mentone

3194, Victoria

Real Estate & Property Information

Median
Price Rank
114

mentone Suburb Profile & Review

Mentone is a popular beachside suburb in Melbourne's south-east, just past Beaumaris and Cheltenham. It is located forty minutes from the inner city along the Nepean Highway. Trains run regularly from Mentone Station.

There are a number of reputable schools in the area, including Mentone Grammar School, a co-ed private school; St Bede's College, a private Christian boys' school; and Mentone Girls' Grammar, a kindergarten to Year 12 school which receives excellent VCE results.

Fantastic restaurants and cafes are based in the streets surrounding the train station; particularly Balcolme Road, Como Parade West and Mentone Parade. The Mentone Hotel, a beloved watering hole, boasts a newly renovated beer garden and an inviting restaurant with its own wood-fired pizza oven. In the surrounding shopping district there are the standard amenities, including a Coles supermarket. For even more shopping, Southland is a five minute drive along the Nepean Highway.

mentone Demographic Data

$ 697,500 Median House Price

34 Minutes Average Commute

41 Median Age

11,667 Population

52.42 % Female

47.58 % Male

3105 NO OF FAMILIES

1.7 AVG CHILDREN PER FAMILY

0.9 AVG MOTOR VEHICLE PER DWELLING

What this means

The following data, without any explanation, is just that, raw data. So in order to help you research the property market, we have outlined what this demographic and real estate information means and how it can be interpreted to help you make a smarter decision when buying or selling your next house or unit in mentone, Victoria.

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mentone Demographic Data

The demographic data below has been supplied by the Australian Bureau of Statistics (ABS), which is a government body. It is based on Census data collected every 5 years on the Australian population. Although it is dated 2011, this is the latest data available and should give property investors, property buyers and sellers a very good idea when researching or reviewing their suburb.

It’s important to note when looking at this data that you don’t just use it on its own. Consider this demographic and real estate data as a whole and seek advice from a professional when thinking of buying or selling your next property.

mentone Median House Prices

  • 2008 $ 607,250
  • 2009 $ 643,000
  • 2010 $ 590,000
  • 2011 $ 711,000
  • 2012 $ 697,500

What this means

Median values are the most accepted measure of property values in the real estate industry in Australia. The median is the midpoint (the middle) figure when all the sold property prices over a particular period of time are ordered from their lowest to their highest value.

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mentone 5 Year Median House Prices

Here we have outlined the median value for all sales for each year over a period of 5 years. This is a more realistic timeframe when gauging how houses and units in mentone have performed, and it usually indicates how they will perform in the future.

Median values less than 3 months old are often not always accurate (due to incomplete data) and therefore cannot be relied upon for long-term mentone property price predictions.

mentone Market Property Types

  • 50 % Seperate House
  • 17 % Semi Detached
  • 33 % Flat or Unit
  • 0 % Other Dwelling

What this means

The property type in your suburb will help you identify the density of the area. The greater the number of flats, units and apartments, the more likely it is the suburb has a higher density of living and occupants are more reliant on public transport, cafes, restaurants, convenience stores and amenities, infrastructure and less reliant on their own vehicle for transport.

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mentone Market Property Types

Typically, inner city suburbs within 10km of the CBD are comprised of apartments and semi-detached homes, while middle ring suburbs have semi-detached and detached properties. Rural properties would most likely fall under the “other” category.

This ABS Property Type data combined with Population Density and Family Composition figures gives a good indication of the type of people living in an area and therefore what type of property (1-2 bed apartment or house) would be an ideal investment or property to live in.

mentone Income & Mortgage Stats

  • $ 1,288 Median Weekly Household Income
  • $ 2,000 Median Monthly Mortgage

What this means

This is one of the most compelling statistics in this section because it has a profound impact on real estate prices. It should always be considered when buying or selling property in mentone

Experts believe mortgage stress occurs in real estate when property owners are spending over 30% of their gross income on their mortgage repayments. These figures show weekly income and monthly mortgages.

