M A R K E T U PDATE R E P O RT
Mornington Peninsula
As winter’s icy chill swept across the State, the top end of Melbourne’s real estate market remained comfortably warm, with quality properties continuing to achieve solid prices.
Specialising in prestige property, sales results from Marshall White’s seven company-owned offices located in Stonnington, Boroondara, Port Phillip, Balwyn, Bayside, Mornington Peninsula and Manningham continued to buck the current overall downward market trend. Our market is led very strongly by buyers with a desire to pin down a family home for a generation, in a locale where lifestyle is paramount. With less volume
As we anticipated, after having experienced many
anticipated in the market over the next three to six
changes of Government over the years, the lead-up
months, we are expecting the upward pressure
and outcome of May’s Federal election did little to
on prices to be maintained.
dampen buyer sentiment, nor did the aggressive but predicted Reserve Bank interest rate rises. While some
Our final quarter auction data show there is still a great
vendors adopted a ‘wait and see’ approach, others
deal of activity and continuing demand for quality family
took advantage of the lower competition levels, with
or executive lifestyle properties. We achieved some
encouraging results.
record-breaking sales, and many properties were sold prior to auction.
As usual, during the recent school holidays, the property market experienced its annual mid-year hiatus, however,
If you are considering selling now, or in the future,
we are expecting both buyers and sellers to return with
or require professional real estate advice, please feel
new and reinvigorated interest, as traditionally, the winter
free to contact us directly. From all of us at Marshall
break is often when homeowners make big property
White, we hope you and your loved ones are
decisions, knowing that spring is just around the corner.
keeping safe and healthy. M A R K E T U P DAT E R E P O R T
From your Local Area Specialists L AST QUARTER IN RE VIEW
The Mornington Peninsula premium property market has remained strong, with some outstanding sales achieved as featured in the following pages. There remains intense demand for premium properties that are beautifully renovated in blue chip locations. Family homes on good-sized blocks, close to shops, schools, transport, and parks will always attract buyers who a seeking a long-term investment.
We have seen some outstanding results for vendors who decided to proceed with their sales during the winter months when volume was frustratingly low, benefiting from a stark lack of competition. With an anticipated increase in properties coming on the market in spring, we are expecting house prices to stabilise, creating a more balanced market.
From the team at Marshall White Mornington Peninsula
Preparing Your Home for Sale Preparing your home for sale can be daunting, but small improvements, particularly to the exterior can make a huge difference. If the property looks uncared for, this instantly alerts buyers that there will be a lot of work required and may reduce the price they are prepared to pay. Marshall White sales agents can appraise your property and advise what basic repairs and maintenance could be done to take your home to the upper end of the estimated market price bracket. They can even organise professional contractors to assist.
Tips to Maximise Street Appeal 1. Ensure your front fence and entry gate is in good condition and that the front lawn or garden is well maintained. 2. Consider potted plants or flowers to add colour and style to the entry 3. Use a high-pressure cleaner to spruce up the front pathway, driveway, and brick/concrete exteriors. 4. Make sure gutters are clean and in good repair.
Luxe Entertainer 1 1 A B AT H S T R E E T , M O R N I N G T O N 4
2
2
Exemplifying Mornington’s enviable coastal lifestyle, with the sands of Mills Beach mere steps away, this luxuriously appointed 4-bedroom contemporary residence - built around a sun-drenched pool and spa deck sold at Auction for an outstanding $2,590,000.
Property Market Snapshot - Mornington Peninsula 1 JAN UARY - 30 J U N E 2022
Average Sale Price All Agencies*
Average Sale Price Marshall White*
Mornington Peninsula
Mornington Peninsula
$2,262,924
$26,000,000
Average Days on Market
Number of Sales Above Reserve
Total Number of Sales All Agencies*
Mornington Peninsula
Mornington Peninsula
Mornington Peninsula
$2,104,550
43
59%
Highest Sale Price Marshall White
Mornington Peninsula
737
*All sales above $1.5m M A R K E T U P DAT E R E P O R T