By Gerald Delany, Chairman, Kay & Burton

The word ‘unprecedented’ has perhaps become clichéd in 2020, however it is particularly apt when describing the property market on the Mornington Peninsula.

The year had two distinct and completely varying halves as far as activity was concerned, both in volume of sales and values achieved.

The first half of the year produced normal activity, comparable to the past. The second half produced record activity and saw three times the number of sales, and therefore three times the total value of sales made.

The traditional statistic of sales numbers in the January to April period was dramatically outpaced in the second half of the year.

As was seen all over regional Victoria, the Mornington Peninsula experienced extraordinary demand, which was obviously fuelled by the benefit of historic low interest rates and the effect of Coronavirus.

During July to September, Kay & Burton received an unusually strong level of inquiry from new buyers to the region, most of whom had not owned properties on the Peninsula previously but were seeking the lifestyle and convenience of Western Port and Port Phillip Bay areas.

This year has taught us that working remotely is entirely possible and with quality schools on Mornington Peninsula, bay and ocean beaches, premier golf courses, wineries, quality shopping as well as all the necessary services, it is little wonder the region is experiencing strong demand.

Sellers also emerged in August and September which culminated in the unprecedented activity of sales in the October to December quarter. This level of transaction has never been seen before.

In 2020, Kay & Burton reported 128 sales on the Mornington Peninsula, with a total value of $344 million - testament to the company’s reputation, innovative approach and its hard working team which spans four offices (Portsea, Sorrento, Red Hill and Flinders).

When asked to recall the highlight of 2020, it is difficult to go past the record breaking $25+ million cliff top sale in Sorrento, cementing the home’s status as ‘King of the Cliff’.  The property eclipsed the previous four most valuable sales achieved on the Sorrento/Portsea cliff by Kay & Burton.

Despite the uncertainty of a global pandemic, 2020 has been the strongest year in Kay & Burton’s history, confirming its premier status and long-standing reputation.

13A King Street, Flinders

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10 Old Bittern-Dromana Road, Merricks North

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79 Tucks Road, Main Ridge

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19 Salonika Street, Sorrento

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3401 Point Nepean Road, Sorrento

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Gerald Delany, Chairman, Kay & Burton

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