Quarterly Property Insight - June 2024

Now Is The Time To Buy On The Mornington Peninsula!

Dear Valued Clients and Friends,

The property market nuances offer a fascinating insight into the psyche of Australian property buyers and sellers.

The opportunity to speculate an area's potential upside has always been an important part of people's decision making - along with the lifestyle choices it offers them.

We perceive significant potential on the Mornington Peninsula amidst current fluctuations and history tells us, fortune follows the brave.

The reasons people make financial decisions about their homes are wide and varied, from relocating to another suburb for lifestyle, downsizing their suburb and home to plan for debt free living, the desire to be closer to family/friends, or perhaps it's to minimise the impact of rising costs associated with owning a home or investment property, the decisions driving property transactions are diverse and impactful.

We Have Some Glaringly Obvious Dynamics Playing Out Locally

• Stock levels have increased to heights not seen generally, since January 2019, or previously January 2016.
• Buyer demand is low & has been tracking sideways for the last 12 months given State tax implications affecting investors across Victoria.
• Investors are more and more, looking outside of Victoria for their opportunities - creating another layer of property coming to the market.
• Overall sales have fallen, year on year since 2022 reflecting buyer demand is primarily being driven by home owners - not investors or speculators.
• Land listings are at all time highs - reflecting the new tax implications for holding vacant land without building & the uncertainty around the cost of building, along with the insolvencies within the building industry.​
• Rents have increased locally by approx 5% since this time last year, even with the increase in rental properties being offered.

For Every Action, There Is An Equal And Opposite Reaction

There are real opportunities for those willing to invest for the medium/long term. Value buying is now obvious. Rental returns are strong and underpin the foundations of wealth building real estate. Add in the fact that the Southern Peninsula has traditionally, 'high demand/low supply' property dynamics and the opportunities look predictable.

Retirees seeking to downsize and secure the superb Mornington Peninsula lifestyle, or young tradies looking to on-sell to young professionals looking for move-in ready homes, will find this moment particularly advantageous.

Your Trusted Real Estate Partners

To explore these market dynamics further and discuss investment opportunities tailored to your goals, contact Sam Crowder, John Wickham or Narelle Crowder for a confidential consultation.

We strongly believe, now is the time to seize the opportunity the Mornington Peninsula presents.

Make informed decisions and unlock the potential of this vibrant real estate market.

Warm Regards,

Sam, John, Narelle & Crystal