Sorrento
A 70.9% vacancy rate is the single most telling number in Sorrento: nearly three in four dwellings sit unoccupied at any given time, because this is one of Victoria's premier holiday and second-home destinations on the Mornington Peninsula. The permanent population is just 2,013 with a median age of 64, which is 24 years above the national figure. House prices reached a median of $1,875,000 in April-June 2024, placing the suburb well above state and national medians. Long-term owners dominate tenure, with 66.2% owning outright, far higher than the national average, and only 13.3% renting.
Population
2,013
Median Age
64.0
Household IncomeiMedian weekly household income (ABS Census)
$1,658/wk
DAs (12 months)iDevelopment Applications lodged in the past year
28
Median House
$1.9M
Apr-Jun 2024
The median house price of $1,875,000 in April-June 2024 is down 21.2% from the peak of $2,380,000 in January-March 2024, so buyers who missed the peak now have a meaningful entry discount. The stock is almost entirely separate houses at 97%, with apartments at only 1.9%, meaning supply is constrained by physical geography on the peninsula. Dwellings lean large, with 47.9% having four or more bedrooms and 40.8% having three, making the suburb almost entirely a family and lifestyle destination rather than a unit market. Monthly mortgage repayments average $2,167, and the mortgage-to-income ratio of 30.2% sits just above the stress threshold, which is notable given the premium price point.
For Buyers
The median house price of $1,875,000 in April-June 2024 is down 21.2% from the peak of $2,380,000 in January-March 2024, so buyers who missed the peak now have a meaningful entry discount. The stock is almost entirely separate houses at 97%, with apartments at only 1.9%, meaning supply is constrained by physical geography on the peninsula. Dwellings lean large, with 47.9% having four or more bedrooms and 40.8% having three, making the suburb almost entirely a family and lifestyle destination rather than a unit market. Monthly mortgage repayments average $2,167, and the mortgage-to-income ratio of 30.2% sits just above the stress threshold, which is notable given the premium price point.
For Investors
At 13.3% renters against a $1,875,000 median and weekly rent of $462, the gross yield is very thin. The extreme 70.9% vacancy rate reflects holiday-home ownership patterns rather than genuine rental oversupply, so standard vacancy metrics do not apply here. The long-term capital growth story is stronger: prices have risen 143.5% from $770,000 in 2013, a compound annual growth rate of 6.6% over 14 years. Development activity is moderate at 25 applications in the past 12 months, mostly additions and alterations on existing homes, consistent with an established area with limited new supply. Low turnover, with 80.3% of residents remaining in the same address, points to an owner-occupier base with little intent to sell.
Development Activity
Total DAs
35
Last 12 Months
28
YoY ChangeiYear-over-year change in DA lodgements
+1300.0%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Schools in Sorrento iICSEA: school advantage index. 1000 = national avg, higher = more advantaged
St Joseph's School
Prep-6 · 128 students
Sorrento Primary School
Prep-6 · 280 students
Demographics
Sorrento's median age of 64 is 24 years above the national figure, the clearest demographic signal that this is a retirement and lifestyle suburb rather than a working-family area. Overseas-born residents make up 14.8%, which is 6.8 percentage points below the national average, and ancestry is predominantly Anglo-Celtic: English (867), Irish (331) and Scottish (270) are the top three groups. University qualifications reach 39.6% of residents, which is 9.5 percentage points above national, consistent with a well-educated retiree cohort. Household composition reflects this: 57.8% of families are couples without children, well above the national average, and average household size is 2.0, half a person below national.
Age Distribution
Bedrooms
Dwelling Structure
97.0%
Houses
1.1%
Townhouse
1.9%
Apartment
Tenure
Tenure is dominated by outright owners at 66.2%, against just 20.5% with a mortgage and 13.3% renting. This ratio, where outright owners outnumber mortgage holders by more than three to one, points to a long-established, wealth-concentrated resident base rather than recent buyers. The price record shows a $770,000 trough in 2013 rising to a $2,380,000 peak in early 2024 and settling at $1,875,000 in April-June 2024, a 143.5% nominal gain over the period. Stock is almost uniformly detached houses at 97%, and four-plus bedroom homes account for 47.9% of all dwellings. The vacancy rate of 70.9% is structural and reflects the holiday-home character of the area.
