Four Up and Coming areas on the Peninsula



The Peninsula has become one of the most popular places in Victoria over the last decade. Mt. Eliza, Mt. Martha and Mornington’s popularity has exploded, but there are other areas of the Peninsula that are starting to become more popular and are worth looking at before they become too expensive in the future.

Rosebud

Rosebud has seen a huge influx in price in the past 7-8 years. Since 2010, the median house price has risen almost $200,000, meaning the demand for the area has skyrocketed. It hasn’t reached its peak either, so if you’re looking into a home in the Peninsula area and Mornington is out of your price range, strongly consider taking a look around Rosebud.

Somerville

Somerville had one of the largest median house price jumps on the Peninsula between 2016 and 2017 and it looks to continue in 2018. Jumping almost $120,000 in 2017, Somerville, the once hidden away suburb just east of Mornington provides the best of both bays, sitting in the middle between the Western Port and Port Phillip, it also provides easy travel to Melbourne via the Peninsula Link. A perfect location.

Rye

Situated a bit further down the peninsula and after a plateau for a few years up until 2013, Rye has quickly become an investors paradise. After the median price jumped from $430,000 to nearly $660,000 in the space of five years, Rye has the potential to skyrocket further. With pristine beaches and closer access to Portsea and Sorrento’s back beaches for surfing, a house in Rye has become very sought after, whether it’s for a holiday home or a permanent residence.

Dromana

The suburb just before Rosebud has shown significant growth in the past few years. The median house price has risen from $490,000 to $690,000 since 2014 and will only continue to rise as investors look to buy quickly. It’s situated in a great spot just off the Mornington Peninsula Freeway and has easy access to Melbourne and some of the best beaches on the peninsula.

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