Suburb spotlight on: Mentone, VIC
Who’s got top market share?
Mentone’s property prices have grown at a cracking pace in the couple years, seeing a very healthy 12.8% rise in the attractive and well-connected bayside suburb. A wide variety of architecture is available, from Victorian and Edwardian to a more contemporary style providing a big choice of property for families looking to move to the area.
Let’s look at the market share in the area. Buxton Mentone at 25% has the greatest market share, followed by Hodges Mentone at 19%. Hockingstuart Mentone round out the top three with 14%.
While the average house price is just over $1 million, don’t underestimate the rental market with CoreLogic Data telling us that renters represent 33% of the market and 52% of the population classified as single. It’s an investors market, and the rent roll accounts for a lucrative opportunity.
Mentone is a sought-after location with rocketing house prices; the sun could shine on a profitable Ray White office. If it’s an area of interest for you, we can help you build a competitive business. Talk to us today.