Dromana, located on the scenic Mornington Peninsula in Victoria, presents a dynamic housing market characterized by its increasing appeal to both permanent residents and holidaymakers. Over recent years, the area has witnessed a steady appreciation in property values, driven by its attractive coastal location and the lifestyle offerings inherent in the region. The market caters to a diverse demographic, including families, retirees, and young professionals seeking a sea change. The residential landscape in Dromana is a blend of older, charming beachside cottages and modern architectural homes, reflecting a community that respects its rich history while embracing contemporary living. The proximity to Melbourne, approximately an hour's drive, adds to its appeal as a viable commuter town, enhancing property demand further. With ongoing development and infrastructure improvements, Dromana's housing market remains buoyant, with potential for continued growth.
Living in Dromana offers a quintessential coastal experience marked by a relaxed atmosphere and abundant natural beauty. Residents enjoy access to pristine beaches, ideal for swimming, boating, and fishing, contributing to a laid-back lifestyle that is a hallmark of the Mornington Peninsula. The town boasts a vibrant local community with a range of cafes, restaurants, and boutique shops, reflecting a growing cosmopolitan flair while retaining its small-town charm. The surrounding area offers numerous parks, walking trails, and wineries, making it a haven for outdoor enthusiasts and those who appreciate local produce and wine. Dromana's community spirit is exemplified through regular markets and events that bring locals and visitors together, fostering a strong sense of belonging and community engagement. Overall, living in Dromana provides a picturesque setting that balances tranquility with modern conveniences, offering an enviable quality of life.
Median Weekly Rent | $383.50 |
Median Monthly Mortgage | $1685.75 |
Median Persons Per bed houseroom | 0.71 |
Average Household Size | 2.13 |
Average Age | 48.63 |
Average Income | $676.50 |
Average Cars Per Dwelling | 1.73 |
Average Properties Within 50M | 17 |
Typical 1 bed house | $1,230,000 |
Typical 2 bed house | $1,082,000 |
Typical 3 bed house | $1,300,000 |
Typical 4 bed house | $1,758,000 |
Typical 5 bed house | $2,023,000 |
Typical 6 bed+ house | $2,072,000 |
Housing Stock
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Thinking about buying in Dromana? Now could not be a better time, with 6971 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $1,333,000 with prices in this suburb ranging from $80,000 to $10,126,000. Dromana is located very near to the coast so expect stunning views of the ocean and access to beaches. Demand is likely to be very strong in this location which will support higher prices
Prices are above market average and increase steadily under persistent demand. A more sustainable rate of price growth is anticipated in the short to medium term. In this area of average incomes, there is a mix of housing size and quality. While this may present buying opportunities, growth may be constrained. As buyers begin to examine Dromana due to other areas being out of the price range and the trend to working from home, "gentrification" may incease price growth. A mix of professions and above average income earners in Dromana provides good demand. The lower than average housing turnover of these people also means fewer regular listings leading to periodic large price increases. Medium density in Dromana necessitates a mix of lifestyle options for housing, shops, open areas, and facilties. Where this is available, demand is high and growth ensured. Lower than average industry presence in Dromana we believe will be less of a negative impact than it has in the past. Post-COVID and the growth in working from home has lessened the demand for local employment options. This may make Dromana a better buying opportunity than it may have been in the past.
Instant Property ValuationPeninsula Specialist College
Dromana Primary School
Dromana Secondary College
Red Hill Consolidated School
(While the above schools are located with the suburb of Dromana there may also be nearby schools whose catchments cover this suburb)Incidents Trend State Average
(mm) RAIN | Min (°C) TEMP | Max (°C) TEMP | Min (%) HUMIDITY | Max (%) HUMIDITY | (m/sec) WIND | (MJ/sq m) SOLAR | |
---|---|---|---|---|---|---|---|
Jan | 1.4 | 13.8 | 24.7 | 46.6 | 86.5 | 3.6 | 24.7 |
Feb | 1.2 | 14.3 | 25.8 | 44.2 | 86.2 | 3.3 | 20.3 |
Mar | 1.4 | 13.0 | 23.6 | 46.4 | 87.1 | 3.0 | 15.4 |
Apr | 2.1 | 10.5 | 20.0 | 52.2 | 89.5 | 2.7 | 11.9 |
May | 2.4 | 8.4 | 16.7 | 57.8 | 89.3 | 2.9 | 8.4 |
Jun | 2.4 | 6.4 | 14.3 | 63.7 | 90.3 | 2.6 | 7.2 |
Jul | 2.0 | 6.2 | 13.7 | 61.4 | 88.7 | 3.1 | 7.4 |
Aug | 2.2 | 6.8 | 14.6 | 55.4 | 87.9 | 3.5 | 10.2 |
Sept | 2.4 | 7.8 | 17.2 | 49.7 | 88.6 | 3.5 | 14.4 |
Oct | 2.2 | 9.1 | 19.1 | 49.8 | 88.7 | 3.4 | 19.2 |
Nov | 2.1 | 11.0 | 21.1 | 50.6 | 88.6 | 3.2 | 22.4 |
Dec | 2.0 | 12.4 | 23.4 | 48.1 | 88.0 | 3.4 | 26.4 |
source: Australian Government Bureau of Meteorology
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