were one of the ones who were savvy enough to invest in property in the 80’s or 90’s, chances are you’ve seen a great return on your investment. If not, you like most everyday Aussies who didn’t cash in on the property boom may be deciding whether now is the time to invest and if so, where?
The Mornington Peninsula combines greenery and rolling hills with picturesque cliff tops and beaches, making it perfect for both country and sea lovers. The area has a lot to offer in the way of art, culture and cuisine but still provides the necessities of living such as schools, transport and shopping centres. Melbournians have really caught on to all the Mornington Peninsula has to offer and we are now at the stage where demand is high, and supply is low.
This trend continues to push house prices up, not just in Mornington itself but also in suburbs such as Frankston, Frankston South, Mount Martha and Mount Eliza. The best predictor of future property trends are past trends which means home owners in the region are scarcely selling up.
This does not necessarily mean it is a bad time to buy and many people fall into the trap of believing this. In actual fact, buyers should seize their opportunities to buy when they can by being assertive and offering high. Buying something older that needs a little work could score you a bargain as the land is where the value really sits.
If you’re thinking of buying, selling or leasing your property in the Mornington Peninsula, seek advice from the experts at Twin Waters Estate Agents for sales, appraisals and property management services. We really know the Mornington market.