Median House Price Trend
Source: State Valuer-General
Mortgage / mo
$2,167
Rent / wk
$462
HH Size
2.0
Personal Income / wk
$936
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
70.9%
Unoccupied
2,045
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
27.9%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
30.2% stressed
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
57.8%
Couples, no children
1,355
Total families
Economy & Employment
Professional/Tech is the largest industry at 14.8% of employed residents (79 workers), followed by Construction at 13.5% (72) and Healthcare at 11.0% (59). By occupation, Managers (207) and Professionals (203) are the top two categories, confirming a high-skill workforce. Unemployment sits at 3.3% and the full-time employment rate is 49.8%, with roughly equal numbers in full-time (338) and part-time (341) roles, because the retired population draws down participation to 38.1%. Household income sits at the 57.4th percentile nationally, which is lower than the premium house prices might suggest, reflecting the retired population's shift from wages to assets.
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
49.8%
Part-time
46.9%
Participation
38.1%
Employed
679
Occupations
Top Industries
University
39.6%
Postgraduate
8.2%
Born Overseas
14.8%
Dwellings
839
Transport to Work
Car dependency is high at 80.6% driving to work, which is above the national average for an area without meaningful public transport links. Only 3.4% use public transport, though 11.0% walk or cycle, a higher active-travel share than many suburban areas, consistent with a coastal, low-traffic environment. Volunteering reaches 24.1% of residents, well above national norms, reflecting community engagement among the retirement-age population. Crime records 167 offences at a rate of 83 per 1,000 residents, with property and deception offences the dominant category at 97 incidents. No schools are recorded within the Sorrento boundary, so families rely on facilities in nearby Mornington Peninsula towns.
Drive
80.6%
Public Transport
3.4%
Walk / Cycle
11.0%
Work from Home
N/A
Safety & Crime
Total Offences
167
Year ending June 2024
Rate per 1,000 People
83.0
Offence Categories
Source: Crime Statistics Agency Victoria / SA Police
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Sorrento compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Sorrento a good suburb to live in?
Sorrento suits retirees and lifestyle buyers well. The median age of 64 is 24 years above national, university qualifications at 39.6% are 9.5 percentage points above national, and 66.2% of residents own their home outright. The trade-off is limited local services, high house prices at $1,875,000 median, and no schools within the suburb.
What is the median house price in Sorrento?
The median house price was $1,875,000 in April-June 2024, down 21.2% from the peak of $2,380,000 in January-March 2024. Long-term appreciation is strong at 143.5% since 2013, a compound annual growth rate of 6.6% over 14 years. Weekly rent averages $462 and monthly mortgage repayments are around $2,167.
What schools are in Sorrento?
No schools are recorded within the Sorrento suburb boundary in this dataset. Families rely on schools in neighbouring Mornington Peninsula towns. The resident population skews older at a median age of 64, so school infrastructure is not a primary driver of local demand. University qualifications among residents reach 39.6%, above the national average.
Is Sorrento safe?
Crime data records 167 offences with a rate of 83 incidents per 1,000 residents. The dominant category is property and deception offences at 97 incidents, followed by crimes against the person at 28. At 2,013 permanent residents the absolute numbers are low, and the retiree-majority population and low turnover rate of 19.7% are typical of settled, lower-crime communities.
Is Sorrento good for property investment?
The long-term capital growth case is solid: 143.5% appreciation from 2013 to 2024 at a 6.6% compound annual rate. However, the rental yield is thin with weekly rent of $462 against a $1,875,000 median, and only 13.3% of dwellings are rented. The 70.9% vacancy rate reflects holiday-home ownership and is not indicative of rental market weakness.
How is Sorrento's population changing?
The permanent population stands at 2,013 and is predominantly retirement-age, with a median age of 64 that is 24 years above the national figure. Resident stability is high, with 80.3% remaining at the same address, and 57.8% of families are couples without children, consistent with an established retiree and empty-nester community rather than a growth corridor.
How much development is happening in Sorrento?
There were 25 development applications lodged in the past 12 months, including additions and alterations, habitable outbuildings and vegetation removal works. Activity reflects renovation of existing premium homes rather than new dwelling supply, consistent with a built-out coastal suburb where 97% of stock is already separate houses and outright ownership stands at 66.2%.
How to read these comparisons
Phrases like "above the national average" reference the unweighted median across Australian suburbs with more than 1,000 residents, not population-weighted national figures. Suburb-level medians are more useful for ranking suburbs against each other; ABS census headlines are population-weighted (so dominated by Sydney and Melbourne) and can read very differently.
Current baseline (refreshed 2026-05-10): median age 40, university-educated 30.1%, born overseas 21.6%, average household size 2.5 people.
Data sources: ABS 2021 Census (demographics, income, tenure), state Valuer-General (house prices), Department of Jobs SALM (unemployment), ACARA (school ICSEA), state Crime Statistics agencies (offences), council DA portals (development applications). Population forecasts use a Hamilton-Perry cohort model calibrated to ABS ERP.
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