Sorrento

Sorrento, VIC 3943 is an established suburb with a mixed-age population dominated by residents aged 65 or over years. It offers a high level of educational advantage for students attending government schools, with an ICSEA percentile of 72.0. Residents mostly commute by motor vehicle and work from home. The suburb has a good mix of occupations, with Managers, Professionals, and Technicians and Tradesworkers being the top three. For houses in Sorrento, the sale price range and median household income are relatively high, indicating it may be suitable for affluent homeowners. With a Sale Price IQR Ratio of 41.6%, it could appeal to renovators. The low vacancy rate and room demand-supply ratio are positive signs for potential rental investors. However, the high median growth for units suggests caution for investors looking at this property type. Sorrento presents itself as a suburb with a mature population, strong educational opportunities, and a majority of residents working in managerial and professional roles. While the housing market offers potential for renovation projects and rental investments, investors may need to exercise caution when considering units due to significant negative growth trends. Sources: - proptechdata.com.au - Australian Bureau of Statistics (ABS) Census 2021 - Australian Curriculum, Assessment and Reporting Authority (ACARA) School Profiles 2022