Mornington Peninsula’s Highest Growth Suburbs

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A 12-Month Snapshot

17 May 2024

Despite recent instability across the housing market, a select few areas of the Mornington Peninsula have proven to be outliers to this trend, with standout suburbs defying broader market patterns and recording a considerable increase in house prices during the past 12 months.

Balnarring Beach witnessed a remarkable 25.0% increase in house prices over the past year. This coastal suburb's strong performance can be attributed to its stunning beachfront properties, tranquil lifestyle, and appeal to both holidaymakers and permanent residents seeking a peaceful escape from the city.

"Balnarring Beach has been depicted by my vendors as a slice of heaven on earth," says John Bongiorno, Marshall White Sales Director. "A charming beachside town located just minutes from Balnarring, which offers restaurants, supermarkets, schools, and an overall idyllic living environment only an hour from Melbourne CBD, the demand for properties here continues to rise, driving significant price increases."

Flinders follows closely with a 22.4% increase in house prices in the past 12 months. Known for its scenic landscapes, charming village atmosphere, and proximity to both the coast and countryside, Flinders has become a highly sought-after destination for those looking to enjoy the best of coastal and rural living.

Red Hill saw a 4.8% rise in house prices, making it another noteworthy suburb on the Mornington Peninsula. Renowned for its vineyards, gourmet food offerings, and rural charm, Red Hill attracts buyers who appreciate a lifestyle centred around community spirit and natural beauty.

The strong performance of Balnarring Beach, Flinders, and Red Hill exemplifies the Mornington Peninsula's enduring appeal. These suburbs have flourished in the past 12 months, showcasing the value of investing in locations that offer a unique combination of natural beauty, tranquillity, lifestyle amenities, and proximity to Melbourne CBD. As buyers increasingly prioritise quality of life, the Mornington Peninsula is well-positioned to continue attracting discerning investors and homeowners alike. This region is set for ongoing success and growth in the years to come, cementing its status as a highly desirable destination within the property landscape.