Inside the Mornington Peninsula Property Market

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 moderate pullback, confidence remains high. In June, our office conducted an impressive total of 109 appraisals, reflecting the market’s continued activity.
• Investor Presence and Diverse Opportunities: The market has recently witnessed an upsurge 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 and non-committal attitudes amongst potential buyers. While inspection numbers remain consistent initially, 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.
• Surging Demand for Turnkey Properties: The Mornington Peninsula market is witnessing a notable rise in demand for well-finished, move-in ready properties. Buyers now prioritize convenience and immediate enjoyment, resulting in greater challenges for properties needing extensive renovations. This shift underscores the high desirability of turnkey properties in the current market.
• 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 fostering 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.

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.