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Mordialloc 3195: Beach, top schools and strong price growth

Real estate & property news
23 May 2022
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A tightly held suburb on Melbourne’s bayside strip, Mordialloc offers a premium lifestyle close to top schools and the beach.

A tightly held suburb on Melbourne’s bayside strip, Mordialloc offers a premium lifestyle close to top schools and the beach.

Situated 24km southeast of the CBD in the City of Kingston, 8,166 people called the suburb home at the 2016 Census.

The name Mordialloc is derived from the Aboriginal term ‘moody yallock’, which means water.

And the suburb has plenty of waterways to enjoy - from sunset strolls on the beach or a wander along Mordialloc Creek.

The latter is perhaps Mordialloc’s most well-known asset and has a long-associated history with traditional wooden boat building, as seen at the historic Pompei’s Landing.

Mordialloc comprises well-established and new homes on larger blocks that are popular with families wanting to be close to top schools including Mentone Girls’ Grammar, Haileybury College and Parkdale Secondary College.

However, getting a foot in the property market can be a challenge, because of low turnover. According to data from the Real Estate Institute of Victoria, the median house price in Mordialloc rose to $1.44 million in the 12 months to December 2021, while a typical unit was $880,000.

The suburb has “the benefit of peninsula lifestyle while only 35 minutes from the city”, according to Barry Plant Mordialloc auctioneer Chris Kavanagh.

“It’s a very good lifestyle with easy access to golf courses, parks and the beach,” he said.

“There are boat ramps and everything else of that nature, plus all the infrastructure from a very developed suburb.”

Partly sitting beachside off the Nepean Highway, the suburb has a train station that connects to the city and the Mornington Peninsula, with regular services running along the Frankston line. Five bus routes service the suburb and its surrounds, while Moorabbin Airport, Costco and DFO shopping centre are also close by.

A number of shops and cafes are also accessible along Main Street and Beach Road. The pier and foreshore are popular during the weekends and summer, and there is also easy access to some of Melbourne’s top golf courses.

Residents also enjoy a number of community facilities including the beachfront Peter Scullin Reserve and Mordialloc Skatepark. They also get involved with the local Mordialloc Surf Life Saving Club or Mordialloc Football Netball Club.

In late 2021, Mordialloc was listed among the top-performing suburbs in the city’s south, with the median house price rising 19.1 per cent over 12 months to $1,193,750, according to data.

In May 2022, the suburb’s median house price was $1,300,500 based on 88 sales over 12 months. The median unit and apartment price was $697,500 based on 84 sales.

On the rental front, houses here have the potential to lease for $600 a week with an annual rental yield of 2.6 per cent, while units can fetch $420 a week with a yield of 3.5 per cent.

Real estate & property news
23 May 2022
Save Article

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