Mornington Peninsula (Victoria's highest profit making renovation area)

Discussion in 'Renovation & Home Improvement' started by johnmteliza, 28th Aug, 2018.

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  1. johnmteliza

    johnmteliza Well-Known Member

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    The Mornington Peninsula had the state’s highest proportion of profit making flips/renovations given 98.2% of projects sold for a profit during resale. Discuss you Mornington Peninsula renovation successes below!
     
    johnmteliza, 28th Aug, 2018
    #1
    Codie likes this.
  2. johnmteliza

    johnmteliza Well-Known Member

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    The Mornington Peninsula had the 3rd highest value of renovations in Australia worth 238m in 2016.
     
    johnmteliza, 3rd Sep, 2018
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  3. Squirt

    Squirt Active Member

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    Hi John, I've been watching this area for renovations. Where are you getting your stats from?
     
    Squirt, 8th Sep, 2018
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  4. johnmteliza

    johnmteliza Well-Known Member

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    Hi, the level of renovation was found from id which is a company specialised in demographic data. You can view the data here. The % of profit from renovations was also sourced from here.
     
    johnmteliza, 8th Sep, 2018
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  5. johnmteliza

    johnmteliza Well-Known Member

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    johnmteliza, 8th Sep, 2018
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  6. johnmteliza

    johnmteliza Well-Known Member

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    Ming Haw Lim states 'HOMEOWNERS in the Mornington Peninsula are embracing the renovation sensation, spending almost $200 million in the past financial year'. You can click this link to read more. The article was only posted yesterday! The majority of the renovating is also occurring in the most expensive and premium suburbs. Another trend is that renovation properties are selling much faster than non-renovated properties. It is clear people moving to the Mornington Peninsula want the best renovated houses in the best suburbs.

    This article may also be of interest. 'Mornington Peninsula buyers get market off to a great spring start' also only posted a few days ago. 59 Beluga St, Mt Eliza is also another stand out renovation success which is on the market currently. 'Mt Eliza beachside showpiece gets new life from dull 70s build.' You can read it here. This article was also only posted a few days ago.
     
    johnmteliza, 12th Sep, 2018
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  7. Spiderman

    Spiderman Well-Known Member

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    Spiderman, 17th Nov, 2018
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  8. johnmteliza

    johnmteliza Well-Known Member

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    It definitely stands out from other houses in the area. Very unique property and a rare 'renovation'. 59 Beluga St, Mt Eliza has been renovated to cater to a more common taste.
     
    johnmteliza, 12th Dec, 2018
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  9. johnmteliza

    johnmteliza Well-Known Member

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    johnmteliza, 10th Feb, 2019
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  10. Jade77

    Jade77 New Member

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    The new owners have repainted - all white!
     
    Jade77, 25th Jul, 2020
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  11. Zimplestiltskin

    Zimplestiltskin Well-Known Member

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    Melbourne boomers love the area. I'm sure many have sold up in the melburbs to move down there and renovate a place.
     
    Zimplestiltskin, 26th Jul, 2020
    #11