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Mount Eliza is a delightful suburb that offers a serene and picturesque lifestyle, making it a wonderful place to call home. Nestled on the Mornington Peninsula, it boasts a charming coastal vibe with stunning natural landscapes that provide a tranquil escape from the hustle and bustle of city life. The suburb is known for its lush greenery and beautiful beaches, creating a peaceful environment that is perfect for families and those seeking a relaxed lifestyle. The vibrant community spirit is evident in the local Mount Eliza Village, where residents can enjoy a variety of boutique shops, cafes, and essential services.

Families will find Mount Eliza particularly appealing due to its excellent schools and recreational facilities, which contribute to a nurturing environment for children. The suburb's safety and strong sense of community make it an ideal place for raising a family. While Mount Eliza offers a peaceful and connected lifestyle, it does come with a few trade-offs. The suburb's premium location and desirable amenities mean that property prices can be higher compared to other areas, and the ongoing developments may lead to increased demand and property values.

For those who appreciate a balance of natural beauty and modern conveniences, Mount Eliza is a fantastic choice. The suburb's proximity to both the scenic attractions of the Mornington Peninsula and the urban conveniences of Melbourne ensures that residents enjoy the best of both worlds. While it may lack the bustling nightlife of inner-city areas, the suburb more than makes up for it with its charming community feel and access to outdoor activities. Overall, Mount Eliza offers a high quality of life for those seeking a peaceful and fulfilling lifestyle in a beautiful coastal setting.

Living in Mount Eliza can be quite expensive, especially when you consider the current property market. The median house price is a hefty $1,600,000, and units aren't exactly cheap either, with a median price of $845,000. If you're thinking about renting, the average rent for houses is $995 per week, while units average around $540 per week. These figures reflect the suburb's appeal, with its beautiful surroundings and proximity to the Mornington Peninsula's stunning beaches.

When you compare the average wage in Mount Eliza, which is about $77,000 per year, to the average wage in Victoria, it becomes clear that living here could stretch the budget for many. The median total household income in Mount Eliza is $2,547 per week, which is relatively high, but given the property prices and rental rates, a significant portion of income would need to be allocated to housing costs. This makes Mount Eliza less affordable for those earning an average salary in the area.

Overall, while Mount Eliza offers a desirable lifestyle with its natural beauty and community atmosphere, the cost of living, particularly in terms of housing, is on the higher side. If you're considering making Mount Eliza your home, it's important to evaluate your financial situation to ensure it aligns with the expenses associated with living in this picturesque suburb.

Mount Eliza presents an intriguing opportunity for property investors, especially those interested in rental income. While the median house value has remained stable over the past year, the suburb has seen a notable 7% increase in median unit values. This suggests a growing demand for more affordable housing options, which could be appealing for investors looking to tap into the unit market.

Rental yields in Mount Eliza are particularly promising, with house rents increasing by 10.6% and unit rents by 11.9% over the last 12 months. This trend indicates a strong rental market, likely driven by the suburb's desirable lifestyle and proximity to the Mornington Peninsula's natural attractions. For investors, this means the potential for solid rental returns, making Mount Eliza an attractive option for those seeking consistent income.

Overall, while Mount Eliza may not be experiencing rapid capital growth in house values, its stable market and strong rental performance make it a worthwhile consideration for investors. The suburb's appeal lies in its balance of lifestyle, affordability, and rental demand, offering a reliable investment opportunity in the current market climate.