160 Bungower Road, Mornington VIC 3931
160 Bungower Road, Mornington VIC 3931
Large 5-bed acreage holding | Mornington semi-rural pocket | Self-contained bungalow plus studio | Bushfire overlay noted | Suits equestrian or multi-generational buyers
What stands out here is the land-to-dwelling ratio. Most Mornington stock is compact villa or unit product, so a north-facing five-bedroom house on roughly 1.5 acres with a separate bungalow and studio is genuinely uncommon for the suburb. The configuration suits buyers who want space for horses, extended family living, or a home-based business without leaving the township. The slate flooring, timber kitchen, and wood heater give it a country character that matches the semi-rural setting, and the sheltered alfresco areas extend the usable footprint. It is not a high-spec renovation, but the flexibility of the layout and the sheer size of the block carry the appeal.
The bushfire overlay is the main factor to weigh. It may affect insurance premiums and could narrow the buyer pool, though it does not appear to have deterred the current pricing. The property’s value is driven more by land utility and ancillary improvements than by the main dwelling’s finish, so condition of the bungalow and studio matters. Rental yield sits low against the asking figure, which suggests the price reflects lifestyle and land potential rather than income return. Buyers should also consider the cost of maintaining a larger block and whether the single-level footprint suits their long-term needs.
|| Comparable Sales: 26/110 Bungower Road sold $680k–$740k; 17/110 Bungower Road listed $695k–$755k | Property Price Band: $1.8M–$1.9M | Value Drivers: land size, bungalow/studio flexibility, bushfire overlay impact
Detailed Independent Property Report prepared by PropCred Analyst team for 160 Bungower Road, Mornington VIC 3931
Checks found:
Value Risk
Liquidity Risk
1
Planning Risk
1
Income Risk
1
Execution Risk
2
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Market Insight
Mornington VIC 3931 holds a coastal lifestyle position within commuter reach of Melbourne via Peninsula Link and the Frankston line, supported by retail hubs such as Mornington Plaza. Demand is driven by families aged 40-59, with 77.5% owner-occupiers and 48.2% family households, plus Melbourne downsizers seeking lifestyle properties and investors targeting units. Median house prices sit around $1.08m-$1.12m, but annual growth is mixed: recent readings range from -1.82% to +1.8%, with one gauge showing +3.2% for all dwellings. Units are firmer, with medians of $741,000-$782,500 and annual growth between 4.7% and 8.8%. Houses sell in 25-38 days, and annual sales volumes of 336-474 indicate steady turnover. Rental yields are modest: 3.35%-3.8% for houses, around 4% for units, with house rents at $700-$725 weekly. Future drivers include school catchments with NAPLAN results above state averages, infrastructure upgrades, and investor demand for units. Key constraints are high entry prices limiting first-home buyers, sensitivity to interest rates evidenced by fluctuating growth, and steady supply of around 500 annual sales.
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PropCred Estimated Value
Comparable Sales: 26/110 Bungower Road sold $680k–$740k; 17/110 Bungower Road listed $695k–$755k | Property Price Band: $1.8M–$1.9M | Value Drivers: land size, bungalow/studio flexibility, bushfire overlay impact
Bedrooms
5
Bathroom
2
Parking
4
Land
1.5 acres
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst
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