2021 was a very interesting year for the Australian Property Market. Despite lockdowns, the Australian Property Market had phenomenal growth throughout the year.
Let’s look at what happened during 2021 in some of the Mornington Peninsula suburbs.
The median value of property prices saw dramatic growth, due to low interest rates, low volume of stock and the increase of buyers looking for lifestyle locations like the Mornington Peninsula.
What should we expect in 2022 for the Mornington Peninsula Property Market?
- The search for lifestyle locations will continue to be in demand.
- An increase in stock at the beginning of 2022.
- The likelihood that interest rates will go up (Source: Sydney Morning Herald).
Lifestyle Property Highlight: December
22 Tourello Road - Mount Eliza - Undisclosed
Bringing the taste of Tuscany to Mount Eliza, this December sale stood out. Listed by Coastal Agents (Lizz Todd) with a price range of $3M – $3.3M.
Investment Property Highlight: December
32 Francis Street, Dromana, Vic 3936 - $2,000,000
Sold by Bennets (Michael Mangan), this fantastic development site to buy and hold has great potential to build 6 townhouses comfortably.