bayside

'Beach and prestige locale boost Kunyung Rd into most viewed streets (15 NOV 2018)
‘With the beach for a playground, it is little wonder that Kunyung Rd properties are among the nation’s most viewed listings.

The Mt Eliza stretch joins two other Mornington Peninsula roads on a list of most popular streets with homes for sale on realestate.com.au.

Kunyung Rd’s tightly held properties, with just four sales so far this year, also make it sought-after among house hunters.

The realestate.com.au data was collected from a three-year period.

“The road has some beautiful homes, well-known owners and landmark properties which would account for the interest on the street,” RT Edgar Mt Eliza director Vicki Sayers said.

RT Edgar sold a home located towards the end of the street near the water at No. 6 which had drawn huge interest.

The long-held property attracted 300 people on auction day in April and sold for almost $900,000 above the reserve for $3.59 million.

“This property would have driven a lot of traffic online,” Ms Sayers said. “And there was also the publicity around the former Ansett Estate.”

The well-known estate on 22.3ha sits on four titles at the corner of Kunyung Rd and Albatross Ave and fetched about $33 million when it sold last year. A retirement-living operator bought it.

A similar business also paid about $40 million for the former University of Melbourne Business School campus along Kunyung Rd. The 8.9ha site with beach frontage features conference facilities, offices, dining facilities plus a bar, vineyard, tennis and volleyball courts and residential accommodation.

“Kunyung Rd has some of the best properties in Mt Eliza,” Ms Sayers said.

“Kunyung Primary School is very popular and would have led many family buyers to check out the street’s properties.”

It is a long street with modest and very expensive homes, with properties without water views costing considerably less and entry-level home prices starting from $800,000, TJ Sparks Mt Eliza director Terry Sparks said.

“Homes closer to the water probably start at $2.5 million,” Mr Sparks said.

He cited one client who paid $2.5 million for a block to demolish the existing dwelling and build a new home.

There were four houses listed on realestate.com.au as of November 13. They included No. 43, which has a price guide above $1.6 million and comes with panoramic water views.

That immaculately maintained four-bedroom home with a pool has been held for almost four decades by the same family.

The street had one outstanding sale this year, with a street record price of $4.5 million set by 2-4 Kunyung Rd. It was sold in January by Nicholas Lynch.

The stunning clifftop home was on the market for the first time and features luxury details and finishes, resort-style facilities and an elevator.’

''HOMEOWNERS in the Mornington Peninsula are embracing the renovation sensation, spending almost $200 million in the past financial year.

The bulk of the spend at $165 million was on the peninsula, with $33 million in the Frankston region, the latest Australian Bureau of Statistics figures for the 2017-2018 financial year revealed.

Point Nepean-Rosebud area, which covers Portsea, Sorrento, Rye and Blairgowrie among others, accounted for $58 million worth of makeovers.

Local agents said the popularity of television shows like The Block, higher buyer expectations and better sale prices were among the reasons for the rise in renovations.

“Many owners renovate for their own benefit while others want to get better prices when they sell,” Danckert Real Estate director Sam Danckert said.

“It is now rare that a vendor will not agree to present a property well prior to sale,” he said.

The agency sold a renovated Prescott Ave, Mt Martha, house for $2.95 million earlier this year.

“The vendor had paid $1.6 million for it in 2016, made cosmetic changes and had the gardens done up and it sold for almost twice the purchase price.”

Owners should know where to invest their renovation dollars to get the best return, and agents suggested kitchens and bathrooms as the most common areas for makeovers.

“Buyers coming here have money to spend and want a home that is ready and renovations already done for them,” Harcourts Mt Eliza sales manager Jayme Wallison said.

“Vendors can maximise their returns with renovations and a $30,000-$40,000 spend can return $100,000.”

A renovated home at 113 Winona Rd, Mt Eliza, sold for $1.65 million recently and had been a $725,000 purchase, giving the vendors a huge price gain over eight years, Ms Wallison said.

1 Millbank Drive in the same suburb had a $40,000 makeover on a $1.05 million purchase in 2016. It then had a fresh coat of paintwork added and the outdoors spruced up, fetching $1.55 million this June.

“In areas that are tightly held, more and more older homes are being bought and renovated for sale,” she added.

The cooler market conditions mean that well-presented and renovated homes are exceeding expectations and getting multiple offers, Eview Joel Hood director Joel Hood said.

“Properties that are not well-presented stay on the market for longer because they do not attract buyers,” Mr Hood said.

He noted more agents were offering services related to styling or renovating to improve properties.

“This is to leverage better returns for vendors and we recommend staging even for ordinary properties,” he added.’

Williamstown, Altona, Newport and Point Cook are the main areas with a decent size english population. Generally the bayside suburbs have a larger British community. Crime is definitely a big factor to consider in the western suburbs. 