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mentone Income & Mortgage Stats

To calculate the percentage of income paid towards a mortgage for the suburb of Melbourne, multiply the mortgage payment (e.g. $2450) by 12 then divide this figure by the weekly income (e.g. $1200) multiplied by 52 (weeks) to look like this ($2450 x12/$1200 x 52) x 100 = 47%

Any figure above 30% usually indicates that the suburb you intend to buy in may have property owners with a high incidence of mortgage stress. In terms of maintaining or growing property values in the future and trying to secure a strong property price when selling, this could have an impact, especially in an economic or local industry downturn.

mentone Sold Property Prices

mentone Real Estate Experts

In each suburb we have identified real estate agents who are active local experts. Our goal is to have a network of real estate agents that have been reviewed by previous clients for future buyers and sellers to rely on when making their next property move or even when they just wanting real estate advice.

mentone Related Local Blog Posts

Immigrants Are Pushing House Prices Higher

Much of Australia’s history and success has been built on the back immigration but are the current intake levels too high and how are they impacting prices?

Hangover Stock Brings About Buying Opportunities

This week Melbourne’s auction market has been tested with over 1200 properties reportedly going under the hammer over the weekend. Although both Domain and the REIV show clearance rates at nearly 70%, this on the surface seems good but in actual fact is 10% down for the same time last year. Speaking to a number of agents around town confirms….

Where is The Property Market Heading?

There has been a lot of “white noise” surrounding the Sydney and Melbourne property market over the last few months and it has taken me a while to determine which way things were actually going to go. Is the Australian property market heading down the gurgler or is this just a glitch?

Property Market Trends in Melbourne Which Could Affect Prices

In this final edition we look at what how the Melbourne property market has fared and what whether we are likely to see any changes in property prices, demand for property and economic drivers.

New Research Shows Consumers Who Don’t Own A Home Could Be Worse Off in Retirement

New Research released last week by Roy Morgan shows that people who don’t own a home have become worse off in terms of their net wealth and are jeopardising their retirement.

Is Australian Housing Heading for a Hard Landing or a Financial Cliff?

From my experience and talking with real estate agents the Melbourne market has softened no doubt, but are we heading towards a financial cliff?

mentone Restaurants

  • Thai Village Restaurant140 Balcombe Road mentone VIC 319403 9585 4433
  • Thai Today104 Nepean Hwy mentone VIC 319403 9584 0938
  • Tai Wah122 Balcombe Rd mentone VIC 319403 9583 2340

mentone Cafes

  • Fakis Music Cafe17 Como Paradementone VIC 319403 9584 7341
  • Mazes Essence9 Palermo Streetmentone VIC 319403 9584 3355
  • Issys Coffee Lounge138 Balcombe Rdmentone VIC 319403 9585 1607

mentone Schools

  • Kilbreda College118 Mentone Paradementone VIC 3194(03) 9584 7766Catholic Secondary School
  • St. Bedes College2 Mentone Paradementone VIC 3194(03) 9582 5999Catholic Secondary School
  • St. Patricks Primary School16 Childers Streetmentone VIC 3194(03) 9583 5033Catholic Primary School

mentone Childcare

  • Acacia Avenue Preschool35 Acacia Avenuementone VIC 3194
  • Australian Turkish Assoc CC33 Balcombe Roadmentone VIC 3194
  • Creative Beginnings CCC37 Blackwood Avementone VIC 3194

mentone Kindergarten and Preschools

  • Mentone Girls Grammar School11 Mentone Paradementone VIC 3194
  • Mentone Grammar School71-73 Naples Roadmentone VIC 3194
  • Mentone Preschool6 Station Streetmentone VIC 3194

mentone Sporting Centres and Clubs

  • Mentonementone VIC 3194Bowling Club
  • Mentone Grammarmentone VIC 3194Hockey Club
  • Mentone LSCmentone VIC 3194Surf Lifesaving Club

mentone Vets

  • Kingston Veterinary Hospitalmentone VIC 3194
  • Mentone Veterinary Hospitalmentone VIC 3194

Find out How Much your House is Worth in mentone

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