Inside the 2024 Mornington Peninsula property market

Image of water

Marshall White, with offices in Flinders, Mount Eliza, and Sorrento, has established itself as a prominent presence in the ever-evolving Mornington Peninsula property landscape.

06 July 2023

With a deep understanding of the region, our team members cater to a diverse range of clients, including long-term residents, holidaymakers, and young families, in addition to the plethora of sea changers embracing the relaxed, coastal atmosphere.

Meet the Directors

Leading the Mount Eliza office are Adrian Calcedo and Chelsey Gibson, both of whom were raised in the Peninsula and possess extensive local area knowledge. Alongside their talented and experienced team, they are committed to delivering unrivalled client service to those looking to sell, buy, or lease properties in this highly sought-after locale.

We recently had the opportunity to speak with Adrian and Chelsey to gain their valuable insights into the current state of the Mornington Peninsula property market. Here’s what they had to say:

  • Stock Levels and Market Stability: With low stock levels and a resilient market, Mornington Peninsula’s property market remains stable. The protective buffer has safeguarded sales prices, and despite a slight pullback, confidence remains high, reflecting the market’s continued activity.
  • Investor Presence and Diverse Opportunities: The market has recently witnessed an increase in investor activity, with more individuals entering the market and releasing their investment properties, influenced by fluctuations in interest rates and land taxes. The influx of investor properties has diversified the options available, presenting a wealth of opportunities for potential buyers seeking to capitalise on the market’s growth.
  • Buyer Behaviour and Evolving Demand: Buyer demand has experienced a slight decrease, leading to cautious decision-making amongst potential buyers. While inspection numbers remain consistent, many buyers are deliberating their options. Some prioritise selling their own properties first, while others consider offers subject to the sale of their existing property.
Image of water
  • Demand for Turnkey Properties: The Mornington Peninsula market is witnessing a significant rise in demand for well-finished, move-in ready properties. Buyers now prioritise convenience and immediate enjoyment, resulting in potential challenges for properties needing extensive renovations. 
  • Success through Off-Market Sales: Marshall White Real Estate takes pride in its team’s exceptional success in off-market sales. By prioritising proactive follow-up and building long-term trust with clients, our team has achieved remarkable results. Off-market sales offer unique opportunities for buyers and sellers to connect in a more discreet and tailored manner, creating mutually beneficial outcomes.
Image of water

The Mornington Peninsula property market presents a wealth of flourishing opportunities for buyers and sellers. With a stable market, low stock levels protecting sales prices, and a surge in investor activity, now is an ideal time to explore the region’s real estate landscape.

We are dedicated to providing exceptional service, harnessing our knowledge and commitment to help you navigate the Mornington Peninsula property market with confidence.

As you consider your next steps in real estate, bear in mind the significance of your agency choice. With our prestige suite of services including Sales, Finance, Concierge, Projects, and Property Management, our real estate experts are here to support you on your property journey and achieve your desired result.

Discover More

Image of land