Speaking of tourists, the Mornington Peninsula had a 20% increase in tourists in 2018 compared to the previous year. This really shows the growth in popularity of the area.

On 04/12/2018 at 19:02, NickyNook said:

Do you work for the Mornington Peninsula Tourist Board or something? 

Or maybe you're a Real Estate agent in the area trying to drum up business?

 

 

No. I'm simply familiar with the area and read the news. I enjoy analysing the property market too 

Outsiders and locals kept Mornington Peninsula prices steady in spring 2018

‘QUICK sales, packed inspections and outsider demand should see Mornington Peninsula sellers continue do well this spring.

While prices and sales in many Melbourne regions have slowed, local agents said the peninsula was a very different market and still performing strongly.

Mornington and Dromana were recently listed among top-performing Melbourne suburbs for price growth, according to the Real Estate Institute of Victoria.

“The peninsula continues to attract buyers from Melbourne suburbs and we saw a stronger winter market this year compared to last year,” agency director Nicholas Lynch said.

“There are few signs of a slowdown in the peninsula and for example, Mornington is among the most search suburbs on realestate.com.au.”

Mr Lynch noted that high demand and limited supply meant prices would remain strong in the region.

He cited a recent off-market Mornington sale of almost $2 million, with the property fetching $1.6 million just 12 months earlier.

“This price gain of $380,000 in a short time shows the strength of properties and the demand,” Mr Lynch said.

Three recent Mt Eliza along Mather Rd also pointed to a healthy market, agents said.

No. 53 Mather Rd sold in a week to a local buyer with a price guide of $1.3-$1.4 million.

In August, No. 95 had 60 groups at the inspections for RT Edgar Mt Eliza and the mid-century home fetched $1.575 million.

It had interest from overseas and city buyers and sold beyond its $1.4 million-$1.54 million guide. The agency also sold 104 Mather Rd in August for $1.29 million to a local buyer.

Meanwhile, a three-bedroom Mornington unit on 375sq m at 1/7 Barkly St had its first inspection on September 1, attracting 40 groups.

It had five offers soon after because it represented “good value and had a good location”, RT Edgar Mt Eliza director Vicki Sayers said.

“There is no doom and gloom here on the peninsula. Some heat might have come off the market but sellers are still getting strong prices and homes are selling quickly.”

She nominated Mt Eliza, Mt Martha and Mornington as suburbs which should perform well this spring because of demand from family buyers and also investors.

In Mornington, the median house price was $882,000 in the year to June, with a quarterly change of 15.4 per cent, according to REIV figures.

Dromana’s median house price was up 10 per cent to $830,000 over the same period.

“We see all property segments doing well because of the range of buyers heading to the peninsula,” Mr Lynch said,

He expected prices would continue to rise due to demand and because the peninsula was “becoming a destination of choice for buyers from the city, interstate and also overseas”.’

https://www.realestate.com.au/news/outsiders-and-locals-to-keep-mornington-peninsula-prices-steady-in-spring/

Here are photos of Mornington

‘Near perfect gains for Mornington Peninsula sellers – September 20 2018

‘MORNINGTON PENINSULA home sellers chalked up $264 million in profits in the June quarter to emerge among the top Melbourne council regions.

And at 99.5 per cent, nearly all the peninsula’s sellers made profits, with a median gain of $341,500, according to the latest CoreLogic Pain and Gain report.

In contrast, “with dwelling values continuing to fall throughout the city, the share of houses and units resold for a loss rose over the quarter” across Melbourne, the report noted.

The news was also good in neighbouring Frankston, where 100 per cent of June quarter sellers made a profit, totalling $158 million.

Local agents have noted the peninsula’s properties have been undervalued for a long time and were attracting cashed-up buyers from other suburbs and those seeking a sea or tree change.

Many peninsula houses have chalked up annual median price gains of 15-20 per cent, giving sellers large profits.

“There is plenty of doom and gloom in the Melbourne market, but not in the Mornington Peninsula,” Vicki Sayers of RT Edgar Mt Eliza said.

“The changed market elsewhere will actually make the peninsula’s properties more attractive to buyers and investors.”

She noted that while “some heat has come off the local market”, the limited supply of listings and still strong demand from local and outside buyers would reward sellers.

Impact Realty Group director James Merchan said losses from resales were often due to being forced to sell, for example, due to a marriage breakdown or an unexpected event.

“Anyone who sells will be in profit territory unless they overpaid or purchased recently and are forced to sell,” Mr Merchan said.

“I would be shocked if anyone who sold in the last 12 years would have made a loss.”

In Mt Eliza, two homes on the same street which were purchased in 2011 sold earlier this year with large price gains for the vendors, Mr Merchan said.

