Infrastructure and Local Insights
Strong investment continues to spur property market performance across the Mornington Peninsula, which has long been sought after for its superb location and outstanding local amenity.
The Mornington Peninsula continues to thrive as a sought-after lifestyle destination, with investment in infrastructure, services and local development set to further boost property market performance and liveability.
The duplication of the Mornington Peninsula Freeway to Boneo Rd in Rosebud will reduce congestion and travel times and bolster accessibility for commuters and the estimated 1.6 million domestic tourists who visit the Mornington Peninsula each summer. The $65 million project further enhances the accessibility gains made by Peninsula Link, which continues to provide an enormous boost to local property and businesses.
Sorrento’s iconic Continental Hotel will be given a luxurious new lease on life when it opens as InterContinental Sorrento in November. The 145-year-old heritage-listed limestone building will feature six dining and bar outlets including a signature restaurant, along with a wellness centre and bathhouse, outdoor pool, gym and three function and event spaces.
Coupled with recent town centre streetscape works, foreshore rejuvenation project and new seawall, Sorrento’s standing as a jewel in the Mornington Peninsula’s tourism crown has been reaffirmed.
Rosebud’s long-awaited Yawa Aquatic Centre opened in July this year, providing a year-round attraction for local families and a key destination for holidaymakers over the summer months. The $35.82 million centre features a 50m indoor pool, gymnasium and wellness centre.
The $6.5 million Rye township regeneration has delivered key improvements for the community. The vibrant new town centre, Napier Street Place, has a pedestrian promenade suitable for markets and events, while the new foreshore promenade, redeveloped camping space and park has cemented the township’s reputation as a key tourist attraction for years to come.
Schools on the Mornington Peninsula continue to draw buyers and strong competition, with homes in sought-after government zones attracting premiums. Rosebud and Dromana secondary colleges, Rosebud Primary School and Red Hill Consolidated School have all undertaken recent major redevelopments, adding to the strong educational choices available to the next generation of Mornington Peninsula families.
The Mornington Peninsula’s enduring appeal to families will be further intensified by a raft of community facility upgrades. In the coming 12 months, the council will spend $2.2 million on vital infrastructure and community connections, including The Briars masterplan and Southern Peninsula Youth Hub.
This strong infrastructure and development investment continues to drive fresh interest and demand on the Mornington Peninsula, ensuring the local property market is perfectly placed for continued growth.
© Jellis Craig 2021