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Sorrento is a seaside village on the Mornington Peninsula, anchored by limestone cliffs, historic buildings and a busy pier. It has calm Port Phillip waters for swimming and boating on one side and a wilder Bass Strait coastline on the other, and sits close to Point Nepean National Park. Ocean Beach Road is the town heart with cafes, boutique shops and galleries, and there is a regular ferry link to Queenscliff. Housing ranges from cottages to larger beachside homes, and the area is favoured by families, retirees and people seeking a strong coastal lifestyle.

Sorrento has 2,013 residents and a median age of 64. Most families are couples without children (70.5%), and homes are mostly owner-occupied (86.7%) with 13.3% rented. Local planning is active: a council-adopted foreshore masterplan is progressing towards detailed design and identifies pedestrian and foreshore upgrades; coastal and mooring improvements around Sullivan Bay, a Parks Victoria port planning process and a completed heritage review of the pier are also part of the work, and proposals for an upgraded ferry terminal have been advanced.

On the figures, housing in Sorrento looks stretched against local incomes as recorded at the most recent Census. A typical local household earned $1,658 a week at the last Census, so a house rent of $788 a week would take about 47.5% of that weekly income and a unit rent of $760 a week would take about 45.8% — both a large share of a typical household's income. Buying is much more extreme: the median house price of $1,790,000 is about 20.8 times a typical local annual household income at the last Census, which sits well above local incomes. Whether that feels expensive depends on your own income and circumstances.

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

Over the past 12 months in Sorrento, rents rose for both property types: unit rents climbed a solid 8.7% while house rents increased by 5.1%. Units therefore outpaced houses on rental growth this year.

For someone weighing Sorrento up as an investment, these figures speak directly to rental income, with units the stronger performer over the year. Whether that suits your plans depends on your own goals and circumstances.

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.