No. 129 Mountain View Rd fetched $1.28 million in March, after being purchased for $685,000, while No. 68 sold for $870,000 after being bought for just $512,000.

Another Mt Eliza house at 48 Humphries Rd gained $933,500 between sales when it fetched $1.595 million in May. It had undergone a renovation, which boosted the strong result.’

NAPLAN scores

Here are the best performing suburbs in Victoria and best performing regions in Australia.

Melbourne has vastly more to offer 

The inner-eastern and south-eastern suburbs are the best areas.

Mount Waverley has really popular schools and is very family friendly. However, places like Box Hill and Glen Waverley are very popular with the Chinese.

Nearby Kew is also really affluent and a nicely tree-lined area.

Chinese =  Box Hill, Blackburn, Glen Waverley, Doncaster and Clayton

British = Mount Eliza, Mornington, Mount Martha, Safety Beach and Bangholme (Mornington Peninsula)

Indian = Glen Waverley, Endeavour Hills, Hampton Park, Narre Warren and Clayton

Jewish with North Caulfield, Caulfield, St. Kilda East, 

Middle Eastern with Northern and South Western Suburbs

Lebanese with Brunswick, Broadmeadows, Coburg, Fawkner 

Along the bayside suburbs or you could try the inner-eastern suburbs around Hawthorn, Caulfield or Kew. Bentleigh also may be more affordable but isn't nearly as affluent. I would suggest the Mornington Peninsula too but the only nearest train station is Frankston. 

Hawthorn is in the exclusive inner eastern suburbs. It is very affluent and has stunning tree-lined streets. Not heavily multicultural either. Great place to stay and live.

'RICHMOND’S Highett St has trumped prestigious stretches in Portsea and Brighton to be revealed as Melbourne’s most popular street among househunters.

Black Rock’s Beach Rd, Mt Eliza’s Kunyung Rd, Portsea’s Point Nepean Rd, Patterson Lakes’ Palm Beach Drive, Brighton’s North Rd and Donvale’s Old Warrandyte Rd rounded out Melbourne’s top 10.

Realestate.com.au chief economist Nerida Conisbee said the desirable streets were all in “aspirational suburbs” and offered a mix of water views, large houses and closeness to amenities.

Melbourne’s most popular streets among househunters

1. Highett St, Richmond

2. Watts Pde, Mt Eliza

3. Wiltshire Drive, Kew

4. Francis St, Yarraville

5. Beach Rd, Black Rock

6. Kunyung Rd, Mt Eliza

7. Point Nepean Rd, Portsea

8. Palm Beach Rd, Patterson Lakes

9. North Rd, Brighton

10. Old Warrandyte Rd, Donvale

Source: realestate.com.au, based on property views over the three years to September 30. Streets must have had at least 10 properties listed for sale over that period'

It is better in person you really have to see it for yourself! Not just in summer. In winter the inland wineries around popular Red Hill are stunning! The new Mordialloc Freeway is set to make the commute that much more easier with travel time reductions of 10mins minimum. This is particularly good for those traveling via the Mornington Peninsula Link.

Mt Martha, Mornington and Mt Eliza are significantly better suburbs than Langwarrin. Mt Eliza specifically has the best schools. Toorak College and Peninsula Grammar have been ranked within the top 50 schools in Melbourne. Mornington also has plenty of good schools with expansion. Padua College has undergone an extension redevelopment and so has the local primary school. Balcombe Grammar School is also a good choice with ultra modern facilities and great teachers. Plus these beachside suburbs are very popular with families and have one of the highest population of UK-born migrants.

7.7% of the Somerville's population is from England so it shouldn't be too difficult :)

Mt Eliza is particularly great as it has the 2nd highest population of poms in a single suburb in Melbourne. Mt Eliza is 13% British and that's 2,325 poms in the suburbs population of 17,888 alone. Mt Martha, Mornington, Safety Beach and Mt Eliza combined have the largest population of poms in all of Melbourne. 

Mornington or Mt Eliza will provide really substantial leafy blocks near the bay and are nearby Frankston train station.

the inner eastern suburbs are renowned for being very leafy 

Dromana and Rosebud are some of the cheaper suburbs on the Mornington Peninsula. In terms of commuting to Melbourne, fortunately the Mornington Peninsula Freeway is nearby which should make it an easier commute. The new Mordiallloc Freeway may also make it easier for commuting from the Mornington Peninsula to the city. Nonetheless, the area has always been popular for holiday houses and wealthy retirees however it has become significantly more family focused in recent years. Plenty of goods schools are available in Mt Martha and Mornington which are nearby. you may wish to look in Safety Beach if you want to have easier access to these schools. Dromana is nice beachside suburb and is becoming increasingly popular due to being on the more affordable side.