It is hard to believe that we have just stepped out of lockdown 4.0 and, at the time of writing, into yet another one 5.0, and that the first half of 2021 has now been put to bed. We experienced one of the busiest Summer markets ever on the Peninsula with extreme buyer demand, overflowing into Autumn, and now Winter, with buyers patiently waiting on the sidelines for the stock to come.
Holiday-goers from all over Victoria discovered the reason we call the Mornington Peninsula home by exploring the amazing attractions from the renown vineyards throughout Red Hill and Main Ridge, our pubs and restaurants with sensational seasonal food on offer, and finally relaxing and exploring the best that Port Phillip Bay has to offer from bayside beaches to the rugged ocean coastline.
We’ve observed an increased demand for holiday homes since international travel has been temporarily suspended. The ability to generate short term rental income, while also having personal use, coupled with the lowest interest rates in history, has made the prospect of holiday homes and weekenders on the Mornington Peninsula even more attractive than usual. Demand across the entire state, if not country, has been consistently strong since last October. The only momentary dips occurring during a snap lockdowns or school holiday periods as depicted in the REA Insights Weekly Demand Index – Buyers’ report below.