Question 1

Is Mornington a nice place to live?

Accepted Answer

Mornington is an established residential suburb in Hobart’s northern suburbs, with modest tree-lined streets and a mix of mid-century weatherboard and brick homes alongside pockets of newer infill. It attracts a broad cross-section of residents, from young families to people who commute to nearby employment centres. The community numbers 2,469 people and has a median age of 36, with a median total household income of $1,423 a week (about $74,000 a year). Homes are mostly owner-occupied, with roughly two in three owned outright or with a mortgage and about one third rented.

Everyday needs are met by small neighbourhood shops and ready access to larger retail in neighbouring centres, while local parks, sporting ovals and community facilities provide regular recreation. The area is well served by bus routes and main roads, making it a practical, down-to-earth place to live close to the city. The suburb is also the focus of planned transport upgrades and active precinct and social-housing activity, including a development application for 52 new social and affordable rental homes; whether Mornington suits you will depend on the mix of established housing, local services and upcoming projects.

Question 2

Is it expensive to live in Mornington?

Accepted Answer

Housing in Mornington (TAS 7018) sits high against local incomes as recorded at the most recent Census. A median house price of $715,000 is about 9.7 times a typical local household's annual income at the last Census, and a house rent of $578 a week would take roughly 40.6% of that typical weekly household income (about 41%), a large share. On these figures both buying and renting represent a sizeable stretch against what people locally earned at the last Census, and whether that feels expensive depends on your own circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Question 3

Is Mornington a good place to invest?

Accepted Answer

Over the past 12 months the house market in Mornington recorded strong capital growth, with median house values up 17.9%. House rents also rose, increasing 5.1% over the year, a solid gain for rental income. Which of those outcomes matters more to you depends on whether your priority is capital growth or rental income.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.

	Houses	Units
Median price Past 3 months	$715K	N/A
Change in value Past 12 months	17.9%	N/A
Sold Past 3 months	17	4
Median days on market Past 12 months	19	N/A
Average rent Past 12 months	$578	N/A
Change in rent Past 12 months	5.1%	N/A

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